Latest investment from Croatia – ORQA.
👯 Founder(s): Ivan Jelušić (CSO) and Srđan Kovačević (CEO).
📅 Founding year: 2017
🏭 Industry: Defense, unmanned systems, and drone technology.
💥 Problem: The global drone industry lacks secure, Western-manufactured, dual-purpose unmanned systems that meet high safety and regulatory standards, especially as demand surges due to military and enterprise needs.
📣 Solution: Orqa develops advanced, customizable drone systems focused on reliability, vertical integration, and compliance with Western standards like the NDAA.
👥 Customers: Defense organizations, NATO-affiliated entities, and enterprises in energy, utilities, and construction industries.
🎳 Team size: 78.
🌱 Stage: Seed stage, post-revenue, with plans for international expansion.
💰 Investment amount: €5.8 million
🚀 Funded by: Lightspeed Venture Partners (USA), Radius Capital (USA), Decisive Point (USA), Day One Capital (Hungary).
💡 It will be spent on… Global expansion, increasing production capacity in the USA and Europe, hiring, and further technological development.
💪 Their specialty: Orqa specializes in vertically integrated drone manufacturing, offering scalable and secure solutions that cater to both military and enterprise needs. Their reliability and adherence to strict regulatory requirements position them as a strong Western alternative to Chinese manufacturers like DJI.
🔑 Business model: Sales of drones and related technologies; collaboration with partners like Baykar Technologies, GoPro or CrewConcept.
👩🏫 Market: Enterprise segment estimated to reach $41.3 billion by 2026; defense demand growing rapidly due to geopolitical shifts.
📊 Traction: Orqa has gained recognition within the drone community for its innovative products and has built a loyal customer base among FPV enthusiasts. When it comes to revenues, they more than doubled to €6.4 million in 2023, projected to reach €12 million by the end of 2024.
⚡ Competitors: DJI, Auterion
📈 Funding so far: In 2021 they secured $1.9 million from Day One Capital.
