Interest in security-focused innovation continues to build. In 2024, funding for European startups working in defense and related fields reached €4.55 billion, marking a 24 percent increase from the previous year. This growth outpaced venture capital investment in AI across the continent over the last two years. Much of the activity has centered on startups developing tools that support situational awareness, decision-making capabilities, and operational mobility.
Looking at funding levels by country, Slovakia, Poland and Bulgaria stand out at the top. In Slovakia’s case, however, nearly 90 percent of the total comes from InoBat, which has raised €137 million to date.
Given this growing momentum across the region, it is the right time to take a closer look at the top players shaping the defense and dual-use technology landscape. In the following overview, we will highlight the leading startups driving innovation in this space, both in terms of the funding and the technological capabilities they are bringing to market.
Wanna dive deeper? Discover WHO IS PROTECTING EUROPE’S FUTURE: The state of defense and cybersecurity tech in CEE.
Ajax Systems
Wireless professional-grade security systems for intrusion detection, video surveillance integration, and life-safety.
Founding Year: 2011
Country: Ukraine
Founders: Aleksandr Konotopskyi
Total Funding till date: €9.68M
Stage: Pre-IPO
Investors: Horizon Capital, SMRK VC
Current Full-Time Employees: 1,155
Latest Funding Round: €8.8M
Endurosat
Engineers, builds, and operates satellites for space missions in Low Earth Orbit (LEO) and beyond, managing everything from mission design to launch and operations.
Founding Year: 2015
Country: Bulgaria
Founders: Raycho Raychev
Total Funding till date: €68M
Stage: Series B
Investors: Founders Fund, Ceecat Capital, Neo Ventures, Freigeist Capital
Current Full-Time Employees: 138
Latest Funding Round: €43M
Thorium Space Technology
Next-generation satellite platforms and communication payloads, particularly advanced DBF transponders.
Founding Year: 2017
Country: Poland
Founders: Paweł Rymaszewski
Total Funding till date: €12.24M
Stage: Series A
Investors: Smartlink Partners
Current Full-Time Employees: 35
Latest Funding Round: €900k
Delian Alliance Industries
Autonomous systems that integrate advanced robotics, sensors, and proprietary autonomy software to address physical threats rapidly.
Founding Year: 2021
Country: Greece
Founders: Dimitrios Kottas, Ioannis Souriadakis, Georgios Kontogiannis
Total Funding till date: €6.53M
Stage: Seed
Investors: Marathon Venture Capital, 201 Ventures, Air Street Capital, Entropy Industrial Capital
Current Full-Time Employees: 22
Latest Funding Round: €5.54
Orqa FPV
Develops innovative drone technology aimed at addressing challenges in the FPV (First Person View) market, facilitating remote reality applications.
Founding Year: 2018
Country: Croatia
Founders: Srđan Kovačević, Ivan Jelušić, Vlatko Matijević
Total Funding till date: €7.18M
Stage: Seed
Investors: Lightspeed Venture Partners, Day One Capital, Decisive Point, Radius Capital
Current Full-Time Employees: 77
Latest Funding Round: €5.8M
InoBat
Specializes in R&D and manufacture of custom-designed electric batteries for automotive, commercial vehicle, motorsport, and aerospace sectors.
Founding Year: 2019
Country: Slovakia
Founders: Marian Bocek
Total Funding till date: €137.34M
Stage: Series C
Investors: Bromo Capital, IPM Group, Slovak Investment Holding
Current Full-Time Employees: 72
Latest Funding Round: €100M
Vrgineers
Develops and manufactures advanced virtual and mixed reality headsets and simulators tailored for professional pilot and defense training.
Founding Year: 2017
Country: Czech Republic
Founders: Marek Polčák, Václav Bittner, Martin Holecko
Total Funding till date: €11.21M
Stage: Series A
Investors: Taiwania Capital, Somnium Space, Quanti, Y Soft Ventures, P&J Capital
Current Full-Time Employees: 21
Latest Funding Round: €5.28M
