Developer and manufacturer of tactical military drones Unmanned Defense Systems raises €3,2M

Lithuanian developer and manufacturer of unmanned aerial vehicles Unmanned Defense Systems has raised €3,2M. The company has received €900K from Lithuanian Coinvest Capital, and €700K from a group of LitBAN business angels (including €400K from Lithuanian syndicate of investors 2NGLS). Investors from LitBAN include the organization's board members Vladas Lašas, Rita Sakus, Martynas Kandzeras, Gytenis Galkis, Giedrimas Jeglinskas, Šarūnas Račkauskas, Paulius Vilemas and Linas Sargautis. Vytenis Buzas and Ernestas Kalabuckas invested €1,1M in the round and joined the team.

An additional tranch of €500K is reserved for international investors with dual-use sector expertise. The round will be closed within the next few months.  

Founded in Vilnius in 2022, Unmanned Defence Systems develops and manufactures unmanned aerial vehicles. The company focuses on the AI-based integration of swarm unmanned aerial vehicles with battlefield management systems (BMS). Unmanned aerial vehicles supply its solutions to the Lithuanian and Ukrainian armed forces, other EU members, and NATO allies. 

The company will use the investments to further develop its proprietary swarm technologies, fostering advancements in drone autonomy and inter-drone coordination. Drone swarms with advanced sensors and AI-driven data processing capabilities can provide military commanders with real-time intelligence, and swiftly respond to changing conditions on the battlefield.

Established in Vilnius in 2017, Coinvest Capital invests in startups at the early stages and co-invests with groups of business angels. Managing director is Viktorija Trimbel.

Vilnius-based LitBAN (Lithuanian Business Angel Network), was founded in 2017. It is a network for business angels that unites over 370 members. It organizes events, promotes networking, and facilitates syndication of venture deals in the Baltic countries and the Nordics. Founding members are Vladas Lasas, Rita Sakus, Evaldas Remeikis, Venantas Miskinis, Cyril Golub, Paulius Vilemas, Audrius Milukas, Martynas Kandzeras, and others.

Established in Vilnius in 2023 by Lithuanian organisation NGL, 2NGLS is a syndicate SPV, intended to invest in Unmanned Defence Systems. The syndicate includes 41 private investors. Founded in 2022 by the ex-managing director of LitBAN Justinas Pasys, NGL is an angel syndicate and startup board member network, that facilitates syndicated investments, organizes business angel training, and forms startup advisory boards.