European platform Onodrim Industries, focused on the development of defense and industrial companies, announced on November 9 that it has raised $300 million in a Series A funding round. The investment was led by Lux Capital, valuing the company at $1.3 billion post-transaction. Participants in the round include D3, a Ukrainian early-stage venture fund investing in technologies to protect democracy. RBC-Ukraine reported this citing an Onodrim Industries press release.
Round Participants and Seed Investment Follow-On
In addition to Lux Capital, the round was joined by General Catalyst, Lakestar, Altimeter, Strike Capital, 137 Ventures, 8090, Expeditions, and other new and existing investors. The new financing follows a $45 million seed round previously announced by Onodrim earlier in 2026. In total, the company has raised approximately $345 million within a single year, reflecting strong investor interest in the 'perpetual capital' model for Europe's defense and industrial sector.
Strategy: Perpetual Capital for Defense Assets
Onodrim will direct the raised funds toward acquiring controlling stakes in existing aerospace, defense, and industrial manufacturing enterprises. The company deploys perpetual capital and then accelerates the growth of acquired businesses by implementing technologies, operational management, and commercial development. The focus is placed on enterprises operating in critical industries that produce dual-use technologies and products—ranging from supply chains and services to manufacturing. Onodrim plans to announce its first acquisitions in the coming months.
'Europe has no shortage of exceptional companies. The problem lies in accessing the resources needed to scale them at the speed and scale required today. We provide Europe's best companies with perpetual capital, technology, and world-class managerial support,' stated Aistis Šimaitis, co-founder and CEO of Onodrim.
European Expansion and Focus on Ukraine
At the same time, the company is expanding its geographical footprint by opening Onodrim Germany in Munich and Onodrim Italy in Turin, complementing existing offices in Amsterdam, London, and Vilnius. Ukraine is among the countries where Onodrim is actively expanding its operations. Mykola Zhuk, the company's head in Ukraine, noted that Ukrainian defense enterprises have already proven their ability to create innovative technologies and rapidly adapt to the needs of modern warfare, yet many of them require access to capital, new markets, and industrial partners for further growth.
According to the company, it is already working with Ukrainian defense enterprises. The main areas of cooperation include sensor technologies, secure and jam-resistant military communications, electronic warfare systems, component manufacturing, and industrial cooperation. Onodrim is considering investment opportunities, acquiring stakes in enterprises, and implementing joint projects; partner names and details of potential agreements are not disclosed due to ongoing negotiations and confidentiality terms.
Team and the Defense Omnibus Context
Onodrim is led by co-founder and CEO Aistis Šimaitis and co-founder and CTO Alexander Blessing. Šimaitis previously served as an advisor to the Lithuanian government, held a senior technology leadership position at Palantir Technologies, and holds a PhD from the University of Oxford. Blessing worked as a deployment engineer at Palantir Technologies and was educated at Stanford and Cambridge universities. The third co-founder is Christian Garrett, a partner at 137 Ventures.
The scaling decision comes amid heightened European defense initiatives: on September 16, the European Parliament adopted the Defense Omnibus, which provides for the financing and testing of advanced military technologies directly in Ukraine, as well as expedited permitting for expanding defense manufacturing. 'Onodrim's bold and unique vision offers European and, above all, Ukrainian companies a powerful partner to help turn their dual-use technologies into full-scale industrial capabilities capable of competing globally,' emphasized Eveline Buchatskiy, managing partner at D3.
