Onodrim Industries Raises $300 Million to Boost Europe's Defence Sector

Onodrim Industries has announced a $300 million Series A funding round, elevating its valuation to $1.3 billion. The round was led by Lux Capital, with contributions from significant investors like General Catalyst and Lakestar. This follows a previous $45 million seed round from earlier in the year. Onodrim plans to use the funds to acquire businesses in aerospace, defence, and industrial manufacturing.

Co-founded by Aistis Šimaitis and Alexander Blessing, Onodrim is focused on dual-use businesses that address key challenges in Europe's defence industry. Lux Capital's Brandon Reeves highlighted the need for a robust industrial foundation in Europe to tackle security challenges.

Onodrim is also expanding its presence in Europe, opening offices in Munich and Turin. The company aims to announce its first acquisitions soon, reinforcing its mission to strengthen Europe's industrial and defence sectors.