Onodrim Industries, a platform focused on bolstering Europe's defence and industrial capabilities, has closed a $300 million Series A round led by Lux Capital. The funding round included backing from General Catalyst, Lakestar, Altimeter, Strike Capital, 137 Ventures, 8090 and Expeditions, valuing the company at $1.3 billion. This investment follows a $45 million seed round completed earlier in the year.
The company's strategy centres on acquiring controlling interests in aerospace, defence and manufacturing firms that operate within critical supply chains and address gaps in Europe's defence sector. Onodrim deploys long-term capital alongside technology, operational know-how and business development capabilities to help portfolio companies expand their reach, secure larger contracts and serve customers across the continent.
According to Aistis Šimaitis, co-founder and CEO, Europe hosts numerous capable enterprises whose expansion has been hampered by insufficient access to the capital and resources needed to scale rapidly in today's environment. "We are bringing permanent capital, technology and world-class operators to Europe's best companies, giving them the resources to expand, compete and strengthen the continent's defence industrial base," Šimaitis stated.
The platform has recruited personnel with backgrounds spanning private equity, aerospace and defence, technology and government sectors. Its operational model focuses on partnering with acquired firms to modernise production, enhance efficiency and create new offerings through access to engineering talent and pooled resources.
Alex Blessing, co-founder and CTO, emphasised the company's philosophy: "Our approach at Onodrim is rooted in long-term partnership and collaboration. We believe Europe's industrial champions are built by investing in great businesses, empowering the people behind them and giving them the resources to grow for the long term."
The fresh capital will fuel Onodrim's acquisition programme across aerospace, defence and industrial manufacturing. The company intends to announce its initial acquisitions within the coming months.
Onodrim is simultaneously strengthening its footprint across Europe by establishing offices in Munich and Turin, complementing its current bases in Amsterdam, London and Vilnius.
Source: Tech.eu
