Monopulse, a Danish-Lithuanian maker of military reconnaissance drones, raised more than €2m in a round led by Coinvest Capital, Lithuania’s state-owned venture capital fund, the company announced on 12 October.
Coinvest is managed by a wholly owned subsidiary of ILTE, Lithuania’s national development bank, which lent Monopulse €1.12m in November 2025 to expand drone production. The fund has €44.3m of committed capital and only invests alongside private investors.
NGL Ventures, a Lithuanian angel syndicate, invested €560,000 together with 68 business angels, which it said was its largest syndicate to date. Investors from the Lithuanian Business Angel Network (LitBAN) and Plug and Play Ventures also took part.
Monopulse was founded in 2021 and is led by its founder and chief executive, Justas Poderys. The company builds surveillance and reconnaissance drones and said it would use the new money to increase production, fund research and development, and expand into Scandinavia and other markets including Germany, France and the Netherlands.
Its main product, the Falcon MK3S, is a small surveillance and reconnaissance drone that the company says stays under the operator’s control when GPS signals are jammed. Monopulse says its systems are already used by the Lithuanian and Danish armed forces, and that it sources components only from allied countries.
Drone companies have raised $4.7bn across 40 European rounds this year, nearly two-thirds of the $7.4bn raised by European defence start-ups up to September, according to Dealroom’s State of Defence Tech 2026 report, produced with Resilience Media. That total is already nearly three times the $2.6bn raised in the whole of 2025.
