# Defence Deals

> European defence capital, investment and funding news


## Posts

- [European defence tech funding nearly triples to record $7.4bn](https://defencedeals.com/funding/european-defence-tech-funding-nearly-triples-to-record-7-4bn/): US investors now supply 47 per cent of the capital, overtaking European backers for the first time, as Dealroom projects $10.5bn by year-end.
- [Lithuanian state fund leads round of more than €2m in reconnaissance drone maker Monopulse](https://defencedeals.com/funding/lithuanian-state-fund-leads-round-of-more-than-e2m-in-drone-maker-monopulse/): The round follows a €1.12m loan from Coinvest's parent, national development bank ILTE, last year, and includes a 68-strong angel syndicate.
- [NATO Innovation Fund opens Warsaw office in 'Eastern flank' boost](https://defencedeals.com/funding/nato-innovation-fund-opens-warsaw-office-in-eastern-flank-boost/): The €1bn investment arm of NATO has established an office in the Polish capital, seeking to capitalise on Central and Eastern Europe's vibrant defence tech scene and huge defence allocations.
- [INLEAP Photonics raises €20m seed round to scale laser counter-drone systems](https://defencedeals.com/funding/inleap-photonics-raises-e20m-seed-round-to-scale-laser-counter-drone-systems/): UVC Partners led the round, with investors from Germany, Poland, Estonia and Denmark backing the company’s expansion across European defence markets.
- [GROUND A raises €9.1 million pre-seed to scale laser counter-drone systems](https://defencedeals.com/funding/ground-a-raises-e9-1-million-pre-seed-to-scale-laser-counter-drone-systems/): Vsquared Ventures led the round to help rollout modular production in Germany, with a further financing round planned for 2027.
- [STARK raises €500 million in funding round backed by Sequoia and NATO fund](https://defencedeals.com/funding/stark-raises-e500-million-in-funding-round-backed-by-sequoia-and-nato-fund/): Reports value the German uncrewed military systems maker at over €3 billion as it earmarks its latest funding round to expand European research, development and manufacturing.
- [Voice AI to control defence systems, Creoir, raises seed funding from Gungnir Capital](https://defencedeals.com/funding/voice-ai-to-control-defence-systems-creoir-raises-seed-funding-from-gungnir-capital/): The Finnish company is running a €2 million seed funding round, led by defence VC specialist Gungnir Capital.
- [Swedish drone vision start-up Synclair Vision raises SEK5m from public backers](https://defencedeals.com/funding/swedish-drone-vision-start-up-synclair-vision-raises-sek5m-from-public-backers/): The company plans to scale production of its AI camera systems, mainly for Ukraine, after its first round of outside investment.
- [Osavul raises €8.5m as critical infrastructure becomes new target for hybrid threats](https://defencedeals.com/funding/osavul-raises-e8-5m-as-critical-infrastructure-becomes-new-target-for-hybrid-threats/): 33N Ventures led the Series A funding, bringing the AI-driven hybrid threat intelligence company's total funding to €12m.
- [SE3 Labs emerges from stealth with €5.5 million for defence-focused spatial AI](https://defencedeals.com/funding/se3-labs-emerges-from-stealth-with-e5-5-million-for-defence-focused-spatial-ai/): Lakestar led the seed round alongside a host of VC backing for a business already working with the German military.
- [Autonomus cargo aircraft Acodyne raises €2.5m pre-seed](https://defencedeals.com/funding/autonomus-cargo-aircraft-acodyne-raises-e2-5m-pre-seed/): Denmark's export and Investment Fund participated alongside investors including Gungnir Capital to fund prototype development.
- [Swedish VCs back Ukrainian logistics ground robots with €500,000 investment](https://defencedeals.com/funding/swedish-vcs-back-ukrainian-logistics-ground-robots-with-e500000-investment/): Front Ventures and Hede Capital have invested in the battlefield proven technology, with additional support from Defence Builder Fund.
- [DTCP Defence leads €12m seed round for AI drone swarm systems, Six Robotics](https://defencedeals.com/funding/dtcp-defence-leads-e12m-seed-round-for-ai-drone-swarm-systems-six-robotics/): Norwegian defence technology company Six Robotics has raised €12 million in a seed round led by DTCP Defence to scale its software for coordinating autonomous unmanned systems.
- [MITS Capital invests in Danish-Ukrainian defence startup Dropla Tech](https://defencedeals.com/funding/mits-capital-invests-in-danish-ukrainian-defence-startup-dropla-tech/): Danish-Ukrainian explosives detection firm will join MITS' acceleration programme as part of the latest investment.
- [Kraken becomes latest defence tech unicorn with €150m Series B raise](https://defencedeals.com/funding/kraken-becomes-latest-defence-tech-unicorn-with-e150m-series-b-raise/): The British maritime defence startup becomes a unicorn with its Series B fundraise, with backing from a host of new VCs
- [Ubotica raises $11 million for maritime intelligence from space](https://defencedeals.com/funding/ubotica-raises-11-million-for-maritime-intelligence-from-space/): Act Venture Capital and Greencode Ventures led the funding round which will help the Irish space tech rollout its orbital AI maritime system.
- [First-half 2026 results unpicked: order book heaven](https://defencedeals.com/analysis/first-half-results-unpicked-2026/): The first-half results are now in for Europe's biggest defence and aerospace companies and the continent's rearmament push is creating enormous order backlogs.
- [SpaceAM closes seed funding with Foresight Group and MOD backing](https://defencedeals.com/funding/spaceam-closes-seed-funding-with-foresight-group-and-mod-backing/): Space and defence startup specialising in AI sensors is preparing for a Seed A round
- [Gallos raises £35m to build and invest in defence startups](https://defencedeals.com/funding/gallos-raises-35m-to-build-and-invest-in-defence-startups/): Backed by Ventura and Aberdeen, alongside founding investor Lansdowne Partners, the investment will support the platform building the next generation of security startups.
- [Agon emerges from stealth with $30m to build virtual training grounds for defence AI](https://defencedeals.com/funding/agon-emerges-from-stealth-with-30m-to-build-virtual-training-grounds-for-defence-ai/): Backed by Lakestar, Lux Capital and Northzone, the startup is led by prolific AI and tech veterans of Anduril, Applied Intuition and Unity.
- [Cambridge Aerospace raises $300m at $3.4bn valuation to scale interceptor production](https://defencedeals.com/funding/cambridge-aerospace-raises-300m-at-3-4bn-valuation-to-scale-interceptor-production/): British air defence startup Cambridge Aerospace has raised $300 million at a $3.4 billion valuation, more than doubling its value since an April funding round, as investors back the company's low-cost drone interceptor and plans to expand production.
- [Rheinmetall revenue jumps 39% as Europe's rearmament moves into production](https://defencedeals.com/markets/rheinmetall-revenue-jumps-39-as-europes-rearmament-moves-into-production/): The German giant reported €5 billion first-half sales and operating profit of almost €800 million, a 74% rise. Orders continued to rise with a mega backlog of more than €80 billion.
- [Renk orders jump 30%, reaching record, as the defence supplier expands into naval propulsion](https://defencedeals.com/markets/renk-orders-jump-30-reaching-record-as-the-defence-supplier-expands-into-naval-propulsion/): Orders outpaced revenue growth for the German Leopard 2 tank supplier in the first half of the year, reaching a record €7.4 billion backlog, with more than 90% of 2026 revenue already contractually secured.
- [Safran defence electronics see strong demand as aerospace group raises guidance](https://defencedeals.com/markets/safran-defence-electronics-see-strong-demand-as-aerospace-group-raises-guidance/): The French aerospace group has revised its profit guidance to €6.5 billion, expecting mid-teen revenue growth. Its business wing including defence saw revenues rise 14%.
- [Dassault Aviation profits skyrocket on Rafale exports](https://defencedeals.com/markets/dassault-aviation-profits-skyrocket-on-rafale-exports/): Defence accounted for 71% of the group's sales, reaching €4.2 billion and pushing profit to €330 million. New orders meanwhile fell from €8 billion to less than €3 billion.
- [Hensoldt doubles orders despite frigate setback](https://defencedeals.com/markets/hensoldt-doubles-orders-despite-frigate-setback/): The German radar and sensors specialist reported first-half orders more than doubled, despite losing a €200 million contract in July.
- [Leonardo orders jump 45% in new CEO's first results](https://defencedeals.com/markets/leonardo-orders-jump-45-in-new-ceos-first-results/): The Italian defence group reported a rise in revenue, profit and orders as listed defence companies continue to benefit from a strong first half of the year.
- [BAE Systems raises outlook with record £84bn defence backlog](https://defencedeals.com/markets/bae-systems-raises-outlook-with-record-84bn-defence-backlog/): Sales increased to almost £16 billion while profit rose to £1.7 billion in the latest results; investment in US facilities set to boost long-term production.
- [Airbus defence orders double as European rearmament drives demand](https://defencedeals.com/markets/airbus-defence-orders-double-as-european-rearmament-drives-demand/): Defence orders rose to €9.3 billion in the first half of the year, the strongest growth across the group.
- [BAE Systems commits €50m to European defence tech VCs](https://defencedeals.com/funding/bae-systems-commits-e50m-to-european-defence-tech-vcs/): The British defence group has committed €25 million each to Lakestar and Expeditions defence and technology funds. BAE hopes the initiative will also help it spin out its own tech businesses.
- [Lockheed Martin VC arm to invest $100m in European defence tech and establish London office](https://defencedeals.com/funding/lockheed-martin-vc-arm-to-invest-100m-in-european-defence-tech-and-establish-london-office/): US defence giant has earmarked $100m for European defence tech investments from its $1bn venture capital fund, to be headed from a new London office.
- [Quantum Systems secures Blackstone and Airbus backing with $1.2 billion Series D raise](https://defencedeals.com/funding/quantum-systems-secures-blackstone-and-airbus-backing-with-1-2-billion-series-d-raise/): The German neoprime has a valuation of $8 billion after recieving backing from European aerospace giant Airbus and the world's largest alternative investor, Blackstone.
- [Expeditions closes second defence-tech fund at €197m as EU, NATO and BAE invest](https://defencedeals.com/funding/expeditions-closes-second-defence-tech-fund-at-e197m-as-eu-nato-and-bae-invest/): European defence technology investor Expeditions has closed its second fund at €197 million, more than doubling its original target as BAE Systems, the European Investment Fund and US technology company Keysight Technologies joined NATO and Polish institutional investors in backing early-stage defence startups.
- [Inside SAFE: how the EU's €150bn defence loan machine is working](https://defencedeals.com/analysis/inside-safe-how-the-eus-e150bn-defence-loan-machine-is-working/): With Greece the fifth recipient of SAFE financing last week, the rollout of the EU's defence financing tool has been quick, but uneven.
- [Thales raises outlook as defence orders surge](https://defencedeals.com/markets/thales-raises-outlook-as-defence-orders-surge/): French defence and aerospace group Thales raised its full-year outlook on Thursday after reporting a 21% jump in first-half order intake, comfortably beating analyst forecasts and reinforcing confidence in Europe's defence spending boom.
- [Helsing raises $1.8bn at $18bn valuation in Europe's biggest defence tech round](https://defencedeals.com/funding/helsing-raises-1-8bn-at-18bn-valuation-in-europes-biggest-defence-tech-round/): Munich-based defence AI company Helsing has raised $1.8 billion in a Series E round, valuing the company at $18 billion — the largest funding round yet for a European defence technology startup and roughly 50% higher than the €12 billion valuation it carried after its last round in June 2025.
- [Germany to launch state-backed fund to invest in defence start-ups](https://defencedeals.com/policy/germany-to-launch-state-backed-fund-to-invest-in-defence-start-ups/): Germany will launch a state-backed investment vehicle to take direct equity stakes in defence and security start-ups, the government said Wednesday. Berlin is seeking to close a financing gap that has pushed early stage European defence firms toward private foreign capital.
- [Rheinmetall and Destinus set out plans for European missile venture](https://defencedeals.com/ma/rheinmetall-and-destinus-set-out-plans-for-european-missile-venture/): Rheinmetall and Destinus have agreed to form a joint venture to produce cruise missiles in Germany. The venture will be formally established in the second half of 2026.
- [EQT enters space sector with Exolaunch acquisition](https://defencedeals.com/ma/eqt-enters-space-sector-with-exolaunch-acquisition/): ETQ's first space investment underlines growing appetite by private equity for dual-use businesses
- [Tank maker KNDS clears path for €18bn IPO after France and Germany agree equal ownership](https://defencedeals.com/ma/tank-maker-knds-clears-path-for-e18bn-ipo-after-france-and-germany-agree-equal-ownership/): France and Germany have agreed to become equal shareholders in KNDS, the Franco-German manufacturer of land systems including the Leopard 2 main battle tank, clearing the final political obstacle to an initial public offering that could value the company at between €15 billion and €18 billion, according to a joint government statement and reporting by Reuters and Bloomberg.
- [Seraphim Space leads £4m seed round in maritime autonomy startup Online Oceans](https://defencedeals.com/funding/seraphim-space-leads-4m-seed-round-in-maritime-autonomy-startup-online-oceans/): Successful fundraising is the latest in a series of investors backing low-cost, autonomous and dual-use technologies this year.
- [EU launches EastInvest facility to mobilise €28bn for eastern regions hit by Ukraine war](https://defencedeals.com/policy/eu-launches-eastinvest-facility-to-mobilise-e28bn-for-eastern-regions-hit-by-ukraine-war/): New financing platform targeting nine border states forms centrepiece of Commission strategy to address economic and security strain.
- [Leonardo completes €1.6bn acquisition of Iveco's defence business](https://defencedeals.com/ma/leonardo-completes-e1-6bn-acquisition-of-ivecos-defence-business/): Leonardo completed a €1.6 billion acquisition of Iveco Group's defence business in March, swelling its workforce by 2,000 and adding six manufacturing sites across Europe.
- [Europe drives global defence spending growth in 2025](https://defencedeals.com/policy/europe-drives-global-defence-spending-growth-in-2025/): Global defence expenditure topped a record $2.8 trillion, with NATO accounting for more than half of this and Europe representing $864 billion, a 14% rise on last year.
- [Frankenburg raises €30m in Series A funding to boost European low-cost air defence production](https://defencedeals.com/funding/frankenburg-raises-e30m-in-series-a-funding-to-boost-european-low-cost-air-defence-production/): The Estonian startup is targeting a gap between cheap drones and costly air defence systems as conflicts upheld traditional procurement priorities.
- [Polish president vetoes €44bn SAFE defence loan but government presses ahead](https://defencedeals.com/funding/polish-president-vetoes-e44bn-safe-defence-loan-but-government-presses-ahead/): Poland holds the largest single allocation under the €150bn programme, making the veto the most significant domestic challenge to the scheme since it entered force last year.
- [EIB deploys €4bn in defence and targets €1bn VC expansion](https://defencedeals.com/funding/eib-deploys-e4bn-in-defence-and-targets-e1bn-vc-expansion/): The EU's lending arm deployed a record €4 billion into security and defence in 2025, with a further increase to €4.5 billion planned for 2026 as Europe's rearmament push gathers pace.
- [EU backs Join Capital with €50m in largest defence VC commitment to date](https://defencedeals.com/funding/eu-backs-join-capital-with-e50m-in-largest-defence-vc-commitment-to-date/): The European Investment Fund's largest ever defence commitment will back 25 early-stage startups across Europe.
- [Quantum Systems secures €150m financing as European banks scale defence tech exposure](https://defencedeals.com/funding/quantum-systems-secures-e150m-financing-as-european-banks-scale-defence-tech-exposure/): German drone manufacturer Quantum Systems has secured a €150 million financing package backed by the European Investment Bank and major commercial lenders, marking a shift toward institutional capital supporting Europe’s defence technology sector, the company announced in February.
- [Scotland secures £50m defence growth deal to boost skills and innovation](https://defencedeals.com/funding/scotland-secures-50m-defence-growth-deal-to-boost-skills-and-innovation/): The UK government has today announced a £50 million defence growth deal for Scotland aimed at strengthening skills, innovation and industrial capacity across key sectors.
- [British AI drone startup raises $2.1m in pre-seed](https://defencedeals.com/funding/british-ai-drone-startup-raises-2-1m-in-pre-seed/): The autonomous drone technology round is led by space specialist Seraphim Space and backed by the UK government's defence venture capital fund.
- [BAE profits jump 12% amid record orders](https://defencedeals.com/markets/bae-profits-jump-12-amid-record-orders/): The UK defence giant's order backlog is now three times its annual revenue, surpassing the UK government's entire defence budget.
- [European defence stocks surge as Middle East conflict deepens](https://defencedeals.com/markets/european-defence-stocks-surge-as-middle-east-conflict-deepens/): US strikes in Iran over the weekend and retaliatory attacks across the region has driven a huge surge in European defence stocks as national security is once again put into the spotlight.
- [EIB and state lenders mull defence infrastructure fund](https://defencedeals.com/funding/eib-and-state-lenders-mull-defence-infrastructure-fund/): Early discussions from group representing over €300 billion could lead to significant funding for Europe's industrial revival.
- [JPMorgan drops defence exclusions for swathe of European funds](https://defencedeals.com/funding/jpmorgan-drops-defence-exclusions-for-swathe-of-european-funds/): The global asset manager follows peers by opening up lucrative defence stocks to over 130 of its European funds in a major shake-up of the firm's ESG policies.
- [Swiss manager Decalia launches UCITS defence equity fund](https://defencedeals.com/funding/swiss-manager-decalia-launches-ucits-defence-equity-fund/): The actively managed fund available to institutional and retail investors mimics the firm's successful 2024 global defence strategy.
- [UK launches £20m fund for homegrown defence unicorns](https://defencedeals.com/funding/uk-launches-20m-fund-for-homegrown-defence-unicorns/): The dedicated fund for defence techs will fast-track small MOD contracts, in the hope that this will boost revenues and clout, overcoming the startup space's 'valley of death'.
- [Netherlands unveils ‘freedom tax’ to fund defence modernisation](https://defencedeals.com/policy/netherlands-unveils-freedom-tax-to-fund-defence-modernisation/): The levy on individuals and business aims to raise €5 billion, supporting wider efforts to meet NATO's 3.5 per cent expenditure target.
- [Czechoslovak Group raises €3.8 billion in Europe’s largest defence IPO](https://defencedeals.com/funding/czechoslovak-group-raises-e3-8-billion-in-europes-largest-defence-ipo/): Investors pile in to Amsterdam-listed defence giant on its market debut, reflecting fervent appetite for defence assets amid sustained military spending growth.
- [EU proposes €90bn Ukraine loan with majority earmarked for defence procurement](https://defencedeals.com/policy/eu-proposes-e90bn-ukraine-loan-with-majority-earmarked-for-defence-procurement/): Bulk of funding would support weapons procurement, with loans raised through joint EU borrowing
- [EU Parliament scrutinises Hungary’s €17 billion defence loan request](https://defencedeals.com/policy/eu-parliament-scrutinises-hungarys-e17-billion-defence-loan-request/): Parliament raises questions over oversight as Hungary seeks one of the largest allocations under the EU’s Security Action for Europe programme.
- [Greece defence firms to receive €100m support from EIB](https://defencedeals.com/funding/greece-defence-firms-to-receive-e100m-support-from-eib/): The European Investment Bank (EIB) and Greece’s Piraeus Bank have agreed a €100 million financing package to support small and medium-sized enterprises in the Greek defence and cybersecurity sectors.
- [Germany’s DTCP launches €500m defence tech fund](https://defencedeals.com/funding/germanys-dtcp-launches-e500m-defence-tech-fund/): German investment firm Digital Transformation Capital Partners (DTCP) has launched a €500 million fund focused on European defence, security and resilience technologies, adding to a small but growing pool of private capital explicitly targeting the sector.
- [EU green lights eight member states for SAFE defence loans](https://defencedeals.com/funding/eu-green-lights-eight-eu-states-for-safe-defence-loans/): The European Commission has approved the first wave of national defence investment plans under the EU’s €150 billion Security Action for Europe (SAFE) defence financing programme, paving the way for long‑term, low‑cost loans to member states for procurement and capability building.
- [Renault to manufacture drones under French defence programme](https://defencedeals.com/markets/renault-to-manufacture-drones-under-french-defence-programme/): French carmaker Renault is set to manufacture long-range military drones for the French armed forces under a new defence partnership with defence company Turgis Gaillard, marking a rare move by a major European automaker into weapons production.
- [Understanding Europe’s defence funding maze: A guide for investors and contractors](https://defencedeals.com/analysis/understanding-europes-defence-funding-maze-a-guide-for-investors-and-contractors/): From SAFE to ASAP, a guide to the EU’s overlapping defence funding initiatives, showing how money flows, who can access it, and what it means for investors and contractors.
- [H.I.G. raises €1.6bn for European mid-market investments](https://defencedeals.com/funding/h-i-g-raises-e1-6bn-for-european-mid-market-investments/): Private equity firm H.I.G.
- [Canada to join EU’s €150bn SAFE procurement; first non-EU participant](https://defencedeals.com/policy/canada-to-join-eus-e150bn-safe-procurement-first-non-eu-participant/): Canada has agreed to join in the European Union’s Security Action for Europe (SAFE) defence financing initiative, becoming the first non‑European country to secure such status under the programme, Canadian and EU officials said in late December.
- [Norway's $2.1tn wealth fund reviews ban on defence investments](https://defencedeals.com/funding/norways-2-1tn-wealth-fund-reviews-ban-on-defence-investments/): Norway's $2.1tn sovereign wealth fund, the world's largest, may be positioned to invest in defence companies after its parliament voted to review ethical guidelines that have effectively barred such holdings since 2004.
- [Europe’s first labelled defence bond oversubscribed nearly fourfold](https://defencedeals.com/funding/europes-first-labelled-defence-bond-oversubscribed-nearly-fourfold/): France’s state investment bank Bpifrance has raised €1bn through a labelled defence bond, with the five-year issue attracting €3.8bn in orders from 98 institutional investors — nearly four times the amount sought.
- [Explainer: What Europe's new defence bonds mean for investors and industry](https://defencedeals.com/analysis/explainer-what-europes-new-defence-bonds-mean-for-investors-and-industry/): Europe has issued its first labelled defence bonds, marking a shift in how private capital is mobilised to support the continent's defence sector.
- [EU ratifies redirection of civilian funds for defence spending](https://defencedeals.com/policy/eu-ratifies-redirection-of-civilian-funds-for-defence-spending/): The European Union has formally adopted legislation allowing civilian EU funding programmes to be used for defence and military projects, turning last month’s political agreement on the so-called Mini-Omnibus into binding law.
- [European Parliament approves €1.5bn permanent defence industry programme](https://defencedeals.com/policy/european-parliament-approves-e1-5bn-permanent-defence-industry-programme/): The European Parliament has approved the European Defence Industry Programme (EDIP), clearing the EU’s first dedicated long-term funding scheme for defence manufacturing, joint procurement and industrial supply chains, with €1.5bn in grant funding through 2027.
- [Slovakia opens €58bn ammunition procurement scheme to SAFE financing](https://defencedeals.com/funding/slovakia-opens-e58bn-ammunition-procurement-scheme-to-safe-financing/): Slovakia has become the first EU member state to activate the Security Action for Europe (SAFE) defence financing facility for live procurement, signing a seven-year ammunition supply agreement with ZVS Holding, the Slovak ammunition producer owned by Czech defence group Czechoslovak Group (CSG) for a €58bn programme.
- [EU pumps €1bn into latest wave of defence R&D projects](https://defencedeals.com/funding/eu-pumps-e1bn-into-latest-wave-of-defence-rd-projects/): The European Commission has begun signing grant agreements for 62 defence research and development projects under the 2024 European Defence Fund (EDF), deploying close to €1 billion in EU funding, the executive said on Tuesday.
- [Europe’s largest VC defence fund closes at €150m with pension backing](https://defencedeals.com/funding/europes-largest-defence-vc-fund-closes-at-e150m-with-pension-backing/): Keen Venture Partners has closed its European Defence and Security Tech Fund at €150m, marking the largest dedicated defence venture capital vehicle raised in Europe and signalling growing institutional appetite for military technology investments.
- [EU redirects billions in civilian funds to boost defence investment](https://defencedeals.com/funding/eu-redirects-billions-in-civilian-funds-to-boost-defence-investment/): EU repurposes research and infrastructure funds for military projects, opening new financing channels without additional budget contributions
- [Brussels unveils €1bn growth fund as EU targets defence tech 'valley of death'](https://defencedeals.com/funding/brussels-unveils-e1bn-growth-fund-as-eu-targets-defence-tech-valley-of-death/): European Commission's transformation roadmap tackles startup scaling crisis with new financing vehicle and fast-track procurement reforms
- [Lithuania secures €300m EIB loan for defence infrastructure upgrades](https://defencedeals.com/funding/lithuania-secures-e300m-eib-loan-for-defence-infrastructure-upgrades/): EU lender expands support for eastern-border security as funding for Lithuanian defence surpasses €1bn this year
- [UK balks at €6.75bn price tag for EU defence fund access](https://defencedeals.com/policy/uk-balks-at-e6-75bn-price-tag-for-eu-defence-fund-access/): Government calls European Commission's entry fee "unreasonable" as bloc prepares to launch €150bn Security Action for Europe initiative
- [Ukraine to gain access to European Defence Fund](https://defencedeals.com/funding/ukraine-to-gain-access-to-european-defence-fund/): Ukraine is set to gain associate-country status under the European Defence Fund (EDF), enabling its defence and technology organisations to participate in EU-financed collaborative research and capability-development projects.
- [Reflex Aerospace raises €50 million in Series A funding round](https://defencedeals.com/funding/reflex-aerospace-raises-e50-million-in-series-a-funding-round/): German satellite manufacturer secures Europe’s largest New Space Series A to date.
- [European Defence Fund receives record number of proposals](https://defencedeals.com/funding/european-defence-fund-receives-record-number-of-proposals/): The European Defence Fund (EDF), an EU fund dedicated to defence projects, has received a record 410 project proposals under its 2025 call.
- [EU launches Defence Readiness Roadmap 2030 to strengthen continental deterrence](https://defencedeals.com/policy/eu-launches-defence-readiness-roadmap-2030-to-strengthen-continental-deterrence/): Joint plan sets milestones for industrial capacity, mobility and capability deployment by 2030.
- [Rheinmetall and VMZ form €1 billion JV to build artillery shell plant in Bulgaria](https://defencedeals.com/ma/rheinmetall-and-vmz-form-e1-billion-jv-to-build-artillery-shell-plant-in-bulgaria/): Project will produce 155 mm artillery shells by 2027 for NATO and EU states, bolstering Eastern Europe's industrial capacity.
- [Helsing acquires underwater drone maker Blue Ocean](https://defencedeals.com/ma/helsing-acquires-underwater-drone-maker-blue-ocean/): Deal combines Helsing's AI with Blue Ocean's hardware to scale maritime autonomy.

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