Onodrim Raises $300M to Buy Europe's Defense Suppliers, With No Acquisition Yet Named
The Palantir alumni's holding company is valued at $1.3 billion before naming a single acquisition, in a supplier market where Thales, Renk and Helsing are already buying.
The Palantir alumni's holding company is valued at $1.3 billion before naming a single acquisition, in a supplier market where Thales, Renk and Helsing are already buying.
Onodrim Industries raised a $300 million Series A led by Lux Capital at a $1.3 billion valuation, the Amsterdam company said Monday. General Catalyst, Lakestar, Altimeter, Strike Capital, 137 Ventures, 8090 and Expeditions also took part. Onodrim plans to spend the money buying established aerospace, defense and industrial manufacturing businesses.
Frequently Asked Questions
How much did Onodrim raise, and who led the round?
Onodrim Industries raised a $300 million Series A led by Lux Capital at a $1.3 billion valuation, the company said on Nov. 9. General Catalyst, Lakestar, Altimeter, Strike Capital, 137 Ventures, 8090 and Expeditions also took part.
What does Onodrim plan to do with the money?
The company says it will take controlling stakes in established aerospace, defense and industrial manufacturing businesses, hold them with what it calls permanent capital, and add technology, engineering teams and business development support.
Has Onodrim bought any companies yet?
No. Onodrim has disclosed no acquisitions and says it expects to announce the first ones in the coming months. Resilience Media found no evidence of released products or active customers.
Who founded Onodrim?
CEO Aistis Šimaitis, a former Palantir technology leader and adviser to Lithuania's government, and CTO Alexander Blessing, a former Palantir forward deployed engineer, according to the company. Christian Garrett, a partner at 137 Ventures, is also a co-founder.
Who else is buying European defense suppliers?
Thales agreed in July to take over Exail for €3.9 billion and Renk has agreed to acquire David Brown Defence, Tech Funding News noted. Helsing owns Bavarian aircraft maker Grob Aircraft.
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Marcus Schuler
Marcus Schuler edits BattlePolicy, a daily defense-technology brief connecting the companies and capabilities behind modern war to the contest among Europe, the US, Russia, and China.