The US Air Force went to two firms almost nobody had heard of, asked for a cruise missile cheap enough to run out of without regret, and got flight tests in four months. ERAM is the West's answer to the cost-exchange crisis Shahed created.
Prime contractors have joined a record $4.1 billion of venture rounds in 2026, per Dealroom. PitchBook's segment data shows the capital concentrating in autonomy software and systems integration rather than in platforms.
Swarmer's Nasdaq debut, a wave of Western venture money and a Pentagon FPV contract show Ukrainian defense tech crossing from battlefield to balance sheet, at a valuation that has outrun the revenue.