Dutch drone maker Destinus plans to buy Swiss autonomous pilot startup Daedalean for $225m, in one of Europe’s biggest defence tech acquisitions.
Defence tech dealmaking has shot up in recent years as rising geopolitical tensions pushed governments to hike military budgets. So far this year, European startups in the sector have raised €1.5bn, a figure that will likely top the €1.8bn picked up across the whole of 2024.
Destinus, which was reported to be in talks to raise funds at a €1.5bn valuation in June, said the Zurich-based startup would bolster AI capabilities as it develops strike drones and aircraft, Bloomberg reported.
Founded in 2021, Destinus has supplied weapons to Ukraine and raised more than €200m, according to its founder and CEO Mikhail Kokorich — a former Russian national who renounced citizenship in 2024 due to opposition to the war in Ukraine, the publication said.
Daedalean said it has raised $100m, Bloomberg reported, from investors including the VC arm of industrial giant Honeywell.
The acquisition follows a flurry of activity in the defence tech space in recent months as startups and VCs bet big on the sector’s growth with the UK and Germany emerging as Europe’s leading hubs.
Germany’s Helsing raised $600m in June and compatriot Quantum Systems picked up $160m in May. In the UK, Cambridge Aerospace raised $100m and PhysicsX $135m.
Britain has also seen many of the world’s buzziest defence techs announce factories, offices and investments in the country in the past few months.
Acquisitions in the space have been ramping up. German strike drones startup Stark acquired a Berlin-based company building autonomous navigation software for drones to boost its swarming capabilities in July. Helsing bought aircraft manufacturer Grob Aircraft in June and Quantum Systems has acquired three companies in 2025.
Sifted approached Destinus and Daedalean for comment.
Read the orginal article: https://sifted.eu/articles/drone-maker-destinus-to-buy-ai-pilot-startup/
