Lithuanian-Danish drone manufacturer Monopulse, operated by MNP Technologijos, has raised more than €2 million to expand production, advance research and development, and accelerate its international expansion. The round was led by Lithuanian early-stage venture capital fund CoInvest Capital, with additional investment from NGL Ventures and 68 individual business angels, investors from the Lithuanian Business Angel Network (LitBAN), and Silicon Valley-based Plug and Play Ventures. Monopulse develops unmanned aerial vehicles (UAVs) for surveillance and reconnaissance, including its Falcon MK3S drones, which are already used by the armed forces of several NATO countries. The funding will support increased manufacturing capacity and product development, while helping the company expand into Scandinavia and markets including Germany, France and the Netherlands.
Monopulse operates in the defence technology sector, where demand for unmanned systems and secure supply chains has become increasingly important. The company plans to use the new capital to increase manufacturing capacity and shorten delivery times as it expands its presence across European markets.
The company is already pursuing strategic expansion into Scandinavia and plans to accelerate its entry into Germany, France and the Netherlands. According to the investors, Monopulse has established a commercial presence in NATO markets, with its products integrated into air defence and critical infrastructure protection systems.
The company also reported strong revenue growth, more than tripling its revenue in the previous year while raising a relatively small amount of external capital. Its Falcon drone range has moved beyond the prototype stage, with aircraft already in use by the armed forces of several NATO countries.
“We operate in a dynamic defence technology sector where technologies are evolving rapidly and customers demand secure manufacturing and resilient supply chains. This investment will enable us to scale our production capacity while ensuring that our customers receive our products quickly and on schedule,” says Justas Poderys, PhD founder and CEO of Monopulse.
Monopulse’s product portfolio includes the Falcon MK3S, an unmanned aircraft designed for surveillance and reconnaissance missions. Classified as a NATO Class I (Mini) UAV, the aircraft features multiple cameras, including night vision capabilities, and communication systems designed to maintain operator control when GPS signals are disrupted.
The company is also developing HydroHex, an unmanned platform designed to operate both in the air and on the surface of the water, broadening its technology portfolio beyond conventional aerial systems.
Monopulse designs and manufactures major components in-house, including its cameras and flight control computers. It also sources critical components exclusively from countries considered friendly to Lithuania, a strategy intended to strengthen supply chain security and reduce reliance on potentially vulnerable suppliers.
Lithuanian early-stage venture capital fund CoInvest Capital led the investment round. The fund’s managing director, Viktorija Trimbel, pointed to the team’s engineering expertise and understanding of military requirements as key factors behind the investment, adding that the company’s products also have potential civilian applications.
“We invest first and foremost in teams, and the Monopulse team brings together a rare combination of deep engineering expertise and a strong understanding of what the military needs today. The company’s products also have clear civilian applications, so we believe that within the next few years, Monopulse could become an integral part of Europe’s defence supply chain – a company that allies turn to not because it is Lithuanian, but because it is the best,” says V. Trimbel.
NGL Ventures contributed a further €560,000 alongside 68 individual business angels, marking the largest syndicate in the firm’s history. According to NGL Ventures CEO Justinas Pašys, the investment reflects Monopulse’s commercial progress, growing order pipeline and ability to deploy capital efficiently.
“What convinced us most was Monopulse’s commercial progress and the team’s ability to deploy capital effectively. Last year, the company more than tripled its revenue while raising a relatively small amount of external capital. Its technology is no longer just a prototype: the Falcon drones developed by Monopulse are already being used by the armed forces of several NATO countries. More importantly, the team continues to develop new products and has a growing pipeline of orders,” says Justinas Pašys, founder and CEO of NGL Ventures.
Other participants included investors from the Lithuanian Business Angel Network (LitBAN) and Plug and Play Ventures, an international venture capital firm and innovation platform headquartered in Silicon Valley.
The investment will help Monopulse expand its manufacturing operations and develop new products as it seeks to establish a broader role in Europe’s defence technology supply chain.
Read the orginal article: https://arcticstartup.com/monopulse-raises-over-e2-million/
