The Export and Investment Fund of Denmark (EIFO) has committed $5 million to D3 to accelerate defence tech innovation in Ukraine and Europe. The funding will support the development of advanced technologies, including drones, sensors, demining tools, and AI solutions.
About D3
- Founded in 2023 by Eveline Buchatskiy, Anton Verkhovodov, and Elya Chiechienieva, D3 is an early-stage venture fund focused on defence technology.
- The fund invests in pre-seed and seed-stage defence tech startups based in Ukraine and allied countries. For Ukrainian startups, D3 provides hands-on support to help build globally scalable businesses. For startups from allied countries, the fund enables a soft landing into Ukraine’s tech ecosystem and defence sector.
- D3 plans to invest in more than 30 companies, advancing frontier technologies such as AI, autonomous systems, sensors, and next-gen defence tools.
About EIFO
- EIFO is a Danish state-owned financial institution that supports innovation in defence, green technologies, and strategic industries. It aims to strengthen Denmark and Europe’s security and industrial capabilities by investing in startups and funds, often through risk-sharing schemes. EIFO’s recent focus includes boosting Ukraine’s defence sector and advancing sustainable energy projects.
"Our investment in D3 underscores EIFO’s strategic objectives to support Ukraine, strengthen the Danish defence industry, and bolster European defence capabilities," explains Peder Lundquist, CEO at EIFO.
Details of the deal
- EIFO’s $5 million equity injection will enable D3 to expand its portfolio, provide capital and partnerships to startups, and enhance collaboration between the Ukrainian and European defence sectors.
- The partnership also opens opportunities for Danish companies to access cutting-edge defence technologies and knowledge through D3’s network.
