Ukrainian defence tech startup Swarmer went public on the Nasdaq on March 17 under the ticker SWMR, with US-based Lucid Capital Markets managing the IPO. As planned, the company sold 3 million shares at $5 each, raising approximately $15 million before fees.
The stock surged almost instantly, jumping 6× by the close of trading and rising as much as around 8× at its peak in after-hours. It finished the day at $31 per share and later climbed to above $40, pushing the company’s market capitalization to well over $400 million and approaching $500 million at its peak.
Trading is scheduled to end today, 18 March.
"This is a historic milestone for the Ukrainian startup ecosystem and for Ukraine’s defense industry, as Swarmer has become the first Ukrainian startup to achieve this," explains Alexander Soroka, Managing Partner at Network VC, one the Swarmer's early investors.
About Swarmer
- Founded in 2023 by Serhii Kupriienko and Alex Fink, Swarmer develops AI software for unmanned vehicles, enabling them to operate autonomously and in coordinated swarms.
- The system allows a single operator to control hundreds of drones, ground vehicles, or sea vessels, with vehicles making real-time decisions even in GPS-denied or electronic warfare environments.
- Before the IPO, Swarmer raised $15 million in a 2025 Series A round, $2.7 million in 2024, and previously received funding from D3 Ventures and a $50,000 grant from Brave1.
- Swarmer is the first Ukrainian defence tech company to go public on Nasdaq.
