An Estonian arms company with production in Ukraine raises €4M, while Swedish Saab AB locates a Ukrainian partner.

The Estonian defense firm Frankenburg Technologies secured €4M in investment to develop anti-aircraft missiles. The company’s market value has surged by nearly 200% and now stands at €150M. The new investor is London-based Blossom Capital II LP. Shellona Ltd. has also increased its stake, with both companies investing €2M. In 2024, Frankenburg Technologies joined the list of European arms manufacturers opening anti-drone system production capacities in Ukraine.

Meanwhile, Switzerland is raising concerns as its exports of weapons, ammunition, and related materials dropped by 27% in 2023 and another 5% in 2024. This decline stems from the country’s neutrality legislation prohibiting weapons export and re-export to countries involved in armed conflict, including Ukraine. Consequently, Germany, the Netherlands, and Denmark have cut back on purchases of Swiss arms.

Additionally, Swedish defense company Saab AB signed a memorandum of strategic cooperation with Ukrainian Radionics in the field of sensors and defense electronics to bolster Ukraine’s defense capabilities.