Europe will increase its defense investment sharply in 2024 in response to Russian aggression.

Tuesday, October 1, 2024
Europe will increase its defense investment sharply in 2024 in response to Russian aggression.

European venture capitalists plan to invest $1B in defense technology by the end of 2024, which is 400% more than in 2018, as a result of Russian aggression in Ukraine. According to Dealroom, venture capital investment in defense technology outpaces any other type of investment in NATO countries by 25%.

Germany, Britain, and France invest the most in space technologies among European countries, with an 87% share, or $2.2B. Investments in defense technology increased by 300% in six years to almost $5.9B, and the total amount raised by defense startups in NATO and allied countries reached $18B.

So far, NATO countries have created 370 venture defense startups with a total value of $161B. Defense technologies account for 1.8% of European venture capital funding, 200% more than in 2022.

At the same time, despite investment growth in Europe, 83% of venture investments are in defense technology companies from the US.

 

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