Onodrim Raises $300 Million Series A at $1.3 Billion Valuation to Acquire European Defence Suppliers

Amsterdam-based defence technology company Onodrim Industries has raised $300 million in a Series A funding round led by Lux Capital, valuing the company at $1.3 billion. The round includes participation from General Catalyst, Lakestar, Altimeter, Strike Capital, 137 Ventures, 8090 and Expeditions, alongside several other new and existing investors.

Announced on November 9, 2026, the financing follows a $45 million seed round announced earlier in the year. Onodrim plans to use its capital to acquire controlling stakes in established European defence, aerospace and industrial suppliers, helping them expand production capabilities and compete for larger contracts.

Founded by Aistis Šimaitis, Alexander Blessing and Christian Garrett, the company is pursuing a different approach to defence manufacturing. Rather than building new weapons and aerospace businesses from scratch, Onodrim intends to acquire existing companies and provide them with capital, technology and operational support.

An Acquisition-Led Model for Europe's Defence Industry

Onodrim focuses on established businesses operating across aerospace, defence and industrial manufacturing.

Its strategy is to acquire controlling stakes in companies that already have technical expertise, customers and relevant industry capabilities. It then aims to strengthen those businesses through investment in technology, operations and business development.

The company is particularly interested in dual-use businesses that can help address bottlenecks across Europe's defence supply chain.

This approach differs from the conventional venture-backed defence startup model, where companies typically develop new products and build manufacturing operations themselves.

Onodrim instead wants to work with existing industrial suppliers, including companies involved in producing components and systems used in missiles, drones and other defence applications.

The company says it will use permanent capital and long-term partnerships to support the businesses it acquires, while allowing existing management and engineering teams to remain involved.

Founders Bring Palantir and Government Experience

Onodrim was founded by Aistis Šimaitis, Alexander Blessing and Christian Garrett.

Aistis Šimaitis, CEO, previously worked as a technology lead at Palantir and advised the Lithuanian Government. His experience spans technology and government, providing a background relevant to the company's focus on European defence and industrial capabilities.

Alexander Blessing, CTO, previously worked as a forward-deployed engineer at Palantir. He studied at Stanford and Cambridge and is responsible for the company's technology direction.

Christian Garrett is also a co-founder and a partner at 137 Ventures, an investment firm that participated in the funding round.

The founding team's experience combines technology, government, investment and industrial strategy. Onodrim intends to apply that experience to businesses that already have established manufacturing capabilities but need additional resources to scale.

Why Investors Are Backing the Strategy

The $300 million round was led by Lux Capital, with General Catalyst, Lakestar, Altimeter, Strike Capital, 137 Ventures, 8090 and Expeditions among the other participating investors.

Investors see an opportunity to strengthen Europe's industrial base by providing established suppliers with the capital and technology required to expand.

General Catalyst's Jeannette zu Fürstenberg highlighted the importance of helping existing European manufacturers evolve and take on larger programmes. Lux Capital's Brandon Reeves also pointed to the opportunity for a new ownership and investment model focused on Europe's strategically important industrial businesses.

The $1.3 billion valuation is notable because, according to the supplied report, Onodrim has not yet announced any acquisitions. Its valuation therefore reflects investor expectations around the acquisition strategy, team and business model rather than the performance of an established portfolio of acquired companies.

The company previously raised $45 million in seed funding earlier in 2026, before securing the substantially larger Series A.

Expansion Across Europe

Onodrim currently has offices in Amsterdam, London and Vilnius. It plans to open additional offices in Munich and Turin as it expands its presence across major European industrial and defence markets.

The company expects to announce its first acquisitions in the coming months.

Its approach is designed to appeal to owners of established defence, aerospace and manufacturing businesses who want access to capital and technology while maintaining a long-term role in their companies.

The company is also inviting owners of relevant industrial businesses and engineering and operational professionals to approach it as it builds its acquisition platform.

Competition for Europe's Defence Suppliers

Onodrim is entering a market where strategic acquisitions and consolidation are becoming increasingly important.

Established defence companies are also expanding through acquisitions. Thales agreed to take over Exail for €3.9 billion in July 2026, while Renk agreed to acquire David Brown Defence.

However, Onodrim's model is different from that of a traditional strategic buyer. It is positioning itself as a long-term owner that combines permanent capital with software and operational expertise, with the intention of helping acquired companies grow rather than simply integrating them into a larger defence group.

The broader European defence market is also attracting significant investment. Dealroom data cited in the source article puts European defence technology investment at a record $7.4 billion so far in 2026, with US investors accounting for 47% of the total.

Major funding rounds have included Helsing's $1.8 billion financing at an $18 billion valuation and Quantum Systems' $1.2 billion raise at an $8 billion valuation.

Can Onodrim Turn Its Strategy Into Industrial Growth?

Onodrim's model addresses a significant challenge for Europe's defence industry: increasing production capacity requires more than funding new technology companies. Established manufacturers and component suppliers also need capital, modern technology and access to larger contracts.

However, the strategy carries execution risks. Onodrim must identify suitable acquisition targets, negotiate fair valuations and improve their operations without disrupting existing customer relationships or manufacturing capabilities.

Its first acquisitions will be an important test of whether the model can deliver on its ambitions.

With $300 million in Series A funding and a $1.3 billion valuation, Onodrim is positioning itself as a new kind of European defence industry builder, focused on acquiring and scaling the companies behind the continent's industrial supply chain.