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# Breaking records and buying up defence companies: Onodrim raises $300M Series A at $1.3B valuation
- URL: https://fomo.observer/breaking-records-and-buying-up-defence-companies-onodrim-raises-300m-series-a-at-1-3-m-valuation/
- Published: 2026-11-09T14:36:39.000Z
- Updated: 2026-11-09T14:50:43.000Z
- Author: Fiona Alston
- Tags: News, Unicorn, Iron Wolf Capital

**AMSTERDAM** \- Defence startup [Onodrim Industries](http://onodrim.com/?ref=fomo.observer) has raised a huge Series A round, $300 million, mammoth by Baltic founders standards. Not only is there a Baltic founder on the team, with CEO Aistis Šimaitis representing Lithuania in that regard, the news also involves the Baltics VC firm Iron Wolf Capital who backed their €40 million Seed round. 

This latest round, which sees the company become the latest defence unicorn and the largest (known) Series A round in the Baltics, was led by Lux Capital, and includes General Catalyst, Lakestar, Altimeter, Strike Capital, 137 Ventures, 8090, and Expeditions. 

> “This is the largest Series A ever raised by a Baltic founder, and its significance goes well beyond one company. It shows that founders from our region can build European-scale companies in the sectors that matter most to Europe’s security. Baltic founders bring a first-hand understanding of what resilience requires, and today’s round shows global investors see that too. We expect Onodrim to inspire the next generation of Baltic founders to aim just as high, and we intend to be there to back them,” said Kasparas Jurgelionis, Managing Partner at Iron Wolf Capital. 

Onodrim will use the capital to acquire established dual-use businesses across aerospace and defence, and industrial manufacturing. The company takes controlling stakes with permanent capital and applies cutting-edge technology, operational and business development expertise to accelerate their growth. Already located in Amsterdam, London and Vilnius the firm will expand with new offices in Munich and Turin. First acquisitions are expected in the coming months. 

Šimaitis is a former advisor to the Lithuanian Government and technology leader at Palantir Technologies, he founded the company this year with CTO Alexander Blessing, a former Forward Deployed Engineer at Palantir. Christian Garrett, Partner at 137 Ventures has also joined as a co-founder. 

> “Europe has no shortage of exceptional companies. The challenge has been access to the resources needed to help them grow at the scale and speed the moment demands,” said Šimaitis “We are bringing permanent capital, technology and world-class operators to Europe's best companies, giving them the resources to expand, compete and strengthen the continent's defence industrial base.”

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