Onodrim raises $300M to strengthen Europe’s defence foundations
Onodrim will use the capital to acquire established businesses across aerospace and defence, and industrial manufacturing. The Dutch scale-up platform focuses on dual-use businesses in critical industries across supply chains, services and products.
Onodrim Industries, a Dutch defence and industrial scale-up platform, has announced a USD 300 million Series A led by Lux Capital, with participation from new and existing investors including General Catalyst, Lakestar, Altimeter, Strike Capital, 137 Ventures, 8090, Expeditions, and more. The financing values Onodrim at USD 1.3 billion and follows the USD 45 million seed round announced earlier this year, according to a media release.
Onodrim will use the capital to acquire established 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. Onodrim focuses on dual-use businesses in critical industries across supply chains, services, and products that solve major bottlenecks for the European defence industry, the media release said.
“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 Aistis Šimaitis, Co-Founder and CEO of Onodrim. “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.”
“Europe needs a stronger industrial foundation to meet the security challenges ahead," said Brandon Reeves, Partner at Lux Capital. "We see an enormous opportunity to bring a new model of ownership and investment to the continent's most important businesses. Aistis and Alex have assembled an exceptional team with the technical depth and operational experience to realize that opportunity, combining permanent capital with the ambition to build businesses for the long term.”
Onodrim expects to announce its first acquisitions in the coming months. The company is also expanding its European presence with the office openings of Onodrim Germany in Munich and Onodrim Italy in Turin, joining its existing offices in Amsterdam, London and Vilnius.
“Europe's established manufacturers already have the expertise, customers, and trust. What they need is technology that helps them evolve and take on larger programmes,” said Jeannette zu Fürstenberg, President and Managing Director at General Catalyst. “Aistis and Alex have reimagined what an industrial group can be, matching world-class engineering talent with deep respect for the businesses they join. That is how Europe's industrial base renews itself from within.”
