Lithuanian Co-Founded Onodrim Industries Becomes a Unicorn in Record-Breaking $300 Million Series A
Lithuanian Co-Founded Onodrim Industries Becomes a Unicorn in Record-Breaking $300 Million Series A
Onodrim Industries, a Lithuanian co-founded defence technology company backed by Iron Wolf Capital, has raised $300 million in Series A funding at a $1.3 billion valuation, in a round led by Lux Capital. The achievement marks the largest Series A ever raised by a European defence tech company and more than doubles the previous record for a Baltic startup.
The milestone makes Onodrim the second unicorn in Iron Wolf Capital's portfolio and represents a significant achievement for Lithuania's venture capital and startup ecosystem, bringing international attention to the region's growing role in defence technology and industrial innovation.
Building Europe's Defence and Industrial Capacity
Founded just over a year ago, Onodrim Industries takes controlling stakes in critical dual-use manufacturers, providing them with capital, technology and commercial capabilities to accelerate growth while keeping founders involved in their businesses.
Its approach addresses a growing challenge for Europe's defence industry: scaling the industrial supply chains and manufacturing capacity needed to meet increasing demand.
A Milestone for Lithuanian Venture Capital
For Iron Wolf Capital, this is the second unicorn emerging from its portfolio, just 18 months after launching its €100 million Defence, Sovereignty and Resilience Fund.
The achievement highlights the growing capacity of Lithuanian venture capital to identify and back ambitious companies operating in strategically important sectors, while demonstrating that Baltic-founded businesses can attract significant international investment and compete on a global scale.
Congratulations to Iron Wolf Capital, Onodrim Industries' co-founders Aistis Šimaitis, Alexander Blessing and Christian Garrett, and the entire team on this remarkable achievement.
