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Private capital and the global surge in defence startups: Who’s getting funded — and why

Private capital and the global surge in defence startups: Who’s getting funded — and why

Around the world, governments are increasing their focus on security, resilience, and advanced technology — and the result is a new generation of defence-focused startups attracting serious private capital.

From autonomous drones and AI-powered platforms to space systems and dual-use technologies, these companies are reshaping how innovation supports national and global security. Venture capital is already heavily involved. Now, private equity is beginning to follow — carefully, but at scale.

The opportunity is growing — but so are the risks. With complex regulatory environments, evolving compliance expectations, and reputational considerations, the defence sector demands sharper diligence and strategic alignment than most.

In our latest deep dive, we explore:

  • The key trends drawing investor attention to defence innovation
  • How dual-use and software-defined systems are driving capital efficiency
  • The emerging shift in sentiment that’s opening new doors for private investors

We profile 20 of the most heavily funded defence startups across the US, Europe, and beyond — including what they’re building, how much they’ve raised, and who’s investing.

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