Onodrim raises $300 million for European defense acquisitions
The Amsterdam-based group says the Lux Capital-led funding round values it at $1.3 billion as it prepares to buy controlling stakes in established manufacturers.
Onodrim Industries has secured $300 million in funding to pursue controlling stakes in manufacturers serving aerospace, defense and industrial customers. The Amsterdam-based defense group said Lux Capital led the round, which gave the company a valuation of $1.3 billion.
The group said its acquisition strategy centers on long-term ownership rather than reselling businesses. It plans to support acquired companies with technology, engineering staff and sales assistance. Its targets include manufacturers serving civilian and military customers, alongside suppliers that could help relieve production bottlenecks affecting European defense.
Onodrim expects to announce its initial acquisitions in the coming months. It is also establishing offices in Munich and Turin, adding to locations in Amsterdam, London and Vilnius.
Other investors in the round include General Catalyst, Lakestar, Altimeter, Strike Capital, 137 Ventures, 8090 and Expeditions. The financing follows a €40 million seed round in February, nine months earlier, led by Founders Fund, Lakestar and General Catalyst.
Chief executive Aistis Šimaitis co-founded Onodrim after working at Palantir and advising Lithuania’s government. Fellow co-founder Alexander Blessing, the company’s technology chief, was a Palantir engineer. The third co-founder is Christian Garrett, a partner at 137 Ventures.
