Denmark invests US$5m in development of Ukraine's defence innovation

The Export and Investment Fund of Denmark (EIFO) has announced a US$5 million investment in the defence technology venture fund D3 to support Ukrainian defence tech.

Source: a statement by the Ukrainian government, as reported by Oboronka, a defence industry project created by Mezha.Media, a technology and IT news platform within Ukrainska Pravda's holding company

Quote: "The investment will foster innovation in the defence sector in Ukraine and Europe by financing the development and scale-up of new defence technologies, including drones, sensors, mine clearance and artificial intelligence solutions."

Details: D3 acts as an intermediary between Ukraine and its partner countries, connecting startups with the capital and partnerships necessary to scale cutting-edge technologies. The partnership between D3 and EIFO will also bring benefits to Denmark by giving Danish companies access to new technologies, Ukrainian expertise and strategic partnerships.

Quote: "EIFO is the first foreign sovereign wealth fund to invest in D3. At the same time, EIFO is implementing a guarantee system for investments in Ukraine's defence industry with a total budget of DKK 1 billion (US$157 million)."

Details: The Ukrainian government pointed out that D3, founded in the summer of 2023 by Eveline Buchatskiy, Anton Verkhovodov and Elia Chiechienieva, aims to fund startups in areas such as unmanned aerial systems, autonomy, robotics, electronic warfare and demining.

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