Amsterdam, November 9th / PRNewswire / -- The European Defense and Industrial Scaling Platform Onodrim Industries (referred to as “Onodrim”) announced today the completion of a $300 million Series A financing round, led by Lux Capital. Participants included General Catalyst, Lakestar, Altimeter, Strike Capital, 137 Ventures, 8090, Expeditions, and other new and existing investors.
This round of financing values Onodrim at $1.3 billion, following its earlier announcement of a $45 million seed round of financing earlier this year.
Onodrim indicates that this funds will be used to acquire mature enterprises in the aerospace, defense, and industrial manufacturing sectors. The company will acquire controlling stakes through permanent capital methods and leverage cutting-edge technology, operational capabilities, and business expansion experience to accelerate the growth of the acquired companies. Onodrim focuses on dual-use businesses in key areas of the European defense industry, covering supply chains, services, and products, which are aimed at addressing major bottlenecks in the European defense sector. Onodrim and its subsidiaries share a common mission: to strengthen Europe's defense and industrial foundation.
Onodrim, Co-Founder and CEO; Aistis; Š; imaitis stated: "Europe is not short of excellent companies. The challenge lies in how to enable these companies to obtain the resources they need to meet the current requirements for growth scale and speed. We are bringing permanent capital, technology, and world-class operational talent to provide resources for Europe's best companies, helping them to expand, compete, and strengthen the defense industry foundation of the European continent."
Lux Capital Partner Brandon Reeves states: "Europe needs a stronger industrial foundation to address future security challenges. We see a great opportunity to bring a new model of ownership and investment to Europe's most important enterprises." Aistis and Alex have assembled an outstanding team with both technical expertise and operational experience, capable of realizing this opportunity by combining permanent capital with the ambition to build enterprises on a long-term basis.
Onodrim is expected to announce its first round of acquisitions in the coming months. The company is also expanding its European presence, setting up an office in Munich as Onodrim Germany, and another office in Turin as Onodrim Italy, joining its existing offices in Amsterdam, London, and Vilnius.
General Catalyst President and Managing Director Jeannette zu Fü rstenberg states: "Every country needs to take control of its own destiny, and that begins with what it is capable of building. Mature manufacturers in Europe already possess professional capabilities, customers, and trust. What they need is technology that will help them evolve and undertake larger projects. Aistis and Alex have reimagined what industrial groups can be, combining world-class engineering talent with a deep respect for the companies they join. This is precisely how Europe's industrial base can be renewed from within."
Onodrim is led by co-founder and CEO Aistis Š imaitis. He has served as an advisor to the Lithuanian government and held a technical leadership role in Palantir Technologies, holding a degree from the University of Oxford; co-founder and Chief Technology Officer Alexander Blessing previously worked as a frontline deployment engineer in Palantir Technologies and holds degrees from Stanford University and the University of Cambridge. Ventures, a partner, is also one of the co-founders.
Onodrim The supported companies will receive capital, operational, business expansion, and technical resources to grow faster, undertake larger projects, and serve customers across Europe. They will also have access to engineering team support for developing new products and modernizing manufacturing and operations. This platform is designed to expand together with the invested enterprises.
Alex Blessing indicates that: "The approach of Onodrim is built on long-term cooperation and collaboration. We believe that Europe's industrial champions are created by investing in outstanding companies, empowering the talents behind them, and providing them with the resources needed for long-term growth. We welcome owners of defense, aerospace, manufacturing, and industrial enterprises to contact us as long as they share this vision; we also welcome outstanding engineering and operational talents who wish to help shape the future of European industry."
About Onodrim Industries
Onodrim Industries is a European technology-driven platform dedicated to strengthening the defense and industrial foundation of the European continent. The company provides technology, capital, and operational expertise to key industries such as defense, aerospace, and manufacturing. Its management team brings together senior experience from private equity firms, governments, advanced engineering firms, and global technology companies.
