In August 2023, the co-founders of Uklon stepped back from operational management of the company and this year established an investment fund to support Ukrainian defense tech companies. The fund aims to invest $2 million in 8-10 defense tech startups during their seed rounds, with individual investments ranging from $200,000 to $500,000.
The team will also provide startups with expert assistance in marketing, sales, back-end development, and can help build relationships with the military and volunteers.
The fund’s first investment was in Buntar Aerospace, a Ukrainian startup developing reconnaissance UAVs with vertical take-off and landing capabilities. Founded in August 2023, by Ivan Kaunov, Kateryna Beszvudna, and Bohdan Sas, the company develops two products:
Buntar Copilot: software for planning and executing reconnaissance missions that generates dynamic flight plans considering all tactical and technical details such as situational awareness, weather forecasts, elevation maps, signal maps, and other sources. It automates 90% of the UAV operator’s work in planning and managing missions and is compatible with other UAVs.
The funding will be directed towards R&D, component purchasing, and team expansion. Currently, testing of the Buntar One UAV is underway at the testing ground, along with the integration of the Buntar Copilot software with other UAVs.
Earlier this year, the Buntar Aerospace team secured $2.2 million in investments. The round included participation from both Ukrainian and foreign investors, most of whom prefer to remain undisclosed.
