Former Ukrainian Defense Minister Mykhailo Fedorov is launching a new defense technology company, with Alex Karp, CEO of US technology company Palantir, set to become its first lead investor. Fedorov’s team announced the launch of the project in a press release following his working visit to the United States.
The size of Karp’s investment, the name of the new company, its technological specialization and the total amount of funding have not yet been disclosed. What is known is that it will be a separate DefenceTech project developing technological solutions based on Ukraine’s experience of modern warfare and targeting not only Ukraine but also allied countries.
Alex Karp announced his support for the new project on August 31 during a meeting with Mykhailo Fedorov at Palantir’s Washington office. In a joint video, Karp said Fedorov’s team intends to transform knowledge gained in Ukraine about modern warfare into a technology product for allied nations.
“You and your colleagues are launching a company that, in my view, will become important for the entire world. You are turning your knowledge and understanding of the art of war into a product for allied countries,” Karp said.
Fedorov, for his part, stressed that Ukraine would remain one of the main priorities of the new project. According to him, Ukraine’s accumulated experience will be used to develop technologies capable of strengthening Ukraine’s defense capabilities, helping its allies and improving global security.
“We want to use our experience to create technologies that will strengthen Ukraine, help our allies and ultimately make the world safer,” Fedorov said.
The new company will be focused on the DefenceTech sector, although its specific areas of activity have not yet been announced. It has also not been disclosed whether the company will develop software, artificial intelligence systems, unmanned technologies, electronic warfare systems or other solutions for the defense sector.
At the same time, Fedorov’s team separately emphasized that the new DefenceTech company and the defense technology investment fund are two different projects. In parallel with establishing his own technology company, Fedorov is working on a fund that is expected to invest in Ukrainian DefenceTech startups and support the creation of new companies in the most in-demand areas.
Fedorov announced plans to establish the investment fund on August 30, after arriving in the United States for a working visit. He said the fund would not only invest in existing Ukrainian defense technology companies but would also participate in launching new projects.
“We plan not only to invest in Ukrainian DefenceTech companies, but also to create new companies ourselves that will specialize in technologies that are critically needed on the battlefield today,” Fedorov wrote on Telegram.
Fedorov’s ties with Palantir began developing during his time in the Ukrainian government. After leaving his post as defense minister, he said Alex Karp had personally called him and proposed a joint project. Palantir specializes in software for analyzing large volumes of data using artificial intelligence and works extensively with government and defense institutions.
Palantir’s current market capitalization on Nasdaq stands at around $441 billion, making it one of the largest companies in the US technology sector. Support for the project from its CEO could become an important factor in attracting further investment and international partnerships for the new DefenceTech company.
During his current visit to the United States, Fedorov also held a series of meetings with representatives of the US investment and defense communities. In particular, he publicly reported meetings with US diplomat William Taylor, Nate Fick, a senior director at investment firm Cerberus Capital Management, and Guy Filippelli, founder and managing partner of Squadra Ventures.
