Their drones are battle-tested in Ukraine – now startup closes capital round

Danish drone and defense startup Upteko has raised DKK 10 million in a capital round. The capital round will be used to strengthen Upteko’s development and production of drones for defense and security, according to a press release.

In recent years, the company has invested heavily in technology development and developed three drone platforms that form the basis for the next phase of growth. In 2024, Upteko completed a strategic transformation with the hiring of CEO Jacob Støvring Christensen and an increased focus on the defence and security market. This is not the first time the company has raised double-digit millions. In a previous round, Upteko raised DKK 50 million.

“The last few years have been about building technology, products and organization. With the capital round, we are entering a new phase where the focus is on scaling the platforms we have already developed and put into operation with customers,” says Jacob Støvring Christensen.

Upteko was founded by Sebastian Duus and Benjamin Mejnertz, who both come from the top of the community that worked with model airplanes and remote-controlled helicopters before the drone wave.

Area is important for Europe

Upteko develops and manufactures drone platforms in Denmark with a focus on defense and security.

In recent years, the company has developed three drone platforms and built a technology base that will now form the basis for further product development, increased production capacity and international scaling. The drone platforms are battle-proven and tested in close cooperation with the defense and in Ukraine.

The ambition is to build a Danish defense company with international relevance – based on our own technological competencies, practical flight experience and European production.

“Europe needs more companies that build critical technology themselves instead of just

buy it elsewhere. Upteko is interesting because it’s not just an idea or a pitch deck. There is already a massive investment in technology and the company is working in an area that is becoming increasingly important for European independence,” says David Heinemeier Hansson, investor in Upteko.

The investors are Bo Møller, software entrepreneur and investor, Jesper Hougaard, who has experience with investments in tech and business development, as well as Upteko’s chairman Søren Bunk and his partner in DIS, Michael Gadeberg.