D3 Steps Out of Stealth With One of Europe’s Most Ambitious Defence Tech Portfolios
The fund has been working behind the scenes for two years.
After nearly two years operating quietly, the defence tech fund D3 is stepping into the open. Launched in July 2023 with a focused mission — help Ukraine win and build the future of NATO defence — D3 has now revealed its first set of investments and a clear thesis: no dual-use distractions, no commercial pivots. Just military tech, built for war.
With 16 investments across 10 verticals in five countries, D3 has quickly become one of Europe’s most active defence-focussed investors. The company is co-founded with a number of major players in the defence tech world, including Eveline Buchatskiy of TA Ventures and airSlate. The companies span autonomous drones, counter-drone systems, secure battlefield networks, and robotic ground systems — all under what the fund calls the “New Defence” category. These are not spinouts from general-purpose tech startups. They’re built for the front, by founders who understand what’s at stake.
D3’s approach is simple. It backs companies solving hard military problems with speed, clarity, and purpose. The fund’s founders have kept a low profile until now, choosing to spend their time helping teams move fast rather than making noise. But with battlefield results starting to materialise, they’re beginning to share what’s working.
The newly announced portfolio includes:
Ailand Systems: autonomous drones for demining
Frontline: ruggedised ground robots
Swarmer: coordinated autonomy for robotic units
Flightmind: GNSS-denied navigation tech
Guardian RF: real-time drone detection
HIGHCAT: European-built unmanned systems
Zvook: acoustic threat detection
And several companies still in stealth, including teams working on battlefield power systems and next-gen missile defence.
Every company is building for real-world combat. Every product is aimed at filling a known gap.
As defence startups take on a more central role in Europe’s security strategy, D3 is positioning itself as the fund that doesn’t hedge. Its thesis is clear: support warfighters with the tools they actually need — and do it fast.
For founders building in this space, D3’s announcement is also an open invitation. If you’re working on core military tech and want to build alongside others doing the same, D3 is now very much out in the open — and looking.
