Denmark Invests $5 Million in Ukrainian Defence Innovation
The Danish Export and Investment Fund (EIFO) has announced a $5 million investment in the D3 defence technology venture fund to support Ukrainian defence tech.
The Gaze reports on this with reference to a statement from the Ukrainian government.
‘The investment will promote innovation in the defence sector in Ukraine and Europe by financing the development and scaling of new defence technologies, including drones, sensors, demining tools and artificial intelligence-based solutions,’ the statement said.
It was clarified that D3 acts as a kind of intermediary between Ukraine and partner countries, connecting startups with the capital and partnerships necessary to scale advanced technologies. The partnership between D3 and EIFO will have additional benefits for Denmark, giving Danish companies access to new technologies, Ukrainian expertise and partnerships.
‘EIFO became the first foreign state fund to invest in D3. At the same time, EIFO is implementing a guarantee system for investments in Ukraine's defence industry with a total budget of 1 billion Danish kroner (157 million US dollars),’ the government said.
The Cabinet of Ministers recalled that founded by Evelin Buchatska, Anton Verkhovodov and Ela Chiechieva in the summer of 2023, D3 aims to finance start-ups in areas such as unmanned aerial vehicles, autonomy, robotics, electronic warfare and demining.
As The Gaze reported earlier, in a major boost to Ukraine's defence industrial resilience and European security cooperation, Ukraine and Denmark have signed a landmark agreement to launch joint defence production on Danish territory.