U.S. Venture Firm Makes Landmark Investment in Ukrainian Defense Company
In a groundbreaking move for Ukraine’s defense tech sector, U.S.-based venture capital firm MITS Capital has invested $3.74 million in the Ukrainian robotics manufacturer Tencore.
The Gaze reports on this with reference to a statement by Ukraine’s Ministry of Digital Transformation.
“For the first time ever, a U.S. venture capital fund has made a direct investment in a Ukrainian defense tech company – through a Ukrainian legal entity registered in Diia.City,” the statement reads. “We congratulate the Tencore team on this strong achievement. We remain committed to building the best conditions for attracting investment into Ukrainian companies.”
The above-mentioned Diia.City is Ukraine’s special legal and tax framework for tech companies that enables international-standard venture funding mechanisms.
Tencore will use the funds to scale up research and development, expand its manufacturing capabilities, and accelerate deployment of its signature unmanned ground system, TerMIT.
The TerMIT platform, which has undergone extensive frontline testing, is NATO-standard certified and is already widely used by Ukraine’s Armed Forces.
To date, Tencore has produced over 800 units, with plans to increase production to 2,000 systems by the end of 2025.
Diia.City, launched to bolster Ukraine’s digital economy, offers a regulatory environment that aligns with best practices in the U.S. and EU. It enables startups and tech firms to attract funding more transparently and securely without leaving the country.
Earlier this year, Ukrainian officials announced plans to deploy up to 15,000 robotic combat systems to the front lines in 2025.
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