Danish-Lithuanian drone manufacturer Monopulse raises over €2 million

Unmanned aerial vehicle manufacturer MNP Technologijos, operating under the Monopulse brand, has raised over €2 million from investors in Lithuania and abroad. The investment will be used to expand production capacity, support research and development, and accelerate the company’s entry into the Scandinavian and other international markets.

“We operate in a dynamic defence technology sector where technologies are evolving rapidly and customers demand secure manufacturing and resilient supply chains. This investment will enable us to scale our production capacity while ensuring that our customers receive our products quickly and on schedule,” says Justas Poderys, PhD founder and CEO of Monopulse.

The lead investor in the round is early-stage venture capital fund CoInvest Capital.  According to Viktorija Trimbel, managing director of the fund, Monopulse is already successfully operating in NATO markets, with its products being integrated into air defence and critical infrastructure protection systems.

“We invest first and foremost in teams, and the Monopulse team brings together a rare combination of deep engineering expertise and a strong understanding of what the military needs today. The company’s products also have clear civilian applications, so we believe that within the next few years, Monopulse could become an integral part of Europe’s defence supply chain – a company that allies turn to not because it is Lithuanian, but because it is the best,” says V. Trimbel.

Monopulse is currently pursuing strategic expansion into the Scandinavian market, while the new investment will enable the company to accelerate its entry into additional markets, including Germany, France and the Netherlands.

A further €560,000 was invested in Monopulse by business angel syndicate NGL Ventures together with 68 individual business angels. This is the largest syndicate in NGL Ventures’ history, driven by two years of successful cooperation with the company.

“What convinced us most was Monopulse’s commercial progress and the team’s ability to deploy capital effectively. Last year, the company more than tripled its revenue while raising a relatively small amount of external capital. Its technology is no longer just a prototype: the Falcon drones developed by Monopulse are already being used by the armed forces of several NATO countries. More importantly, the team continues to develop new products and has a growing pipeline of orders,” says Justinas Pašys, founder and CEO of NGL Ventures.

Other investors participating in the round include a group of angels from the Lithuanian Business Angel Network (LitBAN) and Plug and Play Ventures, an international venture capital firm and innovation platform headquartered in Silicon Valley, United States.

Monopulse develops and manufactures Falcon MK3S unmanned aircraft designed for surveillance and reconnaissance missions. The aircraft belong to NATO Class I (Mini) category and are equipped with multiple cameras, including night vision capabilities. Advanced communication systems ensure that operators can maintain control of the aircraft even in the event of GPS signal interference. The company is also developing the HydroHex unmanned platform, which can not only fly but also operate on the surface of the water.

Critical components used in Monopulse products are manufactured exclusively in countries friendly to Lithuania, ensuring the security and resilience of the company’s supply chain. Monopulse designs and manufactures all major components in-house, from the camera to the flight control computer.