Ukrainian reconnaissance drone manufacturer and specialised software developer Buntar Aerospace has raised $16 million in a new funding round, bringing the company’s total investment raised to $30 million.
Forbes Ukraine reported this, citing a company press release. The round was led by Freedom Fund and an international private equity fund. Gardar, Iron Wolf and Autonomy Capital also participated in the round.
The new funding will be used to expand production capacity, accelerate product development and strengthen the team with experienced engineers and managers.
Buntar Aerospace currently manufactures the Buntar-3 reconnaissance drone and is developing Buntar Copilot software, which helps operators make decisions directly during combat missions. The company plans to continue improving the software and expand into international markets with dual-use technologies.
Buntar Aerospace previously raised $10.4 million to develop technology for collecting and processing intelligence data. That funding round was led by global security technology company Axon Enterprise.
