The Ukrainian defense technology company Falcons has secured investment from the U.S. venture fund Green Flag Ventures to scale up production of its direction-finding system and other products, obtain NATO certification, and offer its solutions to allies.
Founded in 2022 in response to Russia’s full-scale invasion, Falcons specializes in creating affordable solutions that operate in GPS-denied environments. Its direction-finding system detects enemy devices emitting radio signals on specific frequencies, including drones, communication equipment, relay stations, and electronic warfare tools. The company’s flagship product, the tactical-level ETER direction-finding complex, has already proven effective on the battlefield, including confirming the destruction of a Russian system valued at around $90 million.
The funding, the exact amount of which has not been disclosed, will be directed toward three key objectives:
- NATO standardization and scaling of ETER production.
- Expanding the team by hiring engineers and military practitioners.
- Preparing for exports by developing a NATO market entry strategy.
“This investment is proof that Ukrainian combat experience creates technologies with global relevance. Our next step is to scale ETER’s production, align with NATO standards, and deliver capabilities allies can trust. Backed by Green Flag Ventures, we can move faster from battlefield lessons to systems that strengthen the Alliance’s electronic warfare resilience. We’ll use part of the investment to gain market insights, plan production, and deliver operational solutions, helping Ukrainian tech enter global markets faster and stronger when exports are officially open to allied partners,” said Yegor Dudinov, CEO and co-founder of Falcons and an active servicemember with experience in strategic planning and product management.
Green Flag Ventures, founded by Justin Zief and Deborah Fairlamb, works with dual-use technology startups (defense and civilian) and actively invests in Ukraine’s defense innovation sector.
“Falcons is a shining example of Ukraine’s defense innovation ecosystem,” said Deborah Fairlamb, co-founder of Green Flag Ventures. “The company has proven its ability to design, deploy, and refine battlefield technology, shaping the future of electronic warfare defense for Ukraine and its allies.”
The ETER direction-finding complex stands out for its GPS independence, compact design, and cost advantage—being 30–50 times cheaper than comparable NATO solutions. In combat, it has demonstrated coverage of over 600 km, combining precision and adaptability.
“Falcons proves that by combining engineering, operational insights, and field experimentation, cross-functional teams can deliver electronic warfare capability at the speed of modern conflict. Helping Ukraine accelerate its own weapon and EW development is key to gaining an enduring advantage over Russia. This isn’t just a Ukrainian asset – it’s a recipe for strategic advantage for the entire Alliance.”
With support from Green Flag Ventures, Falcons aims to accelerate the delivery of scalable, affordable systems tested in one of the most challenging combat environments in the world, providing NATO and allied countries with reliable solutions for the future.
