Ukrainian defense tech startup M-FLY, which makes laser guidance systems and civilian gimbals for UAVs, has raised $1.3 million from angel investors and four funds.
Resist.ua, MITS Capital and Freedom Fund joined in the round. Boris Shestopalov and other angel investors from Ukraine, Denmark, Grenada, the United States, as well as an Estonian miltech company also participated in the round.
In addition to the closed funding round, M-FLY received two grants from BRAVE1 in 2024: $25,000 and $50,000.
"The raised funds will be used to complete the development of a laser targeting device and semi-active guidance units. This solution is unique in its EW resistance and high accuracy (over 95% hit rate). In addition, M-FLY can be used for air defense systems," the startup commented to AIN.
Currently, M-FLY has the first iterations of its products, some of which are already being tested in the combat zone, and is actively preparing for mass production and sales.
The team is also planning a new round of funding that will allow them to build a fully autonomous product based on their existing ones. This will include the integration of a swarm management system and AI-based solutions.
AIN spoke with M-FLY founder and CEO Vladyslav, as well as the startup's COO and co-founder Yaroslav, about their laser guidance systems, fundraising challenges, and how to develop a deep-tech technology that no one believed in. The interview is already available in Ukrainian and the version in English will be available shortly after.
