Dutch defence and industrial technology company Onodrim has raised €268.01 million ($300 million) in a Series A funding round. The company is now valued at €1.16 billion ($1.3 billion).
The funding round was led by US investment firm Lux Capital. Existing investors General Catalyst and Lakestar also took part, along with Altimeter, Strike Capital, 137 Ventures, 8090 and Expeditions, among others.
“Europe has no shortage of exceptional companies. The challenge has been access to the resources needed to help them grow at the scale and speed the moment demands. We are bringing permanent capital, technology and world-class operators to Europe’s best companies, giving them the resources to expand, compete and strengthen the continent’s defence industrial base,” said Šimaitis, co-founder and CEO of Onodrim.
“Our approach at Onodrim is rooted in long-term partnership and collaboration. We believe Europe’s industrial champions are built by investing in great businesses, empowering the people behind them and giving them the resources to grow for the long term,” said Blessing, co-founder and CTO, Onodrim
Founded in 2026 by Aistis Šimaitis, Alexander Blessing and Christian Garrett, Onodrim takes inspiration from The Lord of the Rings. Like Palantir, its name comes from the fantasy series. Onodrim is an Elvish word for the Ents, tree-like creatures that join the fight in the story.
Onodrim buys majority stakes in established European companies working in defence, aerospace and manufacturing. It mainly focuses on small and medium-sized family businesses that are still run by their founders. The company then helps these businesses grow by providing long-term funding, technology and business development support.
Onodrim also wants existing founders to stay with their companies and continue managing them as part of its group. The company expects to announce its first acquisitions in the coming months.
Onodrim will use the new funding to support its plans to acquire more European businesses. The company is also expanding its presence across Europe by opening new offices in Munich, Germany, and Turin, Italy. These offices will join its existing locations in Amsterdam, London and Vilnius. Onodrim says it has already identified several companies it may acquire but has not shared their names.
The company is also focusing on key areas where supply chains face shortages. These include drone propulsion systems, sensors and radar technology, materials used in explosives, and aircraft structures.
