Ukrainian drone developer Black Forest Systems has secured investment from the Double Tap fund.
The Finnish investment firm Double Tap Investments, which operates in Ukraine, has made its first investment in the Ukrainian startup Black Forest Systems, specializing in drone development, particularly the UAV "Verdict".
According to the press service of the investment company, this was reported by “Forbes Ukraine” in a statement.
The investment amount remains undisclosed. It is noted that the average investment size for Double Tap Investments (DTI) ranges from $100,000 to $300,000.
“In addition to supporting DTI’s strategy aimed at helping Ukraine achieve victory, this collaboration also plays a significant role in implementing the recently published Finnish Drone Systems Development Strategy – 2030,” stated the co-founder of the investment company, Jan Saarinen.
As mentioned in the press release, the first product of Black Forest Systems is the reconnaissance-strike drone for infantry support named “Verdict,” designed to eliminate enemy personnel during an assault or defense. It is built for use by a regular infantry soldier with basic technical skills.
The development took six months. “Black Forest Systems fully met our request for innovative technologies, the vision of battlefield impact, and partnership, which allowed us to be truly productive over the six-month period,” emphasized co-founder Oleksii Khudoba.
Reminder: In March of last year, Jan Saarinen visited Kyiv, where he held meetings with more than 20 Ukrainian startups specializing in defense technologies. He stressed that Ukrainian startups already need investments, but they should be directed “toward opportunities, not quantity,” as “there is no sense in filling warehouses with equipment that will become outdated in six months.”
Background. Earlier, Mind reported that the Finnish-Ukrainian venture fund Double Tap Investments announced that it would invest in Ukrainian defense startups. The investment company did not disclose the amounts involved.