Dear D3 Investors,
Ukraine has the cards.
If you are wondering, yes, we are getting approached from various
Total = 906 (+25)
We visited the European Defense Tech Hackathon in Munich during the Munich Security Conference. Since its launch in partnership with D3 in July 2024, the initiative has seen explosive growth, with more than ten hackathons planned for this year alone.
One observation stood out. Many teams return to multiple hackathons before formally launching and fundraising. European engineers, in particular, appear more hesitant to leave corporate roles and commit full-time to their startups—even as significant pre-seed capital has become available for defense tech. Too often, promising ideas remain side projects for months, if not years. This gap between ideation and company formation may be one of the largest untapped opportunities in the European ecosystem today.
ONODRIM
Registered: Netherlands
D3 Investment 1: $100K at $81M post-money
D3 Investment 2: $400K at $150M pre-money convertible note
Round 1: $20M
Round 2: $28M
Round Leads: Founders Fund, General Catalyst, and Lakestar