D3 Update, January 16, 2024

Hi Eric,

Life is back to normal in Kyiv after a rough end of the year. We welcome our new team member, Tetiana Poudel, as D3 General Counsel. Tetiana is Ukrainian and currently works at Spotify in London. She has been an IP and Corporate Lawyer at Facebook and YouTube. She will move to Kyiv and join us full-time on February 19th!

Deal Flow

Total = 240 (+4)

We are getting close to an investment offer to BUNTAR, an ISR drone company. See attached deck.

60 km range ISR droneTheir own mission control software integrated with various battle management systems. It promises to shorten the mission planning from hours to minutes by automating routine procedures. -The company is investing as much in software development as in its hardware prototyping.
CEO is currently an army officer (drone pilot and operator), which is a great advantage but also an issue as it may be illegal for him to create a business while serving. Many do.

We are trying to find a way to invest/work with balloon company Pegasus Aerospace, founded by celebrated Dr. Robert Zubrin, founder of the Mars Society. It is the best balloon tech we found so far, but the entire team comes from the Mars Society and it feels like talking to lunatics. See attached deck.

10 kg payload, 12h mission, 500 km range
can be used as long range loitering munition, recon, or decoy

We continue to search for a decent UGV company without success. See current landscape below. There are 15 companies and they all have issues that make them not investable at the moment. We reached out to the 3rd Assault Brigade to get more in depth info on what is working on the frontline and will update the landscape accordingly.

#	Company name	Drone name	Mission type	Payload	Base - wheeled/trakced	Stage
1	Vataga	Ratel	UGV kamikaze	1 anti-tank mine	Wheeled	Available
2	SkyLab	Sirko-S1	Multi purpose	200 kg	Wheeled	Available
3	Roboneers	Ironclad	Strike	Turret ShaBlya	Wheeled	Available
4	Engineering corps	Manhal	UGV kamikaze	1 anti-tank mine	Wheeled	Available
5	Keep robotics	Mule	Logistics	400 kg	Wheeled	Available
6	Keep robotics	Ant	Logistics / mining	40 kg	Wheeled	Available
7	Frontline		Strike	-	Wheeled	Concept
8	Roboneers	Camel	Multi purpose	350 kg	Wheeled	Available
9	Mind robotics	Mind deployer	Mining	4 anti-tank mines	Wheeled	Concept
10	Temerland	Gnom RPG7	Strike	RPG7	Wheeled	Available
11	Temerland	Gnom kamikaze	Kamikaze	1 anti-tank mine	Wheeled	Available
12	Temerland	Scorpio	Strike	Machine gun	Wheeled	Available
13	Temerland	Laska	Multi purpose	Machine gun	Wheeled	Available
14	Temerland	Turan	Logistics	500 kg	Wheeled	Available
15	Drone_ZP	Drone_ZP	Logistics		Wheeled	Available
16	Ark robotics		Kamikaze	1 anti-tank mine	Wheeled	Available
17	ISD Defence	D-21-11	Multi purpose		Wheeled	Available
18	DONS	Lyut'	Strike	Machine gun	Wheeled	Available
19		Plastun	Demining	-
20	Robocroc	Robocroc	Multi purpose	40 kg	Wheeled
21	Chaser run	RSVK4	Strike	Machine gun	Tracked	Concept
22	Edge cloud		Carryies 4g equipment to provide communications		Wheeled	Concept
23	Chaser run	BRP3	Logistics	250 kg	Wheeled	Concept
24	Chaser run	RSVK3	Strike	Machine gun	Wheeled	Concept

Portfolio news

HighCat received the export control license from the German MOD. They are coming to Ukraine this month to conduct official certification tests for their 2 drones. If all goes well, they will land their $10M contract with the Bundeswehr.
Swarmer founder/CEO is now part of a working group created by the government to address Ukraine's most pressing AI needs.
Drone Space has moved into a new factory. The transformation that has taken place since we invested is incredible. From a crowded small lab of hackers to a team of 66 people in a multistory building and a growing product line spanning FPV drones to EW stations to demining R&D and a drone engineering school, all is less than 6 months.

Drone Space Factory Floor

Drone Space Drone Engineering School

Deal Flow

Portfolio news

GR and Ecosystem