Dear D3 Investors,
Total = 906 (+25)
TYTAN TECHNOLOGIES
D3 Investment: $621K (pro rata) at a $140M pre-money valuation
Round: $35.7M Series A
Round Leads: Armira and the NATO Innovation Fund (NIF)
Our partnership with Tytan has been a long and deliberate journey. Given the central role of air defense over the past two years, we have worked closely with the team to accelerate their path from development to combat deployment.
That effort has now translated into concrete results. Tytan has signed a contract to deliver 1,500 interceptors to Ukraine in Q1 2026. To support execution, the company has significantly expanded its presence in Ukraine, opening a new office, appointing a country manager, and relocating a German engineer from Munich to Kyiv.
This follow-on investment reflects our conviction in Tytan’s technology, execution capability, and growing operational footprint at a moment when demand is both urgent and durable.
Tytan Technologies Follow-On Investment Case:
Follow on Investment Case Tytan Technologies, January 2026.pdf
BUNTAR
D3 Investment: $100K at a $26M valuation cap, 30% discount
Round: $5.4M pre-A
Lead Investor: Axon
In 2025, Buntar successfully entered the market with its VTOL ISR platform Buntar-3, generating nearly $6M in annual revenue, including a $2.5M contract with Ukraine’s Defense Procurement Agency (Ministry of Defense). This demonstrates that the company has completed the full commercialization cycle: testing, certification, demand generation, contracting, and scheduled deliveries through Q1 2026.