Onodrim Industries raises $300M Series A to buy defense suppliers
Amsterdam-based Onodrim raised $300M at a $1.3B valuation, nine months after its seed, to take controlling stakes in European defense and industrial suppliers.
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Amsterdam, Netherlands
Onodrim Industries, an Amsterdam-based defense and industrial platform, raised a $300 million Series A at a $1.3 billion valuation on November 9, 2026, led by Lux Capital, to buy controlling stakes in established European aerospace, defense and industrial manufacturers.
European defense budgets are climbing fast, and the companies that turn budgets into hardware are mostly existing suppliers. Onodrim wants to own a string of them. Below, I lay out the round, the company, the size of the market and what the pattern tells us.
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Lux leads, General Catalyst and Lakestar come back
Onodrim announced the round in a press release datelined Amsterdam. At the November 6 reference rate of 0.89566, $300 million is about €269 million. Lux Capital led. General Catalyst, Lakestar, Altimeter, Strike Capital, 137 Ventures, 8090 and Expeditions also invested; the release does not give their roles. According to Tech.eu, General Catalyst and Lakestar were also among the leads of the seed.
The money goes into acquiring established aerospace, defense and industrial manufacturing companies, modernizing their processes, developing new products and opening offices in Munich and Turin. No target is named yet. Onodrim says its first acquisitions will come in the coming months.
“We are bringing permanent capital, technology and world-class operators to Europe’s best companies,” said co-founder and CEO Aistis Šimaitis.
Two Palantir alumni with a buyer’s playbook
Onodrim Industries was founded by Šimaitis, a former advisor to the Lithuanian government and technology leader at Palantir, and Alex Blessing, a former forward deployed engineer at Palantir who serves as CTO. Christian Garrett of 137 Ventures is also described as a co-founder. The company works from Amsterdam, London and Vilnius.
It raised a €40 million seed in February 2026, nine months before this round. The model is simple to state. Onodrim takes control of an existing supplier, keeps it for the long term and adds software, engineers and commercial support. The founding year and team size are not disclosed.
A $263 billion market and a capacity problem
The reality is that the budgets are already moving. EU defense spending reached €418 billion in 2025, up 20% on 2024, and is projected at €454 billion in 2026, according to the European Defence Agency (July 16, 2026). Equipment procurement alone is €115 billion. Meticulous Research (October 2026) sizes the European defense market at $263.0 billion in 2026, growing at a 6.5% CAGR to $493.7 billion by 2036. Estimates vary by publisher, and these two measure different things.
The silver lining is that the supply base already exists. Tech.eu describes Onodrim as a buyer of suppliers that address bottlenecks in Europe’s defense supply chain, and General Catalyst’s Jeannette zu Fürstenberg says in the release that European manufacturers already have the expertise and the customers. Imagine if a few of those manufacturers got permanent capital and new technology at the same moment. That is the bet Onodrim is making with this round.
Three lanes of defense capital, and a Dutch bet on the third
Put this round next to its neighbors on our own board. Hypersonica raised €100 million on November 2 to build hypersonic strike systems, co-led by Lightspeed and General Catalyst. Gallium Defense raised €7.1 million for a cheaper drone-detection radar. One lane builds weapons, one builds sensors and software, and Onodrim buys the industrial base underneath them.
What we are seeing is a defense category with an investor base for each layer. A wry detail sits in the cap tables. General Catalyst, a US firm, backs both Hypersonica and Onodrim, and Lux Capital, also US-based, leads this round. What to watch is the first acquisition, meaning which supplier sells, at what price and how the new owners run it. Every round we track lands in our fundraising data.
Europe has the order books, the engineers and now the permanent capital. Let’s watch that first deal closely, and let’s keep building the supply chain we keep asking for!
