Destinus is in talks to raise €200M in a growth round as it prepares for a potential public listing. The Netherlands-headquartered firm is reportedly targeting a valuation exceeding €5bn, underpinned by forecast annual revenues of approximately €500M. While specific participants in the current talks are not yet named, the round follows a period of aggressive expansion for the company.
Founded in 2021, Destinus develops high-speed drones and cruise missiles for the defence market. The company recently moved to consolidate its technical capabilities by agreeing to acquire Swiss AI pilot startup Daedalean for $225m. This integration is designed to bolster autonomous flight and artificial intelligence features across its fleet of strike drones and aircraft.
The current fundraising effort reflects a significant scaling of operations for the firm, which has utilised both organic growth and strategic acquisitions to build its portfolio. The reported revenue projections suggest a rapid commercial ramp-up, placing Destinus among the most highly valued privately-held aerospace and defence companies in the region.
The move highlights the surging appetitive for sovereign military technology in Europe, as venture and growth investors increasingly pivot toward dual-use and defence hardware amid shifting geopolitical realities.
Originally reported by Sifted.