Arctic Ravn launched its convertible loan round in October, and received EUR 2.5 million in investment commitments in five days
To increase its manufacturing capacity for drone electronics, Finnish defence technology company Arctic Ravn has secured EUR 2.5 million in investment commitments within five days, exceeding its EUR 2 million funding target.
In a press statement, Arctic Ravn says that the funding will support production expansion and product development as the company prepares to supply European defence manufacturers.
According to the statement, the company has invested more than EUR 1 million in scaling up production of its Electronic Speed Controllers (ESCs), which regulate drone motor speed. It aims to manufacture tens of thousands of units by the end of the current year, with a significant share already reserved by customers.
Matti Vansén
The next phase of production expansion will focus on Flight Controllers (FCs), while the company plans to increase its annual production capacity to up to 2 million circuit boards in the longer term.
“Investors committed to the round within days, even though we have not yet officially launched a single product. Follow-up orders and discussions with several leading defence manufacturers indicate a need for high-performance European drone electronics. We are now scaling our manufacturing capabilities for industrial-level output and strengthening Europe’s ability to produce critical drone electronics,” says Matti Vansén, Chief Executive Officer of Arctic Ravn.
