Acoustic drone detection: Monava brings in Gungnir Capital, Foundry Ventures and Hede Capital as investors

Fresh capital for acoustic drone detection: Monava, a Swedish-Finnish defence company, has secured investment to further develop its AI-supported technology, which is already being used in Ukraine. The backers are three venture capital firms known for funding numerous military technology projects: Gungnir Capital, Foundry Ventures and Hede Capital.

In the company's press release, CEO Alexander Hebbe describes the situation:

The threat posed by drones is evolving faster than most defence systems can keep up with. Demand for our technology is booming, and the volume of enquiries about our sensors regularly exceeds expectations— Alexander Hebbe, CEO of Monava

With the support of Gungnir Capital, Foundry Ventures and Hede Capital, we can accelerate our development and meet demand from European defence customers.— Alexander Hebbe, CEO of Monava

The largest investor in this funding round is Gungnir Capital. The fund is sending its managing partner Max Villman to the company's board.

How Monava's acoustic drone detection works

The passive acoustic sensors developed by Monava detect, track and identify drones using artificial intelligence. Since it emits nothing itself, the system is also suited to environments where radar and radio frequency sensors reach their limits.

With the new funding, Monava will bring to market a technology that detects, tracks and classifies drones using advanced acoustics and artificial intelligence, without interfering with them. This is achieved with practical sensors that can be mounted on a wide range of platforms – from vehicles to small boats.

At the same time, rapid growth poses new challenges for the company, as Alexander Hebbe explained:

A year ago there were three of us. Today there are twenty. The biggest challenge is to grow the business sustainably without compromising on quality – whether in recruitment or in strategic decisions— Alexander Hebbe, CEO of Monava

In his words, Monava solves a real operational problem with practical technology – the kind of company Gungnir wants to support. The company also operates where AI, software and hardware meet, a field in which the fund has great confidence.