Swedish investment company Front Ventures AB is investing 1.5 million euros, equivalent to approximately 16 million SEK, in the Polish-Ukrainian radar company Molfar Defence Technologies. The investment is made as lead investor in Molfar's first funding round, totalling 2 million euros.
Front Ventures states that, following the completed investment, the company holds a 10 per cent stake in Molfar Defence Technologies.
"We welcome Front Ventures as our first investor and partner in Molfar Defence Technologies. Their support is an important milestone in our ambition to build a new radar layer for modern air defence," says Maks Dzherikhov, co-founder and Chief Strategy Officer (CSO) of Molfar Defence Technologies, in the press release.
Molfar has developed a patented tactical radar system designed for the early detection and tracking of small, low-altitude airborne threats. The system is based on a multi-dimensional structural target representation combined with signal processing algorithms that analyse the physical signature of an airborne target. The architecture includes patent-protected waveform and operating mode functions designed to reduce the radar's probability of being detected and located by an adversary.
Molfar states that the company works in close collaboration with the Ukrainian Army and one of Poland's largest suppliers of defence and dual-use equipment. The funding will be used to expand the engineering team within radar development, signal processing, and system integration. The company is also establishing an office in Ukraine. Field tests are planned in Ukraine and NATO member countries, with the goal of progressing from prototype to validated systems approved for operational deployment.