Frankenburg Technologies, an Estonian startup founded in 2024, has announced a €30 million Series A funding round to develop cost-effective and mass-manufacturable missile defence systems.

Objectives and Production

Led by former permanent secretary of Estonia’s defence ministry, Kusti Salm, the company aims to establish a sovereign missile-manufacturing capacity in Europe. The stated goal is to overcome bottlenecks in European air defence, with plans to create two EU-based production sites capable of producing over 100 missiles per day per site.

Funding and Vision

The funding round was led by Plural, an Estonian fund founded by Taavet Hinrikus (Wise), with participation from SmartCap. The total funding raised by the startup now amounts to €40 million. Salm emphasized that Europe’s deterrence problem is not just about budgets, but also about the availability of effective systems that are quick to replace and can be used on a large scale.