The investment was led by Gungnir Capital, with participation from Foundry Ventures and Hede Capital. Financial details of the round were not disclosed. The company develops passive acoustic sensors that combine advanced sound recognition with artificial intelligence to detect, track and classify drones.
Unlike conventional radar-based systems, Monava’s technology emits no signals that can be detected or jammed, allowing it to identify aerial threats in environments where traditional sensors often struggle.
As drones become an increasingly significant component of modern warfare and critical infrastructure protection, passive detection systems have emerged as a key capability for defence organisations. Monava’s technology is already deployed across the Nordic region and in Ukraine, where extensive field testing and close cooperation with armed forces have helped validate its performance under real operational conditions.
"The drone threat is evolving faster than most defence systems can keep up with. Demand for our technology is increasing sharply, and the number of enquiries for our sensors exceeds our expectations daily. With Gungnir Capital, Foundry Ventures and Hede Capital behind us, we can accelerate development and meet the growing demand from European defence customers."
The new funding will support product development, commercialisation and a rapid expansion of the organisation as the company’s order book continues to grow. Monava also plans to increase production capacity to serve defence customers across Europe.
Investors see Monava as addressing one of the fastest-growing challenges in defence technology. “Today, drones account for roughly 70 percent of all casualties in the war in Ukraine, and we must develop the means to counter that threat,” said Max Villman, Managing Partner at Gungnir Capital. “Monava solves a real operational problem with technology that works in the field, and that is exactly the kind of company Gungnir Capital exists to back.”
Beyond military applications, the company’s technology is also attracting attention for protecting critical infrastructure and civil assets. “Monava solves a problem that is only becoming more important: detecting and identifying threats before they can be seen,” said Patrik Olson, CEO of Hede Capital. “By combining advanced acoustic sensor technology with AI, they can detect signals in the air, on the ground and in the water that other systems miss. The investment aligns perfectly with our strategy of backing smart, scalable technologies with real operational relevance for both defence and civil protection.”
Foundry Ventures also highlighted the company’s technological differentiation. “Monava combines advanced acoustics with AI in a way no one else does in drone detection, and we are proud to back them from the start,” said Anders Nygren, Founding Partner at Foundry Ventures.
As part of the transaction, Max Villman will join Monava’s Board of Directors, strengthening the company’s strategic leadership as it prepares for its next phase of growth. With European governments significantly increasing defence spending and counter-drone technologies becoming a strategic priority, Monava is positioning itself to capitalise on a rapidly expanding market for passive, AI-driven threat detection systems.
