The Swedish-Finnish company's AI-driven acoustic sensing technology is already deployed across the Nordics and Ukraine, with the new capital supporting rapid commercial expansion and product development.
Swedish-Finnish defencetech Monava, which specialises in acoustic drone detection, has closed an investment round with Gungnir Capital as the largest investor, together with Foundry Ventures and Hede Capital.
Monava combines advanced acoustics with AI to detect, track and classify drones. The system is fully passive, emits nothing that can be detected or jammed, and identifies threats where traditional sensors such as radar fall short. The capability has become operationally critical as the drone threat has grown worldwide.
Monava’s acoustic systems are today found across the Nordics and in Ukraine. Close cooperation and extensive testing with armed forces have built strong trust, and global demand for Monava’s sensors is growing rapidly. The growing order book now requires rapid scaling of the organisation.
According to Alexander Hebbe, CEO, Monava:
“The drone threat is evolving faster than most defence systems can keep up with.
Demand for our technology is now 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 demand from European defence customers.”
According to Max Villman, Managing Partner, Gungnir Capital, today, drones account for roughly 70 per cent of all casualties in the war in Ukraine, and we must develop the means to counter that threat.
“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.”
Patrik Olson, CEO, Hede Capital, shared:
“Monava solves a problem that is only becoming more and more important: detecting and identifying threats before they can be seen. By combining advanced acoustic sensor technology with AI, they can pick up signals in the air, on the ground and in the water that other systems miss.
This investment is a perfect fit with our investment strategy: smart, scalable and with real operational relevance for both defence and civil protection in the Nordics and internationally.”
As part of the investment, Gungnir Capital’s Managing Partner Max Villman joins Monava’s board of directors.
The capital will be used to commercialise the product and rapidly scale the organisation to meet market demand.