Finnish counter-drone company Sensofusion Plc plans to raise about €300 million ($343 million) in an initial public offering in Helsinki as it seeks funds to accelerate growth amid rising demand for technology to detect and neutralize drones. Four cornerstone investors have committed to subscribe for about €170 million of shares at a pre-money equity value of as much as €1.3 billion, Sensofusion said Wednesday.

Russia’s full-scale invasion of Ukraine has fueled demand for counter-drone technology as unmanned aerial vehicles have become an increasingly important part of modern warfare. Sensofusion, which more than doubled its revenue in the first half of 2026 to €26 million, is joining a growing number of European UAV and defense companies seeking to go public.

Sensofusion makes systems that detect, track and identify drones and can disrupt or neutralize them through methods including radio-frequency jamming and interceptor drones. Hundreds of its Airfence products are in operational use globally, including in Ukraine and the Middle East.

Sensofusion’s four cornerstone investors are Finnish pension insurers Elo, Ilmarinen and Varma as well as funds managed by OP Fund Management. The company plans to use the IPO proceeds to accelerate research and development in areas including software, artificial intelligence and satellite capabilities, expand production and testing capacity and strengthen its balance sheet.