Dutch defence tech startup Destinus is in advanced discussions to raise approximately €200m ahead of a planned IPO. Netherlands-headquartered Destinus, developing drones and cruise missiles, reportedly seeks a valuation exceeding €5bn based on projected annual revenues of about €500m. Founded in 2021 by CEO Mikhail Kokorich, the company has rapidly expanded through acquisitions and fundraising.

Last year, Destinus completed one of Europe's largest defence tech acquisitions by purchasing Swiss autonomous pilot startup Daedalean for $225m. This strategic move aimed to strengthen Destinus's AI and autonomous flight capabilities as the company develops strike drones and aircraft. The fundraising represents another major milestone for one of Europe's fastest-growing defence startups amid rising geopolitical tensions.

The ongoing funding discussions occur within a broader surge of investment in European defence technology. German startups Helsing and Quantum Systems have also secured substantial funding recently as dealmaking activity accelerates across the sector. Destinus began fundraising talks in recent weeks, according to Bloomberg sources, highlighting the sustained investor appetite for military technologies.