This is the largest investment in a Ukrainian defence tech company since the start of the war.

The investor in the Falcons’ recent funding round is Green Flag Ventures.

The USF has invested $25,000 each in 7 startups and $50,000 each in 6 startups.

Among the investors is Double Tap Investments, a Ukrainian-Finnish firm focused on dual-use and defence technologies.

The firm saw support from MITS Capital and Green Flag Ventures.

Led by MITS Capital, the deal sets a precedent for future international investments in Ukraine's defence tech sector.

The new $50 million fund received backing from IFC and EBRD.

The seed funding round received support from Purple Ventures and Pragmatech Ventures.