Destinus is raising €200M ahead of an IPO. The cruise missile maker wants a €5B valuation.
TL;DR
Dutch defence startup Destinus is seeking €200M at a €5B+ valuation ahead of a planned Amsterdam IPO, Bloomberg reports.
Destinus, the Netherlands-headquartered defence startup that manufactures cruise missiles and autonomous drones, is in talks to raise approximately €200 million ahead of a planned initial public offering, Bloomberg reported on Friday, citing people familiar with the matter. The company is seeking a valuation north of €5 billion based on forecast annual revenues of roughly €500 million.
Founded in 2021 by Mikhail Kokorich, a Russian-born physicist and serial entrepreneur who renounced his Russian citizenship in 2024 in protest against the war in Ukraine, Destinus has grown from a hypersonic aviation research project into one of Europe’s most significant defence industrial companies. The startup employs 750 engineers and specialists across production facilities in the Netherlands, Germany, Spain, and Ukraine, and manufactures more than 2,000 cruise missile systems annually.
The company’s product...
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