The defense electronics industry in the DACH region focuses on advanced technologies that enhance military capabilities and safety. Companies range from established giants like Siemens and Bosch to innovative startups working on robotics, radar, and cybersecurity. This field is undergoing rapid transformation driven by technological advancements like artificial intelligence and drone technology. With increasing global security concerns, investments are shifting towards developing sophisticated systems that meet modern defense needs. The intersection of civilian and military applications is emerging as a notable trend, showcasing the fluidity of technology transfer between these sectors.


In 2024, investors in the DACH defense electronics sector showcased varied profiles, ranging from corporate giants like Siemens and Bosch to focused venture capital firms such as Bayern Kapital and eCAPITAL. Most of these firms, founded between the 1980s and 2000s, operate on a scale from small teams to large entities boasting thousands of employees. Deal count varied, with some like HV Capital participating in 28 funding rounds, reflecting aggressive investment strategies aimed at fostering innovation in defense technologies.


Top 18 Defense Electronics Investors in DACH


1. Bayern Kapital

  • Website: bayernkapital.de
  • Type: Venture Capital
  • Headquarters: Landshut, Bavaria, Germany
  • Founded year: 1995
  • Headcount: 11-50
  • Number of deals in 2024: 27
  • LinkedIn: bayern-kapital-gmbh

Bayern Kapital is a venture capital firm based in Landshut, Bavaria, Germany, founded in 1995. The firm specializes in providing investment and growth capital to innovative high-tech startups and scale-ups in Bavaria. Bayern Kapital supports its clients with financial resources and access to a network of industry experts, helping them navigate the challenges of growth and development in various sectors, including life sciences and software. Notably, Bayern Kapital has been involved in significant transactions such as funding Quantum Systems, a pioneer in AI-powered drone robotics, which raised €63.6 million in a Series B round in October 2023, and previously secured $32 million in a Series A round in June 2022. These investments highlight Bayern Kapital's engagement in technology that has applications in the defense sector, particularly in drone technology, which is increasingly relevant in modern defense electronics.


2. Bosch

  • Website: bosch.com
  • Type: Corporate
  • Headquarters: Birenbach, Baden-Württemberg, Germany
  • Founded year: 1886
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: bosch

Robert Bosch GmbH is a multinational engineering and technology company founded in 1886, headquartered in Birenbach, Baden-Württemberg, Germany. With over 10,000 employees, Bosch operates across various sectors, including mobility, consumer goods, industrial technology, and energy solutions. The company is dedicated to sustainability and improving quality of life through innovative technology. Notably, Bosch has made strategic acquisitions that enhance its capabilities in areas relevant to defense electronics. For instance, the acquisition of Telex Communications in 2006, a manufacturer of professional audio and communication equipment, expands Bosch's portfolio in communication technologies, which are critical in defense applications. Additionally, the planned acquisition of Paladin Technologies in 2023, a provider of security and life safety solutions, further demonstrates Bosch's interest in sectors that overlap with defense needs. These transactions highlight Bosch's potential relevance in the defense electronics industry, despite its broader focus on various technology sectors.


3. Siemens

  • Website: siemens.com
  • Type: Corporate
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 1847
  • Headcount: 10001+
  • Number of deals in 2024: 11
  • LinkedIn: siemens

Siemens AG is a leading technology conglomerate based in Munich, Bavaria, Germany, specializing in industrial automation, energy solutions, rail transport, and health technology. Founded in 1847, Siemens operates globally with approximately 320,000 employees and generates significant revenue. The company has made strategic acquisitions to enhance its technological capabilities, including the acquisition of American Electronic Components in 2005, which could provide components relevant to defense electronics. In 2021, Siemens announced the acquisition of Supplyframe, an industry network for electronics design and manufacturing, which strengthens its portfolio in technology fields that may intersect with defense applications. Furthermore, Siemens' acquisition of COMSA Computer und Software GmbH in 2018 enhances its capabilities in electrical systems design, potentially relevant for defense electronics applications. These transactions indicate Siemens' active role in sectors that could support defense electronics, making it a relevant investor in this category.


4. Hensoldt

  • Website: hensoldt.net
  • Type: Corporate
  • Headquarters: Taufkirchen, Bavaria, Germany
  • Founded year: 2017
  • Headcount: 5001-10000
  • Number of deals in 2024: 1
  • LinkedIn: hensoldt

Hensoldt AG, founded in 2017 and based in Taufkirchen, Bavaria, Germany, is a corporate investor specializing in defense technology. The company focuses on sensor solutions for protection and surveillance missions, serving military and security organizations globally. Hensoldt's portfolio includes advanced radar, optronics, and avionics systems, which are critical components in defense electronics. Notable transactions include the acquisition of ESG Elektroniksystem- und Logistik-GmbH for EUR 675 million, aimed at enhancing their defense technology capabilities, and the acquisition of Kelvin Hughes, a manufacturer of maritime navigation and surveillance radar systems. These strategic acquisitions demonstrate Hensoldt's commitment to expanding its influence and capabilities within the defense electronics sector, making it a significant player in the industry.


5. eCAPITAL ENTREPRENEURIAL PARTNERS


eCAPITAL ENTREPRENEURIAL PARTNERS is a venture capital firm based in Neunkirchen, North Rhine-Westphalia, Germany, founded in 1999. The firm specializes in investing in technology companies, particularly in sectors such as cleantech, software, and cybersecurity. eCAPITAL provides early to growth stage funding and strategic support to startups, helping them navigate challenges and achieve growth. Notably, eCAPITAL has been involved in several transactions that align with defense electronics interests. For instance, they participated in a funding round for CounterCraft, a company focused on cyber threat defense, which is crucial for national security. Additionally, their investment in Ferroelectric Memory Company, which is developing advanced memory technologies, could have implications for defense applications. Overall, eCAPITAL operates primarily in Germany but is open to investments beyond borders, making them a versatile player in the technology investment landscape.


6. BlueYard Capital

  • Website: blueyard.com
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2016
  • Headcount: 1-10
  • Number of deals in 2024: 9
  • LinkedIn: blueyard-capital

BlueYard Capital is a venture capital firm based in Berlin, Germany, founded in 2016. The firm specializes in early-stage investments across a variety of innovative sectors, including cryptocurrency, biotechnology, and engineering. BlueYard Capital supports entrepreneurs by providing funding and resources to develop groundbreaking technologies that address significant global challenges. Notably, they have invested in Castelion, a defense production company, which raised $14.2 million in a funding round co-led by BlueYard Capital. They also participated in a pre-seed round for Castelion, raising $5.4 million. Furthermore, BlueYard Capital invested in AnySignal, a company specializing in radiofrequency technology, which has secured government contracts, indicating their engagement in the defense electronics sector. Their portfolio reflects a diverse range of projects aimed at creating decentralized solutions and advancing scientific research, while also showing a clear interest in defense-related technologies.


7. Frequentis

  • Website: frequentis.com
  • Type: Corporate
  • Headquarters: Vienna, Vienna, Austria
  • Founded year: 1947
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: frequentis

Frequentis is a corporate investor based in Vienna, Austria, founded in 1947. The company specializes in developing and marketing safety-critical communication and information systems for control centers, catering to sectors such as air traffic management, public safety, and transport. Frequentis has been active in expanding its portfolio through strategic acquisitions, including the purchase of L3Harris' Air Traffic Management voice communication systems product line for $20 million, which enhances their capabilities in air traffic management. Additionally, they acquired Comsoft GmBH to further strengthen their position in the ATM sector. Their investment in Altitude Angel, a drone management platform, also indicates their interest in emerging technologies that could have defense applications. Overall, Frequentis leverages over 75 years of experience in the industry to enhance operational efficiency and safety in critical communication systems.


8. GoBeyond


GoBeyond is a venture capital firm based in Zurich, Switzerland, founded in 2008. It operates as an investment platform that connects investors with early-stage startups, offering services such as individual portfolio investing, access to curated deal flow, and investment training. GoBeyond has been involved in several transactions, notably with Arktis Radiation Detectors, which specializes in radiation detection technology relevant to defense applications. The firm participated in multiple funding rounds for Arktis, including a Series C round in February 2019 and a Series B round in January 2017, where Arktis raised $10 million to enhance its market reach for its radiation detection products. These transactions highlight GoBeyond's engagement in sectors that intersect with defense electronics, making it a noteworthy player in this investment category.


9. Dtcp


DTCP is a Hamburg-based venture capital firm founded in 2015, specializing in Growth Equity and Infrastructure investments. The firm focuses on transformative technology leaders and digital infrastructure to support their growth and accelerate digital transformation. Notably, DTCP has participated in funding rounds for Quantum Systems, a German pioneer in AI-powered drone robotics, which raised significant capital in both Series B and Series C funding rounds. This involvement highlights DTCP's engagement with companies that are at the forefront of technology that can be applied in defense electronics, particularly in the realm of UAVs and robotics. Their investment strategy indicates a broader interest in technology sectors, but their participation in defense-related technology positions them as a relevant player in the defense electronics landscape.


10. Project A

  • Website: project-a.com
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2012
  • Headcount: 51-200
  • Number of deals in 2024: 13
  • LinkedIn: project-a-ventures

Project A is a venture capital firm based in Berlin, Germany, founded in 2012. They specialize in early-stage tech investments and provide operational support for startups. Their services include consulting in technology and growth, access to a network of investors, and pre-seed investment opportunities. In 2023, Project A participated in significant funding rounds for Quantum Systems, a German pioneer in AI-powered drone robotics, contributing to their Series B and Series C rounds, which raised substantial amounts of capital. Additionally, they invested in ARX Robotics, which raised funds in both Seed and Series A rounds. These transactions highlight Project A's engagement with companies that are at the forefront of defense electronics technology, particularly in the realm of robotics and drones.


11. b2venture

  • Website: b2venture.vc
  • Type: Venture Capital
  • Headquarters: St. Gallen, St. Gallen, Switzerland
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 15
  • LinkedIn: btovpartners

b2venture is a venture capital firm based in St. Gallen, Switzerland, founded in 2000. The firm specializes in early-stage investments in innovative startups across various sectors, providing financial backing and support to entrepreneurs. They collaborate with a community of angel investors to enhance their investment strategy, making them a key player in the European venture capital landscape. Notably, b2venture has participated in significant transactions such as Arktis Radiation Detectors, which focuses on radiation detection technology relevant to defense applications, and Regulus Cyber, which is involved in GPS cybersecurity—a critical area for defense electronics. These investments highlight b2venture's engagement in sectors that intersect with defense and security, showcasing their versatility as an investor.


12. Onsight Ventures

  • Website: onsight.vc
  • Type: Venture Capital
  • Headquarters: Innsbruck, Tyrol, Austria
  • Founded year: 2021
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: onsight-ventures

Onsight Ventures is a venture capital firm based in Innsbruck, Austria, founded in 2021. The firm specializes in investments in high-tech startups, providing funding and advisory services to innovative entrepreneurs. Their portfolio reflects a commitment to fostering impactful technologies across various advanced sectors. Notably, they have participated in funding rounds for companies like Quantum Diamonds, which is developing quantum sensors, and Synthara, a semiconductor innovator. These investments suggest a focus on technologies that could intersect with defense electronics, particularly in areas like advanced sensing and computing. However, their overall investment strategy encompasses a wider range of high-tech sectors, indicating a diverse approach rather than a concentrated focus on defense electronics.


13. Alpine Space Ventures


Alpine Space Ventures is a venture capital firm based in Flensburg, Schleswig-Holstein, Germany, specializing in the NewSpace industry. The firm invests in early-stage companies that focus on satellite connectivity and geospatial data technologies. By providing funding and industry expertise, ASV supports startups in scaling their operations and developing innovative solutions in the rapidly growing space sector. Notably, ASV has invested in K2 Space, which has secured contracts with the US Department of Defense, indicating a connection to defense applications. Additionally, ASV has participated in funding rounds for companies like Reflex Aerospace and Morpheus Space, which are involved in satellite and aerospace technologies that could have defense applications. The firm operates primarily in Europe and collaborates with a diverse range of NewSpace companies, positioning itself at the intersection of space technology and potential defense applications.


14. HV Capital

  • Website: hvcapital.com
  • Type: Venture Capital
  • Headquarters: Flensburg, Schleswig-Holstein, Germany
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: hvventures

HV Capital is a venture capital firm based in Flensburg, Schleswig-Holstein, Germany, founded in 2000. The firm specializes in investing in digital companies and supporting entrepreneurs from seed stage to exit, managing over €2.8 billion in assets. HV Capital has been actively involved in various funding rounds, including significant investments in companies like Quantum Systems, which raised $181 million in Series C funding and is recognized for its AI-powered drone robotics technology, crucial for defense applications. Additionally, HV Capital participated in a funding round for NEURA Robotics, which raised over $123 million in Series B funding, focusing on robotics that can also have defense applications. These transactions highlight HV Capital's engagement in sectors that intersect with defense electronics, making it a noteworthy investor in this field.


15. Ohb Se

  • Website: ohb.de
  • Type: Corporate
  • Headquarters: Bremen, Bremen, Germany
  • Founded year: 1981
  • Headcount: 1001-5000
  • LinkedIn: ohb-se

OHB SE is a corporate investor based in Bremen, Germany, founded in 1981. The company specializes in aerospace and technology, particularly in satellite systems and space exploration. OHB SE provides advanced solutions for navigation, earth observation, and military applications, serving both governmental and commercial clients. Notable transactions include the acquisition of RST Raumfahrt Systemtechnik GmbH, enhancing access to radar technologies for reconnaissance, and the acquisition of Kayser-Threde, which is involved in satellite system integration for the German government's EnMap Earth observation satellite. These transactions highlight OHB's strategic focus on defense-related technologies and its commitment to enhancing military capabilities through advanced satellite systems.


16. La Famiglia

  • Website: lafamiglia.vc
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 4
  • LinkedIn: la-famiglia-vc

La Famiglia is a venture capital fund based in Berlin, Germany, founded in 2016. The firm specializes in early-stage and growth-stage investments in technology companies, focusing on disruptive innovations across various industries. La Famiglia supports tech entrepreneurs by providing capital, market access, and strategic partnerships. Among their notable transactions, they participated in a Series B funding round for Helsing, a company developing AI technology for military applications, which raised €209 million. They also invested in Identify3D, a provider of software for digital manufacturing that serves the aerospace and defense sectors, indicating their engagement with companies that have defense applications. These transactions highlight La Famiglia's commitment to supporting technology that can impact the defense electronics industry.


17. Target Partners


Target Partners is a venture capital firm based in Munich, Bavaria, Germany, founded in 1999. The firm specializes in early-stage technology investments, providing capital and strategic support to innovative startups in the tech sector. Notably, Target Partners has invested in Dedrone, a company focused on anti-drone early-warning and detection systems, which raised €2.7 million in seed funding led by Target Partners in 2015. This investment was aimed at developing the DroneTracker system and enhancing airspace security. Additionally, Target Partners participated in a $30.5 million Series C financing round for Dedrone in 2021, further emphasizing their commitment to technologies that contribute to community safety and security. These transactions highlight Target Partners' engagement in sectors that intersect with defense electronics, particularly in the realm of security technology.


18. German Tech Transfer Management GmbH


German Tech Transfer Management GmbH (FTTF) is a venture capital firm based in Munich, Bavaria, Germany, founded in 2018. The firm specializes in providing funding and support to deep tech startups that leverage Fraunhofer technology, focusing on pre-seed and early-stage investments. FTTF aims to help founders develop their business models and secure additional funding through its strong network within the Fraunhofer ecosystem. Notably, FTTF has been involved in transactions such as Quantum Optics Jena, which raised significant funding for developing photonics-based high-security quantum key distribution (QKD) communication systems, a technology that has potential applications in defense electronics. Additionally, they have invested in NODE Robotics and Fusion Bionic, which may also have applications in advanced technology sectors, although these are less directly related to defense electronics.



Defense Electronics Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
Bayern KapitalLandshut, Bavaria, Germany11-50199527
BoschBirenbach, Baden-Württemberg, Germany10001+18865
SiemensMunich, Bavaria, Germany10001+184711
HensoldtTaufkirchen, Bavaria, Germany5001-1000020171
eCAPITAL ENTREPRENEURIAL PARTNERSNeunkirchen, North Rhine-Westphalia, Germany11-5019992
BlueYard CapitalBerlin, Berlin, Germany1-1020169
FrequentisVienna, Vienna, Austria1001-500019471
GoBeyondZurich, Zurich, Switzerland1-1020080
DtcpHamburg, Hamburg, Germany51-20020156
Project ABerlin, Berlin, Germany51-200201213
b2ventureSt. Gallen, St. Gallen, Switzerland11-50200015
Onsight VenturesInnsbruck, Tyrol, Austria1-1020213
Alpine Space VenturesFlensburg, Schleswig-Holstein, Germany1-101
HV CapitalFlensburg, Schleswig-Holstein, Germany11-50200028
Ohb SeBremen, Bremen, Germany1001-500019810
La FamigliaBerlin, Berlin, Germany11-5020164
Target PartnersMunich, Bavaria, Germany11-5019990
German Tech Transfer Management GmbHMunich, Bavaria, Germany1-1020182


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