Ukrainian defense technology company Falcons has raised investment from American venture capital fund Green Flag Ventures to scale production of a direction finding system and other products, obtain NATO certification, and continue to offer products to allies.
Ukrainian defense technology company Falcons has raised investment from American venture capital fund Green Flag Ventures to scale production of a direction finding system and other products, obtain NATO certification, and continue to offer products to allies.
Falcons , founded in 2022 in response to a full-scale Russian invasion, specializes in creating affordable solutions that work in environments without a GPS signal. The direction finding system helps detect enemy devices that emit radio signals at a specific frequency: enemy drones, communications equipment, repeaters and enemy electronic warfare equipment. The company's flagship product, the ETER tactical-level direction finder complex, has already proven successful on the battlefield: in particular, the destruction of a Russian system worth about $90 million has been confirmed.
The funding received, the exact amount of which is not disclosed, will be aimed at solving three key tasks:
“This investment proves that Ukrainian combat experience creates technologies for global application. Our next step is to scale up the production of ETER, align it with NATO standards, and provide allies with effective solutions they can trust. Thanks to the support of Green Flag Ventures, we will be able to use the experience gained on the battlefield to create more effective electronic warfare technologies that will increase the resilience of the alliance. We plan to direct part of the investment to market research, production planning, and the creation of ready-made solutions so that Ukrainian technologies enter global markets faster and with a stronger position when exports are officially opened,” said Yegor Dudinov, CEO and co-founder of Falcons, a serving military officer with experience in strategic planning and product management.
Green Flag Ventures , founded by Justin Ziff and Deborah Fairlamb, works with startups in the niche of dual-use technologies (defense and civilian) and actively invests in Ukraine's defense innovation sector.
“Falcons is a shining example of Ukraine’s defense innovation ecosystem,” said Deborah Fairlamb, co-founder of Green Flag Ventures. “The company has demonstrated an exceptional ability to develop, deploy, and refine technologies for battlefield use, shaping the future of electronic defense for Ukraine and its allies.”
The ETER direction finder complex is distinguished by its independence from GPS, compactness, and price advantage — it is 30–50 times cheaper than similar NATO solutions. In combat conditions, it has demonstrated a range of over 600 km, combining accuracy and adaptability.
“Falcons proves that by combining engineering expertise, operational experience and field testing, cross-functional teams can build electronic warfare capabilities at the speed dictated by modern conflict,” says Dr. William “Dollar” Young, a former senior military officer and electronic warfare expert. “Helping Ukraine develop its own weapons is key to gaining an advantage over Russia and stopping its aggression. This is not just a Ukrainian asset — it is a strategic advantage for the entire Alliance.”
Backed by Green Flag Ventures, Falcons aims to accelerate the delivery of scalable and affordable systems, proven in one of the world's most challenging combat environments, to provide NATO and allied countries with future-proof solutions.
