Estonian technology company Lendurai raises €5.57M

Tallinn-based Lendurai, a dual-use technology startup, has raised €5.57M. The round was organized by the Expeditions Fund with the participation of HCVC and Vsquared Ventures.

Lendurai was founded by Sam Michael, Mark Owen and Sergey Kharagorgiev in Estonia in 2024. The company develops on-board systems for navigation of unmanned aerial vehicles (UAVs) without the use of GPS. The technology is based on artificial intelligence and autonomy to support UAV operations. The systems are designed to perform mission-related tasks at minimal cost. Lendurai will use the received investments to further develop and improve its autonomous UAV solutions.

Expeditions Fund is an investment company founded in 2021 in Poland. With offices in Warsaw, London and Paris, the fund invests in high-tech and dual-use companies working in the fields of defense, autonomy, artificial intelligence, quantum technologies, privacy, communications, space and cybersecurity. Founders: Mikolaj Firlej and Stanislaw Kastory.

HCVC is a venture capital company that supports aspiring entrepreneurs working on the development of science and technology. The company was founded in 2015 in France. The founder of the company is Alexis Houssou.

Vsquared Ventures is a venture capital firm that supports entrepreneurs developing technologies in areas such as space, computing, the transition to renewable energy, robotics, sensors, artificial intelligence, software, and biotechnology. Vsquared Ventures was founded in 2020 by Thomas Oel, Herbert Manguesius and Benedikt von Scholer.

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