Estonian SmartCap Defence Fund invests in Ukrainian-Estonian Farsight Vision
Estonian SmartCap Defence Fund has invested in Ukrainian-Estonian defense technology company Farsight Vision. Other participants in the €7.2M seed round included the US corporation Axon Enterprise, Poland’s Radix Ventures, Switzerland’s Anker Capital AG, Ukrainian Resist.UA, and Denmark’s Final Frontier. Estonia-based Darkstar, one of Farsight Vision’s earliest investors, made a follow-on investment.
Founded in Ukraine in 2023, Farsight Vision develops technology designed to meet the practical needs of the front lines in Ukraine. Using drones and artificial intelligence, it creates a real-time overview of the battlefield for rapid maneuver planning. This software is widely used in Ukraine and has great potential for strengthening NATO's defense capabilities. The founders of Farsight Vision are Viktoriia Yaremchuk (CEO) and Volodymyr Nepiuk (CTO).
With the funds raised, the company plans to expand its sales and product development departments in Estonia in order to enter export markets. Farsight Vision sees Estonia as a key center for the development of high-tech solutions, defense capabilities, and international cooperation.
SmartCap was established in Tallinn in 2021 as a subsidiary of the Estonian Business and Innovation Agency. SmartCap manages two common closed-end alternative investment funds: SmartCap Venture Capital Fund and SmartCap Green Fund. The CEO of SmartCap is Sille Pettai.
Axon Enterprise is a US corporation headquartered in Scottsdale, Arizona. The company develops hardware and software technology solutions for police and special forces. Its core products include tasers, bodycams, and software for public safety management.
Radix Ventures is a Polish venture capital fund specializing in supporting radical innovations in deep tech in Central and Eastern Europe (CEE).
Anker Capital AG is a Swiss investment management company. The company offers investment management services using a proprietary approach based on business analysis, value investing, and behavioral economics.
Resist.UA is a direct investment fund in Ukraine's military-tech sector, founded in 2022. It brings together Ukrainian entrepreneurs, veterans, and investors to develop the defense industry and technological independence of the state.
Final Frontier is a Danish venture capital firm that invests in companies developing key space and defense technologies for a strategically independent Europe.
