A new defense company has been established by Ukrainian-American investment group MITS Capital, marking a significant step in the collaboration between Denmark and Ukraine. The firm, named MITS Industries, has consolidated several renowned Ukrainian drone and defense technology manufacturers, including Tencore, Infozahyst, Unwave, and an undisclosed air drone manufacturer, into a single platform. MITS Capital will play a key role in coordinating operations, acting as a catalyst for innovation, and providing the necessary investment.
Perry Boyle, who serves as the CEO and Founding Partner of MITS Capital, emphasized the strategic partnership with Denmark, stating that the two nations share not only historical ties but also mutual values and a common adversary. He expressed confidence that the combination of Danish technological expertise and investment with Ukraine’s rich defense industrial base will significantly bolster European defense capabilities against Russian aggression.
MITS Industries is aiming for impressive growth, forecasting revenues exceeding $200 million by 2026. The company plans to implement a “drone-as-a-service” model, which will facilitate large-scale production of advanced drone systems and counter-drone technologies across various domains, including air, land, and maritime. This approach is designed to enhance export opportunities and create better access to institutional investors.
The Ukrainian government anticipates that the defense industry capacity will surpass $35 billion by 2025, with the private sector already exceeding domestic demand and enhancing its export readiness. As Ukraine continues to arm its forces with essential capabilities, MITS Capital’s Chief Investment Officer and Founding Partner, Denys Gurak, remarked that the establishment of MITS Industries is merely a starting point. He stated their commitment to scaling operations and increasing revenue to position MITS Industries among leading European defense companies.
Gurak reaffirmed their primary goal: to assist Ukraine in winning its current conflict and to help Europe protect itself against future threats. The joint venture signifies a strategic move to reinforce Ukraine’s defense capabilities while tapping into Denmark’s robust technological resources.
