The world’s leading defense corporations have invested a record $4.1 billion in venture rounds of military startups since the beginning of 2026. This was reported on July 26 by Financial Times, citing Dealroom data.
The total value of defense deals worldwide — including mergers, acquisitions, and investments — has already exceeded $40 billion this year. This is the second-highest figure in history, after $59 billion in 2019.
Lockheed Martin, the world’s largest arms manufacturer by sales, announced its intention to invest at least $100 million in British and European defense technology startups.
BAE Systems allocated €50 million to two venture funds — €25 million each to Klaus Hommels’ Lakestar and Warsaw-based Expeditions. This is the second phase of the company’s corporate Launchpad program.
Both funds recorded closes: Lakestar raised its defense fund Resilience I at $300 million, while Expeditions closed Fund II at €197 million — twice its original target.
Among Expeditions’ portfolio companies is Ukrainian defense startup UForce, which in spring 2026 closed a $50 million round at a valuation of over $1 billion.
Lakestar founder Klaus Hommels attributes the fund’s interest in the sector to Ukraine’s combat experience, describing the Ukrainian way of warfare as faster, cheaper, and more adaptive than traditional approaches.
