Estonian company Frankenburg Technologies raises €4M
Summary
Estonian startup Frankenburg Technologies has received 4M in funding to develop anti-aircraft missiles. The investment came from two companies, Guernsey-registered fund Blossom Capital II LP and Cayman Islands-based Shellona Ltd., each invested 2M to the startup.Founded in Tallinn in 2024 by Taavi Madiberk, Frankenburg Technologies develops and produces innovative and mass-ready air defense systems, including missiles. The company designs small-size missiles and manufactures them using rapid prototyping and adaptive printing methods. Frankenburg Technologies missiles are designed to combat drones and can shoot down targets at altitudes of up to 2 km.Frankenburg Technologies board members are Taavi Madiberk, Marko Virkebau, and major general Veiko-Vello Palm. Frankenburg Technologies currently has operations in Ukraine, Latvia, Lithuania, and Estonia.In November 2024, the company raised 1.5M from Shellona.