Swedish-Finnish Monava raises funding for AI drone detection

Monava, a Swedish-Finnish defense technology company, announced today that it has completed a new investment round led by Gungnir Capital, with participation from Foundry Ventures and Hede Capital. The company plans to use the funding to commercialize its technology and expand operations to meet increasing demand from defense customers.

Monava's core technology is an AI-powered acoustic detection system that identifies drones by analyzing sound rather than traditional radar or radio frequency signals. Because the sensors are fully passive—emitting no signals of their own—they cannot be detected or jammed, an advantage in contested environments. According to the company, the technology is capable of detecting, tracking, and classifying drones and is already deployed across the Nordic region and in Ukraine, where it has been tested and validated through cooperation with armed forces.

The investment announcement arrives at a moment of acute strategic focus on counter-drone capabilities. Max Villman, Managing Partner of Gungnir Capital and the lead investor, framed the urgency bluntly: "Today, drones account for roughly 70 percent of all casualties in the war in Ukraine, and we must develop the means to counter that threat." Villman, a former Swedish Air Force JAS 39 Gripen fighter pilot, will join Monava's board as part of the investment. CEO Alexander Hebbe stated that "the drone threat is evolving faster than most defence systems can keep up with" and that the company is experiencing a sharp increase in demand, with enquiries for sensors exceeding expectations daily. The company's growing order book prompted the capital raise to scale production and expand its organization.

Monava's funding exemplifies a sustained trend in defense venture capital. Military organizations, critical infrastructure operators, airports, and public safety agencies are increasingly adopting layered counter-drone systems that combine multiple sensor types. Passive acoustic sensing has emerged as one component in this broader ecosystem, complementing radar, radio frequency, electro-optical, and infrared systems. As drone use expands in both military and civilian environments, investor activity suggests that technologies supporting detection and situational awareness remain a high-priority growth area within the counter-UAS market.