Wiseboard Defense: how to raise $30 million for Ukrainian MilTech companies

Wiseboard Defense: How Ukrainian MilTech Companies Are Preparing to Raise Millions in Investment

Kyiv, 2026. Wiseboard, a business advisor search service for IT companies, has launched a new direction — Wiseboard Defense. This move is driven by the growing need of Ukrainian defense companies for capital and the opening of controlled weapons exports, which creates favorable conditions for attracting foreign investment. Wiseboard Defense co-founder Artur Fedorenko talks about preparing Ukrainian DefTech startups to work with investors and the key challenges along the way.

Wiseboard Defense is already actively working with defense manufacturers, helping them gain access to significant amounts of funding. The company specializes in preparing Ukrainian defense technology companies to raise foreign capital, focusing on rounds from $5 million to more than $100 million.

Preparing for investment: from idea to round

“The main blocker for defense companies today is capital. There are plenty of orders, but not enough working capital for everything,” Artur Fedorenko explains. If grants or checks from Ukrainian funds cover hundreds of thousands of dollars, companies that have reached the series stage need $5 million, $10 million, or even $50 million. These are the kinds of investments foreign funds, family offices, and strategic investors are ready to provide.

Wiseboard Defense helps companies move from first contact to a deal, including:

• Product and team assessment: The presence of the product in units, feedback from military personnel, contracts, or letters of intent is analyzed.
• Company structuring: A mandatory condition for attracting foreign investment is having a holding company in the EU, the UK, or the US.
• Intellectual property (IP) ownership: IP must be registered to the company, not to individuals.
• Component screening: The use of Chinese components in critical systems can become a barrier for investors.
• Preparing the financial model and data room: These are key elements for due diligence.

At present, Wiseboard Defense is working with around 30 companies, actively collaborating with half of them. The stated rounds total more than $200 million.

Key challenges and successful cases

Artur Fedorenko notes that the investment process can take longer than expected because some companies are not sufficiently prepared. “Some don’t have a data room assembled, some lack a financial model, and some are not structured abroad,” he says.

One successful example of collaboration is the investment raised in Bullet. The total deal amount is about $6 million, of which $1 million has already been invested, while the rest is the investor’s commitment contingent on fulfilling the roadmap. These funds will be directed toward fulfilling pre-orders, scaling production, entering new markets, obtaining export licenses, and participating in international tenders.

Wiseboard Defense operates on a success fee model, meaning payment is made only after a successful deal closes. “We are not a fund and we do not provide money from our side. Neither party needs an extra consultant in the company ownership structure,” Fedorenko emphasizes.

Expanding horizons: from exports to localization

In addition to helping Ukrainian companies raise investment, Wiseboard Defense also supports foreign defense companies entering the Ukrainian market. This includes investing in Ukrainian companies, testing their own developments in combat conditions, and localizing production.

“For a foreigner, the Ukrainian defense market is closed: they don’t know who to approach, and they won’t get in on their own,” Fedorenko notes. Wiseboard Defense provides companies with “three entry points” into this market, helping them overcome bureaucratic and operational barriers.

As a result, Wiseboard Defense is becoming a key partner for Ukrainian MilTech companies, helping them not only secure the necessary funding but also reach a new level of development and become full-fledged players in the global defense market.

Key entities: Wiseboard Defense, Artur Fedorenko, Wiseboard, Bullet, NEXORA, State Export Control, NATO.