Key facts
- Former Ukrainian Defense Minister Mykhailo Fedorov is launching a new defense technology firm.
- Palantir CEO Alex Karp is the top investor in the new venture.
- The company will focus on developing technologies to strengthen Ukraine and serve global allies.
- Fedorov aims to leverage his experience from the full-scale war in Ukraine.
- Fedorov is also seeking U.S. investment for a defense technology fund.
Mykhailo Fedorov, who previously served as Ukraine's Minister of Defense, announced on September 1st his intention to establish a new defense technology company. Palantir CEO Alex Karp has committed to being the top investor in this new venture. Fedorov stated that Ukraine will be the company's primary focus, aiming to utilize the unique experience gained in defense technology during the full-scale war to develop advanced weaponry. He expressed a desire to build technologies that will bolster Ukraine's security, assist allies, and contribute to global safety. Fedorov and Karp met on August 31st to discuss the company's strategic direction and its potential to define future defense technologies. In addition to the new firm, Fedorov is pursuing U.S. investment for a defense technology fund and has indicated a willingness to assist Ukraine in developing drone capabilities in exchange for Patriot missile interceptors.