Czech DEPO Ventures backs Ukraine's Zvook in first deal from new $4.25M fund
What's the deal? Czech venture capital firm DEPO VenturesDealroom has a profile for this one. Try Dealroom → has made an early-stage investment of an undisclosed amount in ZvookDealroom has a profile for this one. Try Dealroom →, a Ukrainian defense startup building an AI-powered system that uses passive acoustic sensors to detect aerial targets. The deal marks the first investment from DEPO's new Ukraine Fund.
Why now? DEPO announced the fund on October 2, and co-founder and managing partner Petr Šíma revealed the Zvook deal to Defender Media on October 12. The fund also backs startups from Moldova and Georgia.
What's the endgame? The fund plans to allocate $4.25 million across the three countries, with tickets of up to $559,000 per company. That total could rise to $6.5 million if conditions around private capital and deployed investment are met, according to The Recursive.
The fund was established by National Development InvestmentsDealroom has a profile for this one. Try Dealroom →, a subsidiary of the Czech National Development BankDealroom has a profile for this one. Try Dealroom →, together with the Czech Ministry of Industry and TradeDealroom has a profile for this one. Try Dealroom →. Its stated aim is to attract innovative companies from the region while creating skilled jobs and strengthening the Czech innovation ecosystem.
Beyond aerial detection, Zvook is researching hydrophones for passive underwater acoustic monitoring. It cites maritime security, shipping and port monitoring, and the protection of critical underwater infrastructure as potential uses.
The track record: DEPO has backed several companies with Ukrainian founders, including $1.3 million in Masthead DataDealroom has a profile for this one. Try Dealroom → in 2023 and $1.1 million in app-security startup TalsecDealroom has a profile for this one. Try Dealroom → in 2024.
The signal: Amid the war, defense tech has become Ukraine's fastest-growing tech sector, drawing more than $129 million in investment, according to AVentures CapitalDealroom has a profile for this one. Try Dealroom →'s DealBook of Ukraine. The Zvook deal shows foreign funds positioning to tap that momentum while channelling regional talent back into their own ecosystems.
Read more: kyivpost.com
Image credit: Generated with Gemini
