💻 Technology Jun 12, 2026 · David Cendon Garcia

Ukraine-focused DefenceTech fund Varangians closes €10 million in Stockholm

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Stockholm-based Varangians, a new DefenceTech-focused investment fund co-founded by Beetroot founder Andreas Flodström, has closed at over €10 million (100 million kronor) to back Ukraine’s DefenceTech ecosystem.
The fund has already completed investments in Ukrainian DefenceTech companies including Norda Dynamics, Himera and Sine Engineering, while a fourth portfolio company remains confidential.
Varangians Co-founders Pär Lager, Andreas Flodström and Jonas Rydin said: “We founded Varangians be

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