Wall Street is betting on Ukraine's drone technology
CBSN
A Ukrainian drone technology startup saw the most explosive U.S. stock market debut in the last year during its first day trading on Nasdaq. Shares in Swarmer, whose software enables single pilots to control hundreds of drones at once, soared over 700% before closing at $31 on Tuesday. In:
A Ukrainian drone technology startup saw the most explosive U.S. stock market debut in the last year during its first day trading on Nasdaq. Shares in Swarmer, whose software enables single pilots to control hundreds of drones at once, soared over 700% before closing at $31 on Tuesday.
The company, based in Austin, Texas, but founded in Ukraine, has been used widely by the Ukrainian military since 2024. Erik Prince, the founder of the U.S. private military contractor Blackwater, joined Swarmer as non-executive chairman last month.
Experts say Swarmer is likely to be the first of many: a Ukrainian defense startup with an American face that leans on U.S. capital to scale production for both the Ukrainian and American militaries.
Ukrainian startups and American investors make a natural pairing. Four years of wartime innovation has made Ukraine a world leader in mass-producing cheap first-person-view (FPV) drones and the technology used in and around them.
In a letter to prospective shareholders, Prince noted that Swarmer's value is rooted in the depth of operational data it has gathered from Ukraine's battlefield.
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