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Ukrainian Defense Startup Falcons Secures Funding from U.S. based Green Flag Ventures

Kyiv, Ukraine – September September, 2025 – Ukrainian defense technology company Falcons secures funding from the U.S.-based Green Flag Ventures to scale production of its combat-proven Radio Frequency (RF) direction finding system and advance it toward NATO certification.

Founded in 2022 in response to Russia’s full-scale invasion, Falcons builds cost-effective solutions for GPS-denied environments. Its direction-finding systems help detect enemy devices emitting radio signals at specific frequencies, including hostile drones, communication equipment, relays, and enemy electronic warfare assets. Falcons’ flagship product, ETER (Direction Finder Set), has already demonstrated battlefield success, contributing to the confirmed destruction of around a $90 million Russian system.

Falcons CEO and Co-founder Yehor Dudinov, an active-duty military serviceman with a background in strategic planning and product management, emphasizes the implications of this investment:

“This investment is proof that Ukrainian combat experience creates technologies with global relevance. Our next step is to scale ETER’s production, align with NATO standards, and deliver capabilities allies can trust. Backed by Green Flag Ventures, we can move faster from battlefield lessons to systems that strengthen the Alliance’s electronic warfare resilience. We’ll use part of the investment to gain market insights, plan production, and deliver operational solutions, helping Ukrainian tech enter global markets faster and stronger when exports are officially open to allied partners.”

The funding will support:
• NATO standardization and scaling of ETER.
• Team growth: with engineers and frontline practitioners.
• Export readiness: building a NATO market-entry strategy.

Green Flag Ventures, co-founded by Justin Zeefe and Deborah Fairlamb, focuses on dual-use technology startups with both defense and civilian applications and has been actively investing in Ukraine’s defense innovation sector.

“Falcons is a shining example of Ukraine’s defense innovation ecosystem,” said Deborah Fairlamb, Co-founder of Green Flag Ventures. “The company has proven its ability to design, deploy, and refine battlefield technology, shaping the future of electronic warfare defense for Ukraine and its allies.”

Falcons’ ETER system stands out for its GPS-free design, compact form factor, and 30–50x cost advantage over comparable NATO systems, with operational coverage exceeding 600 km.

Dr. William “Dollar” Young, former senior U.S. military leader and expert in electronic warfare, added: “Falcons proves that by combining engineering, operational insights, and field experimentation, cross-functional teams can deliver electronic warfare capability at the speed of modern conflict. Helping Ukraine accelerate its own weapon and EW development is key to gaining an enduring advantage over Russia. This isn’t just a Ukrainian asset – it’s a recipe for strategic advantage for the entire Alliance.”

With Green Flag Ventures’ support, Falcons aims to accelerate the delivery of cost-effective, scalable systems tested in one of the world’s toughest combat environments, and preparing to equip NATO and allied nations with trusted capabilities at speed in the future.

Previously, the company had already received grants from the Brave1 defense technology support cluster three years in a row – in 2023, 2024, and 2025 – as well as angel investment. In 2023 the company took third place in the separate nomination “Best Defense STARTUP 2023” at the Startup Competition during the annual conference of innovations IT Arena.