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Private companiesTracked

Donaustahl

Hutthurm, Bavaria · Founded 2020

Donaustahl, incorporated as Donaustahl GmbH, develops and builds UAV platforms, avionics and munitions in Bavaria. Its Maus is a quadcopter loitering munition, supplied to a Ukrainian special forces unit.

Profile

What it builds and who buys it

  • ·The Maus has a range of five to seven kilometers, climbs at 18 to 22 meters per second and carries up to 2.7 kg.Defence Network, Oct 4, 2024
  • ·In October 2024 Donaustahl delivered Maus loitering munitions, airburst mines and grenades to the KRAKEN special regiment of Ukraine’s military intelligence service.Defence Network, Oct 4, 2024
  • ·In April 2025 Donaustahl began selling a bond to retail investors, issued as a crypto security through Ecrop’s tacct app, for up to €8 million at 5.9% to 8.4% interest depending on revenue growth.Börsen-Zeitung, Apr 8, 2025
  • ·Donaustahl said in December 2025 that its revenue had tripled, which raised the bond’s interest to 8.4%.Defence Network, Dec 10, 2025
  • ·The company uses no Chinese or US components in its drones and relies on manufacturing alliances of German mid-sized firms.Börsen-Zeitung, Apr 8, 2025
  • ·Horst Rieder, the longtime chief financial officer of the KNDS group, became Donaustahl’s chief financial officer from November 2025.Börsen-Zeitung, Oct 29, 2025
  • ·Its D-RAMP concept is a scalable ammunition plant with a second production line that can run manually and without electricity.Börsen-Zeitung, Aug 24, 2026

Founders and leadership

  • Stefan ThumannFounder and managing director

    Founded Donaustahl near Passau with a focus on ammunition for sport shooters, and turned it to drones that carry guided munitions after Russia’s full-scale invasion of Ukraine.Börsen-Zeitung, Apr 8, 2025

Funding

Last valuation

No citable valuation

Last round or tender

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Latest revenue figure

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Valuation to revenue

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Post-money valuation by round

Fewer than two dated figures on file to plot; the table carries what there is.

DateRoundRaisedPost-money

Revenue

No citable revenue figure on file.

Secondary venues

  • Caplightpublic page seen Oct 15, 2026

    No price on the public page.

    Listed as Donaustahl GmbH. No public MarketPrice. Historical pricing is behind a login.

A venue is listed when its public page named the company on the date shown. A price is the figure that page showed, under the venue’s own name for it and dated as the venue dated it; it is a level the venue publishes, not a trade. Nothing is recorded from behind a login.

Reads

Tracked only. No read has been prepared for this company; the figures above are the record.

Sources

Researched Oct 15, 2026