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Private companiesTracked

Frankenburg Technologies

Tallinn, Estonia · Founded 2024

Frankenburg Technologies builds low-cost guided interceptor missiles designed for mass production. Its first, Mark I, is a short-range missile weighing under 2 kg for shooting down drones, assembled at its factory in Riga.

Profile

What it builds and who buys it

  • ·Mark I is a fire-and-forget missile with a range of under 2 km, a high-subsonic speed, a weight of under 2 kg and a length of 0.65 m. It can be launched from land, from the air and at sea.Frankenburg Technologies
  • ·Mark I targets propeller-driven one-way attack drones flying at 150 to 200 km/h and jet-powered ones at 450 to 600 km/h, including swarms.Frankenburg Technologies
  • ·In December 2025 Mark I intercepted a moving fixed-wing target drone at the Ādaži NATO base in Latvia, 13 months after the missile’s concept, according to the company.Frankenburg Technologies, Dec 12, 2025
  • ·In March 2025 the Latvian Ministry of Defence announced an R&D contract with the company to develop, test and supply Mark I missiles to its forces.Invest in Estonia, Mar 12, 2025
  • ·In March 2026 Airbus’ Bird of Prey interceptor drone engaged a one-way attack drone with a Mark I air-to-air missile in a demonstration in northern Germany. The operational version is to carry up to eight Mark I missiles.Frankenburg Technologies, Mar 30, 2026
  • ·In June 2026 it opened a missile assembly factory in Riga. With a planned final assembly site in Ādaži, it is to reach up to 100 missiles a day by the end of 2026, and the company plans to produce 1,500 missiles in 2026.Frankenburg Technologies, Jun 23, 2026
  • ·In July 2026 the UK Ministry of Defence awarded £3.16 million to Frankenburg Technologies, Cambridge Aerospace and Greenjets to develop low-cost interceptors under a five-nation European programme.UK Ministry of Defence (GOV.UK), Jul 13, 2026
  • ·In July 2026 it selected BAE Systems’ BlackThorn warhead for Mark I and agreed a five-year cooperation with Roxel UK on rocket motors. It plans a UK production site in 2027.Frankenburg Technologies, Jul 24, 2026
  • ·It operates in Estonia, Latvia, Lithuania, Germany, the United Kingdom, Denmark, Poland and Ukraine.Frankenburg Technologies, Feb 24, 2026
  • ·Its first annual report, for 2024, showed a loss of €1.1 million and 31 employees. Taavi Madiberk held 62 percent of the company.ERR, Jul 23, 2025
  • ·Bloomberg reported in June 2026 that the company was seeking €100 million in a Series B, and Resilience Media confirmed the plan with a source at the company. No close is on file.Resilience Media, Jun 22, 2026

Founders and leadership

  • Taavi MadiberkFounder and chairman of the supervisory board

    Founder and chief executive of Skeleton Technologies, a supercapacitor maker, and a board member at the European Innovation Council.Frankenburg Technologies

  • Marko VirkebauCo-founder and board member

    Serial deep-tech entrepreneur.Frankenburg Technologies, Feb 24, 2026

  • Kusti SalmChief executive since September 2024

    Formerly permanent secretary of Estonia’s Ministry of Defence, and a director at the NATO Innovation Fund.Resilience Media, Jan 28, 2026

Funding

Last valuation

$400M

Post-money, Series A, reportedResilience Media, Jan 28, 2026

Last round or tender

Series A

Frankenburg Technologies, Feb 24, 2026

€30 million, not converted to US dollars. Led by Plural and followed by SmartCap, the Estonian state-backed fund; the company said it brought total funding to €40 million. The company stated no valuation. Resilience Media reported in January 2026, from sources, that the company had raised close to $50 million at a valuation of around $400 million, and when the round was announced it tied that report to this round; the figure recorded is that report’s.

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
Feb 24, 2026Series A€30 million, not converted to US dollars. Led by Plural and followed by SmartCap, the Estonian state-backed fund; the company said it brought total funding to €40 million. The company stated no valuation. Resilience Media reported in January 2026, from sources, that the company had raised close to $50 million at a valuation of around $400 million, and when the round was announced it tied that report to this round; the figure recorded is that report’s.—$400Mreported
Mar 12, 2025Seed€4 million, not converted to US dollars. Blossom Capital II and Shellona each put in €2 million. Invest in Estonia, citing Delfi, put the valuation at €150 million, after €55 million in a round a few months earlier; both are in euros only, so none is recorded, and the earlier round’s amount is not on file, so it has no row. The round completed in early March 2025; the date recorded is Invest in Estonia’s.——

Revenue

No citable revenue figure on file.

Secondary venues

  • Caplightpublic page seen Oct 15, 2026

    No price on the public page.

    No public MarketPrice. Historical pricing is behind a login, and the page shows only Caplight’s last-round figures.

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