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Private companiesTracked

Kelluu

Joensuu, Finland · Founded 2018

Kelluu designs, builds and operates autonomous hydrogen-powered airships that fly for more than 12 hours for intelligence, surveillance and reconnaissance. It sells their output as a service to defence, border security, infrastructure and environmental customers.

Profile

What it builds and who buys it

  • ·Five Kelluu airships flying from a single base can cover 30,000 square kilometres, according to the company.Kelluu (company release), Apr 14, 2026
  • ·The airships operate down to -33°C and through sustained GNSS jamming, and the fleet has logged more than 50,000 kilometres of flight.Kelluu (company release), Apr 14, 2026
  • ·Chief executive Janne Hietala told Resilience Media that government customers account for about 80% of revenue.Resilience Media, Apr 14, 2026
  • ·Kelluu joined NATO’s DIANA accelerator in its first full cohort, advanced to Phase 2, and was the first DIANA company to secure the Rapid Adoption Contract framework with a NATO ally.Kelluu (company release), Dec 12, 2025
  • ·In August 2026 it advanced to the final phase of the Defense Innovation Unit’s Project G.I., with operational test events in Alaska.Kelluu (company release), Aug 7, 2026
  • ·Canada’s Defence Investment Agency named its subsidiary Kelluu Canada Ltd. a qualified supplier under the Defence Drone Initiative, an arrangement that runs to the end of July 2031.Kelluu (company release), Sep 7, 2026
  • ·A new factory in Joensuu, due in summer 2027, is to triple manufacturing capacity to one hundred airships a year.Kelluu (company release), Sep 21, 2026

Founders and leadership

  • Janne HietalaCo-founder and chief executive

    Co-founded Kelluu, which began in 2018 with civilian work such as forestry before its defence business grew faster after the war in Ukraine began.Resilience Media, Apr 14, 2026

  • Jiri JormakkaCo-founder and head of sales

    Represents the company in its Arctic trials for the Defense Innovation Unit’s Project G.I.Kelluu (company release), Aug 7, 2026

Funding

Last valuation

No citable valuation

Last round or tender

Series A

Kelluu (company release), Apr 14, 2026

A €15 million Series A, the euro amount as stated and not converted. Led by the NATO Innovation Fund, its first investment in a Finnish company, with Keen Venture Partners, Gungnir Capital and Tesi, the Finnish state-owned investment company. No valuation was stated.

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
Apr 14, 2026Series AA €15 million Series A, the euro amount as stated and not converted. Led by the NATO Innovation Fund, its first investment in a Finnish company, with Keen Venture Partners, Gungnir Capital and Tesi, the Finnish state-owned investment company. No valuation was stated.——

Revenue

No citable revenue figure on file.

Secondary venues

  • Caplightpublic page seen Oct 15, 2026

    No price on the public page.

    No public MarketPrice: the page says no recent secondary market data is available and puts historical pricing 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