Orqa Raises €12.7 Million in Series A Funding
Orqa, a Croatian company known for developing first-person view (FPV) drones and unmanned aerial systems, has successfully raised €12.7 million in a Series A funding round. The round was led by Expeditions Ventures, with participation from Lightspeed Venture Partners, Taiwania Capital, Aymo, and Radius Capital.
Company Background and Growth Plans
Founded in 2018 by Srdjan Kovacevic, Orqa specializes in designing and manufacturing a wide range of drone components, including flight controllers, radios, motors, cameras, and printed circuit boards. The company focuses on maintaining supply chain sovereignty by avoiding Chinese-made components. Orqa's production facility in Croatia is capable of manufacturing up to 280,000 National Defense Authorization Act (NDAA)-compliant drones annually.
Strategic Use of Funds
The fresh capital will be utilized to scale Orqa's manufacturing capacity through its Global Manufacturing Partnership Program. This initiative aims to expand production to over one million drones per year by establishing a network of international manufacturing partners. These partnerships are being formed in regions including North America, Europe, the Middle East, and the Indo-Pacific.
International Expansion and Defence Sector Involvement
Orqa has been gaining traction within the Western defence ecosystem, having supplied drones to the Ukrainian Armed Forces. The company has also collaborated with Ukrainian drone pilots and produced a limited-edition version of its FPV.One goggles in support of local initiatives. The Series A funding will support further expansion and allow Orqa to explore potential acquisitions to enhance its aerial robotics platform.
Leadership and Vision
CEO Srdjan Kovacevic remains at the helm, guiding the company's strategic direction. Speaking about the funding, Kovacevic emphasized the importance of scaling production and enhancing international partnerships to meet growing demand in both defence and commercial markets.
This Series A round marks a significant milestone for Orqa as it continues to expand its footprint and capabilities in the global drone manufacturing industry.