# Gardar Venture Capital

> Gardar Venture Capital is a VC fund backing Laser, Drones and Military. See 2 investments, round sizes, portfolio. Updated Oct 2026.

- Type: VC Fund
- Total investments: 2
- Last investment: Oct 2026
- Lead investor: 0%
- Last updated: Oct 2026
- LinkedIn: https://www.linkedin.com/company/gardar-venture-capital/
- Website: https://gardar.vc

Gardar Venture Capital is a VC fund focused on Laser and Drones. Gardar is a Norwegian venture capital fund that backs early-stage Ukrainian defense technology companies from seed through Series B. Gardar operates on the venture platform of Sandwater.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Laser | 1 | 50% |
| Drones | 1 | 50% |
| Military | 1 | 50% |
| Geospatial | 1 | 50% |
| Embedded Systems | 1 | 50% |

8 industries tracked in total.

## Investments

| Company | Description | Round size | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Buntar Aerospace | Buntar Aerospace is an aerospace manufacturing company. It provides navigation systems with artificial intelligence modules,drones, and custom software. | $16M | Venture - Series Unknown | Oct 05, 2026 | https://buntaraerospace.com |
| M-FLY | M-FLY is a company that develops ITAR-free gimbals tailored for the drone industry, integrating electro-optical cameras, infrared imagers, and various sensor payloads to enhance performance in diverse applications. The gimbals are designed for use in both military and civilian sectors, providing stability and precision for aerial imaging and datacollection. M-FLY focuses on research and development to incorporate emerging technologies, ensuring that their products meet the evolving needs of the market. The company aims to support users in achieving accurate geolocation and range finding, facilitating various operations in surveillance, mapping, and environmental monitoring. | $4.4M | Seed | Sep 30, 2026 | https://m-fly.org |

2 of 2 investments shown.

## Co-investors
- [Freedom Fund VC](https://shizune.co/investors/profile/freedom-fund-vc) — VC Fund, 2 deals together
- [MITS Capital](https://shizune.co/investors/profile/mits-capital) — VC Fund, 2 deals together
- [Autonomy Capital](https://shizune.co/investors/profile/autonomy-capital) — VC Fund, 1 deal together
- [Iron Wolf Capital](https://shizune.co/investors/profile/iron-wolf-capital) — VC Fund, 1 deal together

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### Similar stage
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### Similar country
- [Ukrainian Startup Fund](https://shizune.co/investors/profile/ukrainian-startup-fund) — VC Fund
- [SMRK VC Fund](https://shizune.co/investors/profile/smrk-vc-fund) — VC Fund
- [TA Ventures](https://shizune.co/investors/profile/ta-venture) — VC Fund

## Featured in investor lists
- [Marketplace VC Funds in Ukraine](https://shizune.co/investors/marketplace-vc-funds-ukraine)

## FAQ

### What does Gardar Venture Capital invest in?

Gardar Venture Capital invests primarily in Laser, Drones and Military startups, most often at Seed stage. Most of the 2 investments tracked by Shizune back companies in Estonia. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Gardar Venture Capital last invest?

The most recent investment recorded for Gardar Venture Capital closed in Oct 2026. Shizune tracks 2 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Oct 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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