2021-2022 was the breakout year for European defense tech as a distinct industry, moving from prime contractor-dominated innovation to venture-backed startups, with ~€200M invested across E…

Blackwall's anti-bot cybersecurity product addresses a universal problem (bots >50% of web traffic) with 2x annual growth and excellent unit economics, representing a dual-use defense/comme…

Blackwall addresses the massive bot traffic problem (over 50% of internet traffic) with a product showing four years of consistent 2x growth and excellent unit economics, yet remains largel…

Expedition's Fund I backed both the quantum networking leader (New Quantum, led seed) and quantum computing leader (Horizon Quantum, now public at $1B+ valuation), validating quantum as a s…

Expedition's research with 50+ stakeholders identified over 10 critical capability gaps including space ISR, data fusion platforms (European Palantir alternative), and deep strike capabilit…

Research with 50+ stakeholders identified space-based intelligence, surveillance, reconnaissance (ISR) and sovereign data fusion platforms (European Palantir alternative) as top-10 critical…

First wave focused on big platforms (air defense, drones, loitering munitions) informed by Ukraine; second wave targets enabling infrastructure — sensors, software, communications, advanced…

Ukraine's success in projecting power into enemy territory (deep strike) and the shift toward autonomous warfare where time is the critical dimension drive investment in drones, loitering m…

Expedition's edge comes from intensive outbound networking in talent-dense communities, building relationships with leaders, and maintaining a deep bench of active servicemen and special fo…

Scaling defense tech across Europe is uniquely difficult due to fragmented procurement rules, armament agencies, and domestic champion preferences; Expedition builds dedicated teams with mi…

Each major European country (Germany with Helsing/Stark/Quantum Systems, UK with Cambridge Aerospace) wants its own 'novel prime' contractor, driving domestication of capabilities. This fra…

Ukrainian war financing enables rapid iteration with fewer restrictions (Chinese components, daily innovation), while European defense financing requires compliance with sovereignty, certif…