Dutch unmanned aerial systems company Destinus is set to acquire Zurich-based Daedalean, a maker of AI-powered autopilot systems, in a deal worth 180 million Swiss francs ($222.6 million).
The deal, expected to be signed by the end of 2025, will expand Destinus’ AI capabilities for kamikaze drones and hypersonic aircraft, Bloomberg reported.
Launched in 2021, Destinus has raised more than 200 million euros ($231.5 million) in funding to date and is now in talks with investors for a new funding round that could push its value up to 1.5 billion euros ($1.7 billion).
The Dutch firm reportedly brings in about 75 million euros ($87.6 million) a year before interest, taxes, depreciation, and amortization.
Destinus CEO and Founder Mikhail Kokorich did not weigh in on the valuation talk but confirmed the deal’s direction. In an email to Bloomberg, he said Daedalean’s tech would allow Destinus to build drones that don’t rely on satellite signals — a critical edge in electronic warfare environments.
‘Logical’ Move
Daedalean, established in 2016, builds smart software that helps aircraft see where they’re going, spotting obstacles and mapping the terrain without needing GPS.
The firm originally set out to power vertical takeoff and landing electric air taxis, but as that market hit turbulence, it pivoted to defense. In 2024, it began testing its tech with Italian defense giant Leonardo.
Destinus and Daedalean have worked together before and now plan to use their experiences to develop navigation tech for both military drones and civilian aircraft.
“It just became clear to everyone involved that officially joining forces was the logical next step,” said Kokorich.
Daedalean has raised $100 million from backers, including Honeywell Ventures, the investment arm of Honeywell International.
As for Kokorich, he renounced his Russian citizenship in 2024 in protest of the war in Ukraine and President Vladimir Putin’s policies.
