Finnish defense technology group Sensofusion plans to raise around 300 million euros ($343.5 million) in a Helsinki public listing, as it looks to seize on investor enthusiasm for drone companies.
Three pension insurance companies and a fund management group have committed 170 million euros to anchor the initial public offering, implying a pre-money valuation of up to 1.3 billion euros, the company said Wednesday. Danske Bank's Finnish branch was appointed bookrunner for the listing.
The IPO will raise Sensofusion's profile, the company said. Proceeds will be used to develop the group's technology, and to expand production and testing into different markets, it added.
The planned offering comes amid heightened investor interest in drone technology, with unmanned aerial vehicles dominating wars in Ukraine and the Middle East. German drone maker Quantum Systems and Dutch-headquartered group Destinus are among European drone companies reportedly considering IPOs.
Sensofusion develops and sells anti-drone software, including drone detection and counter-drone technology. The Vantaa-based group has won a contract with the U.S. Marine Corps, and its technology is used in both Ukraine and the Middle East, the company said.
The group's anti-drone software is also pitched as a tool for the protection of high-ranking officials, as well as for use by armies engaged in conflicts.
Group revenue more than doubled on year to 25.97 million euros in the first six months of 2026, according to unaudited results. Operating profits for the period were 13.656 million euros.
Nearly 90% of the group's revenue came from Europe, the Middle East and Africa in 2025, with 9.1% originating in North America, the group said. Revenue isn't dependent on ongoing conflicts, with only 7% of 2025 revenue generated from Ukraine, it said.
The group raised 45 million euros through a Series B funding round in January of this year, according to private markets data platform Dealroom.
Founder and chief executive Tuomas Rasila said he would continue to lead the company, but added the listing would allow the company "to outgrow its founder."