Ukrainian drone software startup Swarmer plans US IPO

Swarmer, a Ukrainian deftech startup that develops software for drones, has informed the US Securities and Exchange Commission (SEC) of its intention to conduct an initial public offering (IPO) on the Nasdaq stock exchange, according to filings on the SEC website.

The company does not manufacture drones itself but develops software that enables a single operator to control dozens—or even hundreds—of unmanned systems simultaneously, effectively creating a "swarm."

Swarmer claims that its technology can integrate with drones from any manufacturer.

The company notes that its software has been tested in real combat conditions in Ukraine, where it has been used to conduct more than 100,000 combat missions. Its technology operates daily in one of the world’s most intense electronic warfare and signal-jamming environments.

Founded in 2023 by Sergiy Kuprienko and Alex Fink, Swarmer has offices in Austin, Texas; Kyiv, Ukraine; and Warsaw, Poland.

The non-executive chairman of Swarmer’s board of directors is Eric Prince, founder of the private military company Blackwater.

Swarmer has not yet reached profitability; in 2025, it reported losses of $8.5 million on revenues of $310,000.