A €20m fund is now backing European founders building autonomous defence systems across air, land and sea.
I spoke with Louise Boucher, Founder and Managing Partner at Sisyphus Ventures, about how startups are securing government contracts within their first 12 to 18 months and why she sees the opportunity to build multi-billion-euro defence companies in Europe over the coming years.
The Scaling Europe show is presented by Deel - check them out here:
https://get.deel.com/ruynb7o4lfjk
Sponsors:
SurrealDB: The multi-model database for AI agents. Check them out here: https://surrealdb.com/
Omni: The AI analytics platform trusted by fast-growing companies like Perplexity, Synthesia, and dbt Labs. Check them out here: https://omni.co/
Venture Comet: The platform that gives startups and scale-ups real-time equity tracking, daily business insights and automated management information. Check them out here: https://venturecomet.com/
Timestamps:
0:00 - Introduction to Scaling Europe show
0:25 - Overview of Sisyphus Venture fund
1:01 - Importance of technological warfare
2:01 - Notable investments in defense sector
6:00 - Reluctance to invest in aggressive defense
7:14 - Focus on military use for startups
9:02 - Changing perceptions on defense investments
10:01 - Market heating signals in defense tech
11:46 - Geographical hubs in European defense
12:40 - Importance of diverse founder backgrounds
14:22 - Balancing urgency and independence in defense
16:12 - Investing locally versus buying US tech
17:24 - Need for more capital in defense
18:03 - Upcoming IPOs in the defense sector
19:00 - Financing R&D through government contracts
21:00 - Strengths and weaknesses of European defense