Swarmer’s Impressive IPO Debut
Shares of AI drone company Swarmer soared 520% in their first day of trading on the Nasdaq, raising about $15 million from selling 3 million shares at $5 apiece and boosting its market cap from $60 million to more than $382 million by Tuesday’s close, according to Crunchbase News. This debut occurs amid ongoing conflicts like the U.S.’ war in Iran and the Russia-Ukraine war entering its fifth year, highlighting increased interest in defense tech. Venture investment in defense tech startups, defined as companies in military, national security, and law enforcement sectors, reached an all-time high of $8.4 billion last year, more than double the 2024 total, per Crunchbase data.
Recent Funding in Defense Tech Startups
Among the top venture-funded defense companies in 2025, Anduril Industries raised a $2.5 billion Series G led by Founders Fund, while Helsing secured about $693 million in a round led by General Catalyst, Accel, Lightspeed Venture Partners, and other investors. Austin-based Saronic, a maker of unmanned maritime security vessels, raised $600 million in a round led by Elad Gil. These funding rounds reflect the sector’s growth, with Swarmer’s public-market success potentially encouraging similar paths for other startups, according to Crunchbase News.
Potential Defense Tech IPO Candidates
Using Crunchbase’s predictive intelligence tools, which analyze data such as funding, valuation, financial growth, key leadership hires, market share expansion, and headcount growth, analysts have identified 12 other defense tech startups as likely IPO candidates. This list is based on Crunchbase’s methodology for forecasting IPO probabilities, providing scores and evidence from company milestones. For instance, the tools consider factors like those seen in recent venture funding surges, as detailed in related Crunchbase queries on defense tech startups likely to IPO.
Crunchbase’s IPO Prediction Methodology
Crunchbase’s IPO predictions utilize its own data to assess the likelihood of private companies going public, as explained in their documentation on Predictions & Insights. This approach has been applied to identify the 12 candidates, drawing from global trends in defense tech venture funding and IPOs for venture-backed companies in 2026, according to Crunchbase News.
