Svyrydenko announces first investment from Ukrainian-American fund in navigation systems
Active work is underway in Ukraine to attract foreign investment into the technology sector.
As reported by Censor.NET, during a meeting of the Board of the American-Ukrainian Reconstruction Investment Fund (URIF), the fund approved its first investment, which was directed to the Ukrainian dual-use technology company Sine Engineering, Prime Minister Yuliia Svyrydenko noted.
The company specialises in communications and navigation, and its components are already used by more than 150 Ukrainian manufacturers of drones and interceptors, Censor.NET reports.
"Less than a year after the signing of the bilateral agreement, the fund received more than 200 applications for consideration, most of them submitted by Ukrainian companies. This confirms that Ukrainian technologies have strong investment potential," Svyrydenko said.
Priorities of the fund and Ukrainian technologies
According to the prime minister, the largest number of proposals came from the energy sector, which is key to the country’s recovery. Other priorities include the production of dual-use goods, infrastructure and critical minerals.
The reconstruction fund is part of Ukraine’s strategic partnership with the United States and demonstrates that Ukrainian companies can successfully attract investments even during wartime.
Impact on business development and drone technologies
The investment in Sine Engineering opens up new opportunities for the development of Ukrainian drones and high-tech dual-use products. This confirms that a combination of state support and international investment can stimulate the development of critical sectors of the economy.
- Earlier, Ukraine’s Ministry of Defense codified and approved for use in the Armed Forces of Ukraine the Ukrainian-made Shvydun unmanned aerial system.
