Romanian company OVES Enterprise has announced that it is in discussions to attract financing of 55 million euros, at a time when „it was valued at 298 million euros,” according to a statement sent to the entrepreneurial community. StartupCafe. The initiative comes in a context where the defense industry is accelerating investments in artificial intelligence, autonomy, and systems capable of responding to increasingly complex operational scenarios.
The targeted capital is intended to support technological development, testing, industrialization, integration into new systems, and international expansion, as well as team strengthening, according to the company.
In a field where the transition from technology to product requires significant resources and an accelerated pace of execution, access to funding becomes essential for companies aiming for strategically important projects.
The company also says it is open to capital partners, at a time when it is discussing the development of products both under white label and through partnerships with major defense industry players.
Nemesis AI and Sahara at the center of the evaluation
The valuation of 298 million euros is based on the Nemesis AI technology, internally developed intellectual property, code volume (over 1.3 million lines), strategic partnerships, operational results, and the commercial potential of products under development, according to the statement.
A central element is the integration of Nemesis AI into defense systems, including through a partnership with MSI Defense Solutions. The company claims the technology is used in EAGLS systems deployed by the US military in the Middle East.
In parallel, the Sahara Autonomous System project marks the company's entry into a product area of higher complexity and strategic importance. OVES Enterprise states that it is discussing the development of Sahara both on a white label basis and through partnerships with large companies in the defense industry, with existing interest indicating, according to them, real commercial potential.
„The valuation of 298 million euros confirms the value of the technology and intellectual property we have built around Nemesis AI, as well as the commercial potential of the products developed by OVES Enterprise, including Sahara.”, says Mihai Filip, CEO OVES Enterprise.
„We are at a point where the next stage requires serious capital for development, testing, industrialization, and integration into systems with real-world applicability. We are looking for partners who understand this stake and can support the growth of a company developing relevant technology for the new generation of defense systems.” says the founder of OVES.