Fylgia has acted as legal advisor to the Swedish-Finnish defence technology company Monava in connection with the company's latest financing round, in which Gungnir Capital came in as the largest investor. Foundry Ventures and Hede Capital also participated in the round.

Monava develops technology that uses advanced acoustics and artificial intelligence to detect, track and classify drones. Since the system is entirely passive, it emits no signals that can be detected or jammed, and it picks up threats that radar and other sensors risk missing. The sensors are already deployed in the Nordics and in Ukraine, following extensive testing together with armed forces. The capital injection will be used to commercialise the technology and scale up the organisation in line with rapidly growing demand.

For Gungnir Capital, founded by Max Villman, the investment is the firm's third since its inception and its first in a Swedish company.

The assignment sits at the intersection of technology, growth financing and a defence sector facing rapidly increasing regulatory requirements – an area where Fylgia combines transactional expertise with deep knowledge of the defence sector.

Fylgia's team consisted of the lawyers Markus Garfvé (public procurement) and Jesper Linder (M&A).