2022 Wrapped up
As a new year has taken off it’s a good time to take a look back and sum up the year 2022. Here’s the brief summary of our performance:
Turnover growth 5X
Sales made to 5 countries
7-year contract worth € 15 mln with Estonian Ministry of Defence
Bridge round of € 300 000 opens in early spring. Seed round closed successfully with John Longhurst, Ivo Mägi, Taavi Kotka and few ohter investors already on board.
Shortlisted in Estonian Startup Awards 2022 competition in The Defence and Security Tech category
2022 was a staggering experience for Europe, which in turn affected KrattWorks progress more than we would have ever anticipated. About a year ago our focus was set on firefighting and rescue missions. We kicked off by running an intercontinental real-time surveillance mission where the drone pilot in California operated a drone flying in Estonia, over a distance of 9200 kilometers.
Fast forward 10 months and we are one of Estonian most promising defence industry startups with contracts worth more than 15 million euros and customers in 3 countries.
We can be proud: KrattWorks had a 5X growth in 2022 and we are looking for AT LEAST the same growth rate to continue in 2023.
Our progress has not gone under the radar. This year we have gained the attention of many investors that have already invested in KrattWorks – John Longhurst, Taavi Kotka and Ivo Mägi to name a few.
The great news on top of our growth is that you can join the team of our investors as well. We have reasons to believe that KrattWorks is one of most promising investments in the overall cautious startup scene. Being nominated among the TOP 10 in Estonian Startup Awards 2022 competition in The Defence and Security Tech category is a strong indication about our direction.
There are many other people and partners who have contributed to our growth by investing their energy and knowledge believing that we have a promising future ahead. On the business side most notably Lithuanian Agmis who is both investor and is also responsible for developing our machine vision algorithms.
Talking about the business and numbers - the most important contract we signed last year was worth 15 million euros to provide aerial target drones for Estonian Defence Forces.
Our drones have gained traction on the defence sector market and we are currently testing similar technology in the UK and Saudi Arabia.
We are working in great partnership with DefSecIntel, whose mobile autonomous surveillance platform SurveilSPIRE is equipped with KrattWorks drone nest.
In addition our drones are used in Georgia, Moldova and in Ukraine. We are currently most focused at the Ukrainian use case because we can provide the defenders of Ukraine with a much better solution, especially considering that they lose 50-100 drones every day (15 – 30 000 drones / year).
Contact us and let’s have a talk about prospects. We are opening a Bridge round of
€ 300 000.- in early spring to get our drones into a serial production!
We wish you all a great start and we know – 2023 will be a very good year!