Fedorov launches defense company with Palantir CEO Alex Karp as lead investor

Former Ukrainian Defense Minister Mykhailo Fedorov is launching a new defense company. Its lead investor will be Alex Karp, CEO of American IT company Palantir.

This was stated in a press release from Fedorov’s team.

Details about the company, its technological focus, and investment plans have not yet been disclosed. The investment amount has also not been revealed.

Alex Karp announced his support for the project at a meeting with Mykhailo Fedorov at Palantir’s Washington office on August 31. In a joint video with Fedorov, Karp said:

“You and your colleagues are launching a company that I believe will be of defining importance to the world, turning your knowledge and understanding of modern warfare into a product for allied nations. And if we can help you with that, it will be a great honor for us,” — Karp said.

In mid-August, Reuters reported that Fedorov would travel to the United States to raise funding for projects in the field of new defense technologies — not to seek Washington’s backing for possible elections, as other media had reported. According to the agency, the former minister decided to pursue such projects after leaving his senior post, in search of new opportunities.