Swarmer Announces Public Filing of Registration Statement for IPO

Ukrainian Defense Tech company Swarmer, which develops AI solutions for drone swarm automation, has filed for an IPO under the ticker SWMR.

Thus, after the placement of shares, Swarmer will become the first Ukrainian DefTech company to go public.

On Monday, February 2, the company filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to a proposed underwritten initial public offering of its common shares on the Nasdaq stock exchange. AIN found this information on the EDGAR portal.

The timing of the offering, number of common shares to be offered, and the price range for the proposed offering have not yet been determined, experts analyzing the Defense Tech market told the editorial office, requesting to remain anonymous.

The sole bookrunner for the proposed offering is the Lucid Capital Markets, AIN has learned. The IPO will not affect the company’s activities in Ukraine and does not involve the “transfer of technology” outside the country, according to analysts we spoke with.

The proposed offering will be made only by means of a prospectus. This means, in particular, that the company will disclose its financial statements, development strategies, a comprehensive description of the management team and shareholders, and other information.

Also, as the editorial office has learned, until the shares are listed on the stock exchange, common shares will not be sold, and offers to purchase will not be accepted.

About Swarmer

Swarmer is a Defense Tech company with Ukrainian roots that specializes in AI solutions for drone swarm missions.

On September 16, 2025, the company raised $15 million in a Series A round, which was the largest investment in a Ukrainian defense technology company since the start of the war. The round was led by the American company Broadband Capital Investments, joined by R-G.AI, D3 Ventures, Green Flag Ventures, Radius Capital, and Network VC.

According to analysts interviewed by AIN, Swarmer’s global team has doubled since this round of funding.

Swarmer’s main areas of activity include autonomous swarm coordination, integration of unmanned systems in various fields, shared autonomy based on artificial intelligence, and
software for managing and controlling distributed robotic operations.

As previously reported by the company, since April 2024, when Swarmer’s technology was first used in combat operations in Ukraine, more than 100,000 combat missions have been completed using their software solutions.

Swarmer is headquartered in Austin, Texas, with operations and R&D teams in Ukraine, Poland, and Estonia.