Dutch aerospace and defence technology company Destinus has received a €50 million credit facility from Commerzbank. The financing marks Destinus’ first commercial bank facility and represents a significant milestone in the company’s industrial maturation. The new debt will support the next stage of growth as Destinus increases production and strengthens its position within the European aerospace and defence ecosystem.
Building on a Strong Capital Base
The Commerzbank facility complements €140 million in recently closed convertible instruments and shareholder loans, which followed earlier equity rounds. Combined with more than €200 million already raised in equity, Destinus has now secured nearly €400 million in total capital since its founding in 2021. The size and structure of the financing reflect growing institutional confidence in the company’s strategy and execution as it transitions from venture-backed innovation to industrial-scale manufacturing.
From Hypersonic Vision to Market Reality
Founded by entrepreneur Mikhail Kokorich, Destinus initially captured attention with its ambitious vision of hydrogen-powered hypersonic aircraft capable of sustained flight above Mach 5. The company argued such aircraft could one day reduce intercontinental travel times dramatically, potentially cutting flights from Europe to Australia from around 20 hours to just four.
Early Demonstrators and Technical Foundations
Early demonstrator aircraft, including Jungfrau and Eiger, were designed to test the aerodynamics, propulsion systems and advanced materials required for a future hypersonic “hyperplane”. These programmes positioned Destinus as one of Europe’s boldest aviation startups and laid the technical groundwork for its later platforms.
Strategic Shift Toward Dual-Use Systems
Over the past two years, Destinus has recalibrated its focus toward nearer-term, commercially viable aerospace technologies. Rather than prioritising passenger hypersonic flight, the company has centred its efforts on dual-use systems, particularly autonomous and uncrewed platforms suited to defence, security and industrial applications.
Expanding UAV Portfolio
Today, Destinus’ product portfolio includes several unmanned aerial vehicle (UAV) platforms such as LORD, RUTA and Hornet. These systems are designed for surveillance, reconnaissance, mapping, rapid response and defence missions, aligning with Europe’s growing demand for autonomous capabilities amid heightened geopolitical uncertainty.
AI and Autonomy Strengthened by Acquisition
The strategic pivot was reinforced in 2025 with Destinus’ acquisition of Swiss AI avionics specialist Daedalean in a deal reported to be worth around $220–225 million. The acquisition brought advanced AI and autonomy expertise in-house, highlighting Destinus’ growing emphasis on scalable, AI-driven flight systems over raw speed alone.
Scaling Europe’s Defence Industrial Base
With approximately 750 engineers and specialists across Europe, Destinus is positioning itself as a vertically integrated player within the European defence industrial base. The company combines AI-enabled design, in-house manufacturing and systems integration to deliver autonomous systems and effectors at an industrial scale, supporting Europe’s ambition to strengthen sovereign defence capabilities.
Confidence in Industrial Scale-Up
“Obtaining this facility is a significant landmark for Destinus and a strong indication that Europe can produce high-performance autonomous flight systems on a large scale,” said founder and CEO Mikhail Kokorich. He added that the financing supports the company’s production roadmap and accelerates the industrialisation of its platforms for European and allied customers.
Expanding Production and Infrastructure
According to Destinus, the new funding will be used to expand production lines, integration facilities and testing infrastructure across Europe. This investment is expected to increase output, shorten delivery cycles and enable more cost-efficient manufacturing of autonomous systems.
A Broader Deeptech Shift
Destinus’ evolution from a hypersonic moonshot to an industrial defence supplier reflects a broader trend in European deeptech, as science-driven startups adapt their ambitions to meet immediate strategic and market needs. With substantial capital secured and bank financing now in place, Destinus is entering a decisive phase of growth within Europe’s rapidly changing security landscape.