A European counter-drone startup founded in 2024 is already worth $3.4 billion

Cambridge Aerospace was founded only in 2024. Now it has raised $300 million at a $3.4 billion valuation while building counter-drone and missile interception systems for the European defence market.
What I find more interesting than the valuation is how quickly this happened.
Europe’s defence industry has traditionally been associated with huge incumbents, slow procurement and long development cycles. A company going from zero to a multibillion-dollar valuation in roughly two years feels like a sign that something is changing.
The company already has contracts with the UK Ministry of Defence and is expanding across several European markets.
If this pace continues, Europe could end up with a much larger defence-tech startup ecosystem than most people expected a few years ago.
Do you think companies like this can genuinely challenge Europe’s established defence giants, or will they eventually just get absorbed by them?
Source: Tech.eu — Cambridge Aerospace’s valuation leaps to $3.4BN as raises $300M