Pomegra
Luxembourg-based Osavul has closed an €8.5M Series A led by 33N Ventures to scale AI threat intelligence for governments, defence bodies and critical industries.
Key Takeaways
- Osavul raised an €8.5M Series A led by 33N Ventures, announced October 1, 2026; valuation undisclosed.
- Total funding is about €12M; Balnord, G+D Ventures and existing backer 42CAP joined.
- Total contract value quadrupled in 2025; clients span more than 10 countries.
Lead
Osavul, a Ukrainian-founded threat-intelligence company now headquartered in Luxembourg, announced an €8.5M Series A on October 1, 2026. 33N Ventures, a European cybersecurity fund, led the round, with Balnord, G+D Ventures and existing investor 42CAP participating. The raise brings total funding to about €12M, and the company did not disclose a valuation.
The money will go to research and development and sales expansion. Osavul wants to widen its base beyond government and defence into energy, transport and finance.
What Does Osavul Actually Sell?
Osavul sells an AI platform that detects hybrid threats: coordinated campaigns that combine cyberattacks, sabotage, espionage and online manipulation. The software scans open-source and privileged data for early signs that a hostile group is targeting a client. It then maps those signals to the client's people, facilities and suppliers to show where an attack could land.
That framing separates it from conventional cyber tools, which watch networks and endpoints. Osavul watches the information environment and the physical exposure around an organisation. Its closest competitors in media and narrative monitoring are larger social-listening vendors, including Brandwatch and Blackbird.AI, which are also its consortium partners at NATO.
Where Did the Company Come From?
Osavul began in Kyiv in 2022, after Russia's full-scale invasion of Ukraine, tracking Russian disinformation for Ukrainian security bodies. Co-founders Dmytro Plieshakov (CEO) and Dmytro Bilash (chief business development officer) built the product under live operational conditions. The company now operates from London and Luxembourg.
Bilash has said hybrid threats are a fairly new phenomenon at this scale and intensity. Plieshakov said the company will keep working with governments and defence, "where our intelligence is forged," while acknowledging that hybrid attacks are no longer only a government problem.
How Strong Is the Traction?
Osavul serves government, defence and security institutions in more than 10 countries, including the UK, Germany, Poland, the Nordics, the US and the Asia-Pacific region. It is one of three technology companies delivering NATO's Information Environment Assessment Capability, as a partner in the consortium led by Brandwatch and Blackbird.AI. Total contract value quadrupled in 2025.
Those are growth rates from an unstated base. Osavul has not published revenue, annual recurring revenue or headcount, so the quadrupling cannot be translated into a dollar figure. A cumulative €12M raised in four years is modest next to defence-tech rounds elsewhere, which suggests the company has been capital-efficient or that investors waited for the NATO validation before committing more.
Why Does the Move Into Commercial Customers Matter?
The shift into banks, transport operators and energy firms matters because government budgets for information-environment monitoring are lumpy and politically exposed. Procurement cycles in NATO and national ministries run long, and a single contract can dominate a small vendor's book. Corporate buyers add a second revenue stream with shorter sales cycles.
The pitch also reflects how hybrid campaigns operate. Attackers who target a rail operator or a port rarely stop at the network perimeter, and security teams at those firms have few tools that connect disinformation, physical sabotage risk and supplier exposure in one view. Osavul is betting that corporate security chiefs will pay for what defence ministries already buy.
The risk is that the commercial market is crowded. Established threat-intelligence providers and social-listening platforms are adding hybrid-threat features, and enterprise buyers may prefer to extend an existing vendor rather than add a new one.
What Does the Round Say About Investor Appetite?
The round points to continued European appetite for security companies tied to the war in Ukraine and NATO's expanding information-warfare requirements. Having a cybersecurity specialist such as 33N Ventures lead, alongside a strategic corporate investor in G+D Ventures, signals a thesis built on security rather than generic AI. The return of 42CAP indicates insiders saw enough progress to back the company again.
With no valuation disclosed, it is hard to judge pricing against the earlier round. The size of the cheque, though, is consistent with a company that has proven government demand and now needs to fund enterprise sales.
Outlook
Osavul enters its next phase with €8.5M, a NATO credential and a plan to sell hybrid threat intelligence beyond defence. The test over the next 12 to 18 months is whether corporate customers sign at a pace that diversifies a revenue base now concentrated in government. Disclosure of revenue or a follow-on round would show whether the 2025 contract growth carries into 2026.
