S-Ventures PLC (AQSE:SVEN), the Aquis-listed investment company, is raising up to £2 million through a share placing to fund an investment in Hybrid Drones Ltd (HDL), a defence technology company developing next-generation unmanned aerial vehicles (UAVs) that combine jet propulsion with battery-powered systems.
The fundraise will be conducted at 3.5 pence per share, with initial commitments of £250,000 already secured from directors and existing shareholders, including £50,000 each from directors Bhanu Choudhrie and Scott Livingston.
Subject to completion of the placing, S-Ventures intends to invest up to £1.5 million in HDL as part of a broader funding round that has previously attracted participation from MBDA, one of the world's largest defence enterprises and a specialist in advanced missile systems.
HDL's hybrid UAV platform has received industry recognition for extended flight range and payload-to-weight performance, with the company currently progressing opportunities with military organisations and government partners internationally.
S-Ventures said it has the opportunity to invest at a valuation below £10 million and, in the event it acquires a material stake, expects to secure a board seat at HDL.
Director Bhanu Choudhrie said growing demand for advanced autonomous aerial systems from governments and military organisations globally positions HDL well to capitalise on a rapidly expanding market.
The fundraise is expected to complete during March 2026, with proceeds directed primarily towards the HDL investment.