A Ukrainian fund is investing in a Danish defense startup, a reversal for a country far better known for taking in foreign capital than for sending it abroad. Resist.UA is backing BlueShadow, a maritime security firm run by a former US Navy submarine commander but largely engineered in Ukraine, to build defenses for coasts and undersea cables against drones and hybrid attacks.

BlueShadow is registered in Denmark, but almost its entire engineering team works in Ukraine, and it folds gear from more than 15 Ukrainian suppliers of drones, sensors, and communications into a single system.

Resist.UA, which signed a letter of intent to join the company's €2 million pre-seed round, runs a new €50 million fund, Resist 2.0, designed to bring Ukraine's battlefield-proven technology to global markets.

Ukraine engineers the Danish startup

The company was founded in 2025 and is led by Charles Maher, a former commander of a US Navy nuclear submarine, according to Defender Media.

This summer, it registered as a Ukrainian legal entity and builds on Ukrainian components, planning to fit its maritime platforms with M-Fly's RB-220 gimbal, a day-and-night targeting sensor used until now only on flying drones.

The two sides first met in January 2026 and formalized the partnership as BlueShadow raised its round and Resist.UA launched its second fund.

The systems guard the sea

BlueShadow is building two of them. BlueDragon, still in development, is designed to shield Ukraine's coastal cities, ports, and shipping lanes from drone strikes. BlueSentry, which the company plans to launch in October, is aimed at protecting ports, offshore wind farms, undersea cables, and maritime borders from hybrid attack, the kind of sabotage that has repeatedly damaged Baltic Sea infrastructure.

"This partnership will fuel the next phase of our mission to protect people, infrastructure, commerce, and natural resources at sea," the company said.

Ukraine's defense tech turns outward

Ukrainian defense technology, tested in real combat, has drawn growing investor interest, and Ukrainian figures are now building funds to channel it: the former Defense Minister, Mykhailo Fedorov, is raising what he calls the country's largest defense-tech venture fund.