UK Defence Tech 2025
In collaboration with MD One Ventures, we examine the state of the UK Defence Tech ecosystem.
In collaboration with MD One Ventures, we explore trends across defence tech, including software, hardware, and dual-use products.
Key findings include:
£1.26b equity invested over the past decade
11.7% of UK defence tech companies have spunout of an academic institution.
Company profiles highlight the success of dual-use within defence tech, including Labrys, which raised £15.0m in equity funding in May 2025. As well as MatNex, Untap, and Milvus Advanced.
Inside the report
About the authors
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Henry Whorwood
Managing Director
Henry leads our Research & Consultancy team, and is an expert on equity finance and high-growth business. He's worked on briefs for the likes of Barclays, SyndicateRoom, Innovate UK, Smith & Williamson and British Business Bank. He regularly gives presentations on market trends at events around the UK.
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Callum Newton
Senior Associate
Callum is a Senior Research & Consultancy Associate, responsible for leading on the team's public sector work. Before joining Beauhurst, Callum was a Senior Researcher at Westminster-based think-tank Onward focusing on ‘Levelling Up’ policy. He was also a Consultant in Portland Communication’s specialist Litigation & Disputes practice.
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Hannah Nicholls
Designer
Hannah produces graphic design and data visualisation for the Research & Consultancy team. Since receiving a BA (Hons) in Graphic Design Communications from Chelsea College of Arts (University of the Arts London), Hannah has accumulated over 10+ years of experience within the design industry and has specialised in data visualisation for the last 3+ years.
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Miraj Mistry
Research Manager
Miraj handles project management and data analysis. Miraj recently joined Beauhurst, his previous role was with an economic consultancy who specialise in providing socio-economic research and analysis to support infrastructure and transport projects. He holds an MSc in economics from the University of Bristol and a BSc from the University of Leeds.
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