8/6/2024 100,000 euro investment for Dobbelgänger at DEFINE event

Dobbelgänger has been selected as the winner of the DEFINE Pitch Finland DefSec startup competition held in Riihimäki on 7 June 2024. Dobbelgänger has its origins in VTT’s accelerator programme. The company has now won a €100,000 investment from a group of angel and venture capital investors in a defence start-up competition. Dobbelgänger has developed lightweight and easily assembled decoys that can mimic features such as thermal and radar capabilities. Six other finalists in the Pitch Finland DefSec startup competition also convinced angel investors.

Dobbelgänger has been working with the Defence Forces for a long time and their technology is considered revolutionary. A jury of defence and investment experts praised the winners:

“Dobbelgänger has built some very cool technology. Product development has been carried out from the beginning in cooperation with the Defence Forces. For example, all structures can be assembled without tools. The CEO’s general knowledge and attitude is also very convincing,” sums up Tiina Laisi-Puheloinen, member of the jury and CEO of FiBAN, one of the organisers of the competition.

The other six finalists are MarshallAI, ReLoc, AirHUD, PictM Technologies Oy, Spectacular AI, and Wayren. Gim Robotics, the company behind ReLoc, is so far the only Finnish company to be selected for NATO’s DIANA accelerator.

The competition was judged by Thorsten Claus, CEO and investor of Nato Innovation Fund, Major General Mikko Heiskanen, Chief of War Economy, Riku Asikainen, founder of Evli Growth Partners and FiBAN, Jan-Erik Saarinen of Double Tap Investment, Teemu Seppälä, Director of Technology and Innovation of the City of Riihimäki, and Tiina Laisi-Puheloinen, CEO of FiBAN.

Pitch Finland DefSec -startup competition

The event is organised by Finnish Business Angels Network FiBAN, Tesi (Finnish Industry Investment Ltd), VTT Technical Research Centre of Finland, Business Finland, City of Riihimäki, DEFINE Defence Innovation Network Finland, Finnish Venture Capital Association, and Finnish Information Security Cluster Kyberala. The event was organised as part of the DEFINE project led by the City of Riihimäki, in conjunction with the International Sportsmen’s Fair’s MaanpuolustusAreena Defence Exhibition in Riihimäki in June 2024.