Former Ukrainian Defense Minister Mykhailo Fedorov and Palantir CEO Alex Karp are launching a defense technology company, with Karp serving as the venture’s first investor. The partnership will focus on developing technology to strengthen Ukraine, support its allies and “ultimately make the world safer,” Defense News reported.
Fedorov said in a Tuesday press release that his team gained experience working with defense technologies during Russia’s full-scale war against Ukraine and saw how technology was changing modern warfare. He said the new venture would draw on that experience to build technologies that strengthen Ukraine and help its allies.
The announcement follows Fedorov’s departure from Ukraine’s government in July. He confirmed last weekend that he would not return to government and planned to pursue several projects, including building a defense investment fund and advising Italy’s Ministry of Defense. He said Ukraine would remain his priority despite his new international ventures.
Karp’s backing could mean billions in investment for Fedorov and Ukraine’s defense industry, according to the report. Palantir reported 93% year-over-year revenue growth in its most recent quarter, while the company’s valuation rose above $440 billion, up nearly 28-fold from its 2020 stock market debut. About half of Palantir’s total revenue comes from U.S. government contracts.
The new company builds on an existing relationship between Fedorov and Palantir. During his time as defense minister, Fedorov backed Delta, a Ukrainian battlefield management system that combines drone feeds, radar and field data in a layered dashboard. The system can help oversee the front in real time and allow users to examine battle data after an operation.
Delta has also been cited as an example of Ukraine’s efforts to integrate battlefield data and technology during the war. Outgoing U.S. Army Secretary Dan Driscoll described Delta’s modular, open-system architecture and command-and-control capabilities as “absolutely incredible” in testimony to the U.S. Senate in May. He contrasted it with U.S. Army systems that he said remained compartmentalized and isolated against modern threats.
Palantir has developed a comparable system called Maven Smart System, which combines operational data and intelligence analysis for battle planning and briefings. The system uses Anthropic’s artificial-intelligence model, according to the report.
Palantir technology has also been deployed by more than half a dozen Ukrainian government agencies since Russia’s 2022 invasion. One joint effort, Ukraine’s Brave1 Dataroom, operates on Palantir’s infrastructure and allows Ukrainian companies to train artificial-intelligence models using real combat data. The project includes work on target-detection systems intended to counter Shahed-type drones. Ukraine’s defense ministry and Palantir launched the Dataroom earlier this year.
Karp was among the first Western technology executives to travel to Kyiv after Russia’s invasion. In a joint video announcing the venture, he said he and Fedorov had worked together for five years and that he had been inspired by what Fedorov and Ukrainians had accomplished. Karp also said he was pleased that Palantir had been able to play a role.
The relationship continued after Fedorov’s dismissal. Karp reportedly contacted him soon after news of the removal emerged over the summer, proposing that they work together. Fedorov said at the time that he asked to return to the discussion later.
President Volodymyr Zelenskyy dismissed Fedorov in July despite the former minister’s popularity among civilians and soldiers. His technology-focused military policies and initiatives had helped establish his public profile, and his departure prompted weeks of protests calling for his reinstatement. The new venture marks Fedorov’s first announced business partnership since leaving government, while extending his work with Palantir beyond projects conducted through Ukraine’s state institutions.