Fundraising Fox

Orqa

Osijek, HR · Founded 2017 · 169 employees · 8 known investors

Orqa manufactures the MRM2-10, an NDAA-compliant, EU-made dual-use drone platform built from carbon fibre that carries payloads up to 3.5 kg for tactical and commercial operators. The system features an electronic-warfare-resilient IRONghost sub-GHz control link, a modular airframe, and integration with flight firmwares and C2 ecosystems like ATAK and MAVLINK.

Also known as Orqa d.o.o. · Orqa FPV

Founders & leadership

SK
Srdjan Kovacevic
IJ
Ivan Jelusic
VM
Vlatko Matijevic

Investors · 8

Also in the syndicate · 3

AymoExpeditions VenturesleadRadius Capital

Company profile

researched Aug 2026

Orqa d.o.o. is a Croatian manufacturer of drone systems and first-person view (FPV) equipment headquartered in Osijek, where its development and production are based. Its product range spans FPV goggles (FPV.One, FPV.One Pilot, FPV.One Race), connectivity and video add-ons (FPV.Connect, FPV.Play), antennas, radio controllers, flight controllers and ESCs (e.g. FC2020-F722, ESC2020, 4in1 3030 ESC, F405 3030 FC), ready-to-fly quads such as the DreamX 5", and unmanned aerial systems for defence use including the MRM-2 Interceptor and the MRM2-10AI hybrid fibre-optic/radio tactical drone unveiled in June 2026. The company also operates an online shop selling its own gear alongside third-party brands.

Orqa performs almost all engineering in house — mechanical, electronics and RF design, firmware, optics, prototyping and manufacturing — and states that every component except micro-displays is made in Osijek, with products labelled "Made in Europe". It designs and manufactures flight controllers, radios, motors, cameras and printed circuit boards itself and avoids Chinese-made parts to maintain supply-chain sovereignty; its Osijek prototyping lab includes FDM and SLS 3D printers, laser cutters, CNC machining and RF design and test equipment. Since the 2020s the firm has become a significant defence contractor in Croatia and a supplier to the Armed Forces of Ukraine, and has expanded manufacturing and partnerships across Europe, Asia and the United States.

Founding story

The company was founded in late 2018 by three Osijek-based founders — Srđan Kovačević, Ivan Jelušić and Vlatko Matijević — with the stated aim of innovating products across the FPV drone industry and becoming a leading technology provider for first-person view and advanced remote reality vision systems. The team, described as FPV enthusiasts and engineers, first showed the FPV.One goggles prototype at CES in January 2019 and used community feedback from the FPV market to refine the product before its Kickstarter launch.

Business model

Orqa develops, manufactures and sells FPV drones, unmanned aerial systems, goggles and drone electronics. Hardware is sold directly through its own online shop and through resellers, and to institutional buyers including armed forces and defence ministries; the Croatian Army ordered FPV MRM-2 Interceptor drones for €10 million. It has also been a supplier to the US Department of Defense. Beyond direct manufacturing, the company licenses its designs and components to international manufacturing partners under a Global Manufacturing Partnership Program, and has established a US spinoff, Orqa US, for localized production.

Revenue comes from sales of drones, unmanned aerial systems, FPV goggles, electronics and accessories to consumers, resellers and defence customers, plus cooperation and production agreements with partner manufacturers. Reported revenue was €24.16 million for 2025.

Traction

More than 600 goggles sold in the initial Kickstarter campaign, which was 200% over goal five minutes after launch; first FPV.One deliveries to resellers in January 2020. Reported 2025 revenue of €24.16 million with 127 employees, while the company's own site cites a team of more than 150 people. Production capacity at the Osijek facility reached 280,000 NDAA-compliant drones per year, with an ambition of over one million annually through partners. Customers and orders include a €10 million Croatian Army order for FPV MRM-2 Interceptor drones, supply to the Armed Forces of Ukraine, and a $150 million CAD Canadian drone production deal.

Latest developments

In June 2026 Orqa unveiled the MRM2-10AI, a hybrid drone controllable via fibre-optic cable or its IRONghost radio system with onboard AI processing and image-based navigation. During 2026 it signed production cooperation agreements with Qatar's Barzan, General Cherry in Ukraine (UAV components plant), Firestorm and Red River Depot in the US and a partner in Canada, and launched Orqa US with By Light Professional IT Services, including a 17,000 m² facility in Port Orange, Florida. On 10 March 2026 a €12.7 million Series A led by Expeditions Ventures was reported, intended to fund manufacturing expansion, supply-chain development and potential acquisitions.

Full profile — market position, technology, go-to-market, geography, history, risks & controversies

Market position

Orqa is described as Croatia's drone champion and a significant Croatian defence contractor, positioned within the Western defence ecosystem as a supplier of NDAA-compliant, China-free FPV drones. It is one of the few FPV market participants doing nearly all engineering in house, and it competes with assemblers of third-party components; total funding of just over €20 million is modest relative to the defence tech sector.

Full vertical integration: Orqa designs and manufactures its own components — flight controllers, radios, motors, cameras, PCBs, antennas, headsets and low-latency video transport — instead of assembling third-party parts, with everything except micro-displays produced in Osijek. Avoiding critical Chinese components addresses both security concerns and scaling constraints, and enables NDAA-compliant production.

Technology

Orqa's technology pipeline covers the full FPV stack: antennas, radio controllers, headsets and low-latency video signal transport, supported by electronic, mechanical and optical engineering, embedded and backend software, prototyping and manufacturing. Products include FPV goggles with connectivity add-ons for DVR and live streaming, flight controllers and ESC stacks, and the MRM2-10AI hybrid tactical drone that combines fibre-optic tethered control with the proprietary IRONghost radio system, onboard AI processing and image-based navigation, switching control modes according to jamming and battlefield conditions.

Go-to-market

Direct e-commerce through shop.orqafpv.com with global express shipping, plus reseller distribution for goggles; crowdfunding (Kickstarter) was used for the initial FPV.One launch, and community engagement runs through a forum, social channels and customer support. Defence sales run through government and armed forces procurement and through partnerships with defence primes and integrators such as Baykar, DOK-ING, By Light Professional IT Services, Firestorm, Red River Depot, Barzan and General Cherry. International expansion is pursued via the Global Manufacturing Partnership Program.

FPV drone racing and freestyle pilots and hobbyists buying goggles, electronics and ready-to-fly quads; defence and government customers including the Croatian Army, the Armed Forces of Ukraine and the US Department of Defense; and international manufacturing partners producing Orqa-designed systems under license.

Geography

Headquarters, development and production in Osijek, Croatia (J.J. Strossmayera 341), serving customers globally. Manufacturing partnerships are being established in North America, Europe, the Middle East and the Indo-Pacific, with cooperation agreements signed in Qatar, Ukraine, the United States and Canada, and a US spinoff, Orqa US, operating a 17,000 m² production facility in Port Orange, Florida.

History

Orqa was founded in late 2018 in Osijek, Croatia by Srđan Kovačević, Ivan Jelušić and Vlatko Matijević. It presented a prototype of its FPV.One goggles for racing and freestyle pilots at CES in Las Vegas in January 2019 and, after roughly two years of prototyping, launched a Kickstarter campaign on 15 June that reached its goal within two minutes, exceeded it by 200% within five minutes and sold more than 600 goggles. First FPV.One batches shipped to resellers in January 2020, and the FPV.Connect add-on for DVR access and real-time flight livestreaming followed in May 2020; the company also began building racing drones. In 2023 Orqa acquired Swiss FPV electronics maker ImmersionRC, and in May of that year faced an incident in which its FPV goggles were bricked by a third-party software issue. In 2024 it raised a $5.8 million investment from Lightspeed Venture Partners and entered partnerships with Baykar (integrating Orqa FPV drones onto the Bayraktar TB2) and DOK-ING (manned-unmanned teaming). In 2025 it expanded Osijek capacity to 280,000 drones per year, won a €10 million Croatian Army order, and launched a Global Manufacturing Partnership Program; US DoD purchases were halted after a Chinese-made radio module was found in its drones, which the CEO said was subsequently moved in-house. In 2026 it signed cooperation agreements with partners in Qatar, Ukraine, the US and Canada, set up Orqa US with By Light Professional IT Services and a 17,000 m² facility in Port Orange, Florida, unveiled the MRM2-10AI hybrid drone, and closed a €12.7 million Series A.

Risks & controversies

In May 2023 Orqa FPV goggles were bricked by a third-party software issue attributed either to an unpaid firmware license or to ransomware. In 2025, US Department of Defense purchases of its drones were halted after a radio module inside the drones was found to have been manufactured in China; the CEO said production of that module had since been moved in-house. Total funding raised is modest by defence tech standards, and the planned scale-up to over one million drones a year depends on third-party manufacturing partners.

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Annual production capacityMar 2026280,000 NDAA-compliant drones per year
Average employee ageJan 202626 years
Canadian drone production deal valueJan 2026150,000,000 CAD
Croatian Army order valueJan 202510,000,000 EUR
EmployeesJan 2025127 people
Employees (company-stated)Jan 2026more than 150
Kickstarter goggles soldJan 2019600 units
RevenueJan 2025$24.2M
Targeted annual production capacity via partnersMar 20261,000,000 drones per year
Total funding raisedMar 2026$20M
US production facility sizeJan 202617,000 square metres

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Timeline · 20

launches, deals, and filings
Jun 2026
MRM2-10AI hybrid tactical drone unveiled

Orqa unveiled the MRM2-10AI, a drone operated via fibre-optic cable or the proprietary IRONghost radio system, with onboard AI processing and image-based navigation that switches control methods depending on battlefield disruption.

source ↗

Mar 2026
Orqa raises €12.7M Series A led by Expeditions Ventures

Series A of €12.7 million led by Expeditions Ventures with participation from Lightspeed Venture Partners, Taiwania Capital, Aymo and Radius Capital, to scale drone manufacturing and expand internationally, including potential acquisitions.

source ↗

Jan 2026
Orqa US spinoff launched with By Light Professional IT Services

Orqa and By Light Professional IT Services launched Orqa US to oversee localized production of Orqa drones, with a 17,000 square metre production facility in Port Orange, Florida.

source ↗

Jan 2026
Agreement with General Cherry to build UAV components plant in Ukraine

source ↗

Jan 2026
Canadian drone production deal worth CAD 150 million

source ↗

Jan 2026
Drone production cooperation deal with Qatar's Barzan

source ↗

Jan 2026
Partnership with Firestorm to create a small drone

source ↗

Jan 2026
Partnership with Red River Depot to boost US Army drone production

source ↗

Jan 2025
Launch of Global Manufacturing Partnership Program

Orqa launched a program of international manufacturing partners producing standardized systems from Orqa designs and components, targeting over one million drones annually.

source ↗

Jan 2025
Osijek production capacity expanded to 280,000 drones per year

Orqa expanded annual production capacity at its main Osijek facility to 280,000 drones while removing reliance on Chinese technology.

source ↗

Jan 2025
Croatian Army orders FPV MRM-2 Interceptor drones for €10 million

The Croatian Army ordered FPV MRM-2 Interceptor drones for €10 million; the drones were also purchased for use by the Armed Forces of Ukraine.

source ↗

Jan 2025
US Department of Defense purchases halted over Chinese-made radio module

Purchases of Orqa drones by the US Department of Defense were halted after a radio module inside the drones was found to have been manufactured in China; the CEO said module manufacturing had since been moved in-house.

source ↗

Jan 2024
$5.8M seed investment led by Lightspeed Venture Partners

Orqa received a $5.8 million (€5.8 million) seed investment led by Lightspeed Venture Partners.

$5.8M source ↗

Jan 2024
Partnership with Baykar to carry Orqa FPV drones on Bayraktar TB2

Orqa and Baykar plan to integrate Orqa's FPV drones so they can be carried by the Bayraktar TB2 UAV.

source ↗

Jan 2024
Partnership with DOK-ING on manned-unmanned teaming

Orqa partnered with DOK-ING to develop manned-unmanned teaming (MUM-T) technologies for dual-use applications.

source ↗

Jan 2023
Orqa acquires ImmersionRC

Orqa acquired ImmersionRC, a Swiss producer of FPV electronics, in a merger creating an EU-based drone electronics business.

source ↗

May 2020
FPV.Connect released

Orqa released its first connectivity add-on, enabling DVR access and real-time livestreaming of flight.

source ↗

Jan 2020
First FPV.One deliveries to resellers

source ↗

Jun 2019
FPV.One Kickstarter campaign

Orqa launched a Kickstarter campaign for the FPV.One goggles on 15 June, reaching its funding goal within two minutes and exceeding it by 200% within five minutes; more than 600 goggles were sold.

source ↗

Jan 2019
FPV.One goggles prototype presented at CES in Las Vegas

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Research sources · 8

primary sources listed
  • Orqaorqafpv.com · web

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Orqa do?
Croatian manufacturer of FPV drones, goggles and drone electronics for defence and commercial use, built without Chinese components.
Who are Orqa's investors?
Orqa's investors include Booz Allen Ventures, Day One Capital, Expeditions, Radius Capital Ventures, Taiwania Capital.
Where is Orqa headquartered?
Orqa is headquartered in Osijek, HR.