How to Build a Defense Tech Startup & Raise €1.1M | Innovantage Podcast #54

What does it take to build a defense tech startup, raise €1.1 million, and manufacture drone technology in Europe? In this episode of the Innovantage Podcast, Elvinas Kukys, CEO and Co-Founder of Luna Robotics, shares how the Lithuanian hardware startup is building advanced vision systems for unmanned platforms without relying on Chinese supply chains or unnecessary AI. Drawing on his military background and startup journey, Elvinas explains how Luna Robotics grew from an idea into one of Lithuania's emerging defense tech companies, developing dual-use technology designed for both military and civilian applications. Learn what investors actually look for, how to become better at pitching, when bootstrapping becomes a mistake, and why building a hardware startup requires a different mindset than chasing the latest AI trend. Introduction 0:00 Luna Robotics and Elvinas' journey  0:31 How AI hallucinates drone camera images  05:51 Why Luna Robotics is China free  07:34 Manufacturing hardware in the Baltics  09:52 How Luna Robotics raised €1.1 million  15:34 Mastering the art of startup pitching  21:41 Why you shouldn't bootstrap too much 27:13 Building a startup with dual use technology  33:33 Never build custom features for only one customer 38:15  What metrics investors actually pay attention to 46:20 Lithuania's defense tech boom and AI's future  50:23 Advice to my 20 year old self   56:33 Where to find Elvinas 57:37 Connect with our guest Elvinas Kukys – https://www.linkedin.com/in/ekukys/  Luna Robotics – https://www.lunarobotics.eu/  Connect with Max  Max Golikov –  https://www.linkedin.com/in/maxim-golikov/   🎧 Listen Now Spotify: https://open.spotify.com/show/19M3HKc1pbeTkYcOeOkJc0?si=aab60a9ec2864ba2  Apple Podcasts: https://podcasts.apple.com/pl/podcast/innovantage-podcast/id1749330437  Follow for More Insightful Episodes Innovantage Podcast:  https://www.linkedin.com/company/innovantage-podcast/  Sigli:  https://www.linkedin.com/company/sigli/      Instagram:  https://www.instagram.com/sigli.gang  Did something surprise you in this conversation? Drop a comment below — we read every single one. Subscribe so you don't miss the next episode of Innovantage Podcast.