Czech billionaire Michal Strnad backs Canadian anti-drone startup

The Czech industrial technology group CSG, led by Michal Strnad, has invested in the Canadian defence startup North Vector Dynamics (NVD), which is developing low-cost air-defence missile systems and hypersonic technology. The company is already valued at more than $90 million (about 1.9 billion crowns).

NVD's idea is simple yet revolutionary: modern warfare increasingly relies on cheap drones costing thousands of dollars, which then have to be shot down with missiles costing millions. A single Patriot interceptor costs around $4 million, a THAAD missile up to $15 million, while an Iranian Shahed drone costs $20,000–50,000. The Canadians have developed the CM-70 Spear system, estimated to cost around $10,000 per interceptor — hundreds of times cheaper than traditional solutions.

Michal Strnad, CEO and chairman of CSG's board, explains the interest this way: “The nature of modern conflicts is changing rapidly. Autonomous systems, artificial intelligence, advanced sensors, precision guidance and cost-effective air defence are all becoming increasingly important.” According to him, CSG wants to become not just an investor but a long-term strategic partner for NVD.

Besides capital, Strnad is offering the Canadian startup CSG's industrial know-how, production capacity and sales network in Ukraine, NATO countries and other allied states. The group is also considering integrating NVD's technology into its own weapons systems. The size of the investment and the stake acquired have not been disclosed by either side.

This is not CSG's first move into the project: back in May, the venture fund Tech Horizons, whose main partner is also Strnad's group, invested in NVD. In this way, the Czech businessman is building an entire ecosystem around the promising Canadian developer, founded in 2022 by a team of former aerospace engineering professors with experience working for NASA.

By the Around Prague newsroom