Performance Drone Works Raises $110 Million to Expand Modular Military Drone Production

Performance Drone Works (PDW) has secured $110 million in Series B funding led by Ondas to enhance its product offerings and increase production of modular military drones. The funding will support engineering capabilities and manufacturing capacity, emphasizing domestic production and supply chain resilience. Investors included Hood River, Cedar Pine, and Booz Allen Hamilton. PDW, founded by veterans and drone engineers, aims to meet growing defense demands and ensure mission-ready UAS technology.

Published Mar 27, 2026

Performance Drone Works (PDW) has raised $110 million in a Series B funding round to expand its product offerings and increase production of modular military drones. Led by Ondas, the round included investors such as Hood River, Cedar Pine, and Booz Allen Hamilton.

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The capital will enhance engineering capabilities and manufacturing capacity, focusing on domestic production and supply chain resilience. Founded by veterans and drone engineers, PDW aims to address growing defense demands for mission-ready unmanned systems. Houlihan Lokey acted as the exclusive financial advisor for the transaction.