Greek company EFA Group raises €80 million in new funding to support international growth.

EFA Group confirmed an €80 million share capital increase and a restructuring of its operating model, bringing in Motor Oil Group and EOS Capital Partners as institutional investors.

EFA Group announced on December 16, 2025, an €80 million share capital increase and a reorganization of its activities. The transaction introduces Motor Oil Group, through Ireon Ventures, and EOS Capital Partners, through EOS Hellenic Renaissance Fund II, as new shareholders. The company stated that the increase will support medium- and long-term growth in defense, security, and dual-use technologies in Greece and international markets.
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From left to right: Christian Hadjiminas, Founder of EFA Group; Nicholas Chryssanthopoulos, Senior Partner at EOS Capital Partners; Grigorios Koutsogiannis, CEO of EFA Group; and Nikos Giannakakis, CIO of Motor Oil Group, during the announcement of EFA Group’s €80 million share capital increase in Athens on December 16, 2025. (Picture source: EFA Group)

EFA Group announced on December 16, 2025, in Athens, a major change in its ownership structure and capital base, combining a significant share capital increase with a broader reorganization of its activities. The Group confirmed an €80 million share capital increase that brings in Motor Oil Group through its subsidiary Ireon Ventures and EOS Capital Partners through its 2nd Growth Fund, EOS Hellenic Renaissance Fund II. According to EFA Group, the increase is covered by a mix of participation from existing shareholders and new investors, reflecting a coordinated transaction rather than a partial or isolated entry. The Group directly linked this step to the involvement of institutional funds and to follow-on investments expected to support medium- and long-term expansion. It described the transaction as the starting point of a new growth phase rather than a standalone financial operation. This shift is paired with a structural reorganization intended to support scaling in defense and dual-use technology markets. EFA Group framed the move as both a financial and industrial repositioning aimed at international competition.

At the core of the reorganization is the creation of four Technology Clusters that bring together 13 specialized companies under a single operational framework. EFA Group stated that the objective of this structure is to function as a one-stop shop for Integrated Solutions and Services, covering a wide range of defense and security needs. The group said this approach is designed to deliver comprehensive and competitive solutions to the Hellenic Armed Forces while also targeting international customers. Growth is defined through extensive industrialization and full internationalization, with Greece retained as the central base for development, production, and coordination. EFA Group emphasized that the cluster model is intended to improve efficiency, integration, and export readiness. It also positioned the structure as a contribution to the broader revitalization of the Greek defense industry. The Group explicitly linked this ambition to activity in European and NATO markets.

The Unmanned and Autonomous Solutions Cluster brings together Ucandrone, which focuses on unmanned systems, and Aether Aeronautics, which specializes in aerial targets. This cluster is led by Mr. Nikos Kalogiannis and is intended to cover both operational platforms and supporting technologies related to autonomous systems. A second and larger cluster, Mission Systems, Simulation and Training, is led by Mr. George Menexis and includes several companies with complementary roles. These include Scytalys for defense software design and development, Sthenos AI for artificial intelligence solutions, and Thyreos Cyber for cybersecurity focused on defense applications. The cluster also integrates Acromove for defense and security computing systems manufacturing and Scywave for wireless communication systems manufacturing. Wayren contributes military-application software development, while Realiscape provides simulation software for systems, tactical training, and synthetic visualization. The EFA Group described this cluster as covering a broad spectrum from software to hardware and training environments.

The Integrated Services Cluster combines EFA Ventures, which provides integrated solutions and services, with Aerospace Ventures, a consulting firm specializing in industrial and technological cooperation in aerospace and security. It also includes Epicos, which EFA Group described as a global B2B defense information platform. This cluster is also led by Mr. Nikos Kalogiannis and is positioned as the interface between technological capabilities and customer requirements. EFA Group stated that this cluster is expected to expand in the future into Maintenance, Repair, and Overhaul services for aerial platforms, indicating a move toward lifecycle support activities. The fourth cluster, Sensors and Targeting, is led by Mr. Christos Grympogiannis and currently includes ES Systems, which focuses on sensor and IoT design. EFA Group said this cluster is planned to expand into Electronic Warfare, radar, and space-related activities. Together, the four clusters are presented as the structural backbone of the Group’s future development.

Infrastructure development is another pillar of the strategy, centered on the planned inauguration of the EFA Group Antikythera Tech Campus within the second four-month segment of 2026. EFA Group described the campus as a state-of-the-art industrial complex located in Koropi, in the Athens area, and stated that it is already fully operational. The site is intended to host a comprehensive ecosystem of activities related to Electronic Warfare, satellite systems, software development, and unmanned aerial vehicles. According to the Group, the campus is designed to support both current operations and future expansion across multiple technology domains. It is presented as a physical hub that brings together research, development, and industrial capabilities. EFA Group linked the campus to its broader ambition to strengthen domestic industrial capacity while supporting international partnerships. The project is positioned as part of a long-term industrial footprint rather than a short-term facility investment.

In statements attributed to management, founder Christian Hadjiminas connected the strategy to the development of advanced systems intended to meet demanding operational needs in international markets. He emphasized the combination of Greek expertise with targeted international investments and strategic partnerships as a central element of the plan. He also called for a more collaborative Greek defense industry, arguing for a move away from what he described as outdated rivalries and obsolete practices. According to him, cooperation among companies is necessary to develop integrated products and strengthen the international presence of Greek defense capabilities, while aligning with broader technological shifts associated with the Fourth Industrial Revolution. CEO Dr. Grigoris Koutsogiannis described global expansion as a central objective and identified Europe, Asia, the Middle East, and the Americas as priority regions. He also linked the strategy to opportunities for young scientists in Greece and abroad to participate in reindustrialization efforts.

The incoming investors framed their participation as long-term and strategic rather than purely financial. Motor Oil Group CIO Nikos Giannakakis linked the investment to broader needs in technology, cybersecurity, and resilience amid increasing complexity and digitalization. He referred to Motor Oil Group’s ongoing investments in digital solutions, data, and systems that support decision-making and the secure operation of critical infrastructure, and connected these priorities to cooperation with EFA Group. EOS Capital Partners Senior Partner Nicholas Chryssanthopoulos described the investment as confidence in an outward-looking Greek group, citing the founder’s vision, the management team, and the shareholder base. He stated that EOS intends to work with the new partners toward shared objectives. In terms of scale, EFA Group said it employs more than 250 professionals, mainly engineers and scientists, operates six offices worldwide in Greece, Cyprus, Switzerland, the USA, Singapore, and the United Arab Emirates, and serves clients in 40 countries, positioning the Group as an internationally active Greek defense and technology company.

Written by Jérôme Brahy

Jérôme Brahy is a defense analyst and documentalist at Army Recognition. He specializes in naval modernization, aviation, drones, armored vehicles, and artillery, with a focus on strategic developments in the United States, China, Ukraine, Russia, Türkiye, and Belgium. His analyses go beyond the facts, providing context, identifying key actors, and explaining why defense news matters on a global scale.