Orqa valuation, funding and investors
Orqa works in FPV and RR technology development, based in Osijek, Croatia. Founded in 2018, it has about 171 employees.
- Last round
- Series A · $14.8M · Mar 2026
- Valuation at last round
- $75.8M · implied
- Headcount
- 174 · growing
- Grade
- C
- Founded
- 2018
Orqa valuation today
VCMC values Orqa at $113M today, with a range of $56.3M to $204M and a grade of C. The valuation starts from its last funding round, a Series A round in Mar 2026.
Valuation by date (110 rows)
Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.
| Date | Valuation | Range | Predicted in 1 yr | Phase | Headcount | Trend | Grade | Winding-down probability |
|---|---|---|---|---|---|---|---|---|
| 1 Jan 2018 | $6.03M | $2.19M – $16.6M | $8.26M (+37%) | before first round | – | unknown | D | 0% |
| 1 Feb 2018 | $6.19M | $2.25M – $17.0M | $8.49M (+37%) | before first round | – | unknown | D | 0% |
| 1 Mar 2018 | $6.34M | $2.31M – $17.4M | $8.70M (+37%) | before first round | – | unknown | D | 0% |
| 1 Apr 2018 | $6.52M | $2.37M – $17.9M | $8.93M (+37%) | before first round | – | unknown | D | 0% |
| 1 May 2018 | $6.69M | $2.43M – $18.4M | $9.17M (+37%) | before first round | – | unknown | D | 0% |
| 1 Jun 2018 | $6.87M | $2.50M – $18.9M | $9.42M (+37%) | before first round | – | unknown | D | 0% |
| 1 Jul 2018 | $7.05M | $2.57M – $19.4M | $9.66M (+37%) | before first round | – | unknown | D | 0% |
| 1 Aug 2018 | $7.24M | $2.64M – $19.9M | $9.76M (+35%) | before first round | – | unknown | D | 0% |
| 1 Sep 2018 | $7.44M | $2.71M – $20.4M | $9.85M (+32%) | before first round | – | unknown | D | 0% |
| 1 Oct 2018 | $7.63M | $2.78M – $21.0M | $9.94M (+30%) | before first round | – | unknown | D | 0% |
| 1 Nov 2018 | $7.84M | $2.85M – $21.5M | $10.0M (+28%) | before first round | – | unknown | D | 0% |
| 1 Dec 2018 | $8.04M | $2.93M – $22.1M | $10.1M (+26%) | before first round | – | unknown | D | 0% |
| 1 Jan 2019 | $8.26M | $3.01M – $22.7M | $10.2M (+24%) | before first round | – | unknown | D | 0% |
| 1 Feb 2019 | $8.49M | $3.09M – $23.3M | $10.3M (+21%) | before first round | – | unknown | D | 0% |
| 1 Mar 2019 | $8.70M | $3.17M – $23.9M | $10.4M (+19%) | before first round | – | unknown | D | 0% |
| 1 Apr 2019 | $8.93M | $3.25M – $24.5M | $10.5M (+17%) | before first round | – | unknown | D | 0% |
| 1 May 2019 | $9.17M | $3.34M – $25.2M | $10.6M (+15%) | before first round | – | unknown | D | 0% |
| 1 Jun 2019 | $9.42M | $3.43M – $25.9M | $10.7M (+13%) | before first round | – | unknown | D | 0% |
| 1 Jul 2019 | $9.66M | $3.52M – $26.5M | $10.8M (+11%) | before first round | – | unknown | D | 0% |
| 1 Aug 2019 | $9.76M | $3.55M – $26.8M | $10.9M (+11%) | before first round | – | unknown | D | 0% |
| 1 Sep 2019 | $9.85M | $3.59M – $27.1M | $11.0M (+11%) | before first round | – | unknown | D | 0% |
| 1 Oct 2019 | $9.94M | $3.62M – $27.3M | $11.1M (+11%) | before first round | – | unknown | D | 0% |
| 1 Nov 2019 | $10.0M | $3.65M – $27.5M | $11.2M (+11%) | before first round | – | unknown | D | 0% |
| 1 Dec 2019 | $10.1M | $3.68M – $27.8M | $11.3M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jan 2020 | $10.2M | $3.72M – $28.1M | $11.4M (+11%) | before first round | – | unknown | D | 0% |
| 1 Feb 2020 | $10.3M | $3.75M – $28.3M | $11.5M (+11%) | before first round | – | unknown | D | 0% |
| 1 Mar 2020 | $10.4M | $3.78M – $28.6M | $11.6M (+11%) | before first round | – | unknown | D | 0% |
| 1 Apr 2020 | $10.5M | $3.82M – $28.8M | $11.7M (+11%) | before first round | – | unknown | D | 0% |
| 1 May 2020 | $10.6M | $3.85M – $29.1M | $11.8M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jun 2020 | $10.7M | $3.89M – $29.3M | $11.9M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jul 2020 | $10.8M | $3.92M – $29.6M | $12.0M (+11%) | before first round | – | unknown | D | 0% |
| 1 Aug 2020 | $10.9M | $3.96M – $29.9M | $12.1M (+11%) | before first round | – | unknown | D | 0% |
| 1 Sep 2020 | $11.0M | $3.99M – $30.1M | $12.2M (+11%) | before first round | – | unknown | D | 0% |
| 1 Oct 2020 | $11.1M | $4.03M – $30.4M | $12.3M (+11%) | before first round | – | unknown | D | 0% |
| 1 Nov 2020 | $11.2M | $4.07M – $30.7M | $12.4M (+11%) | before first round | – | unknown | D | 0% |
| 1 Dec 2020 | $11.3M | $4.10M – $31.0M | $12.6M (+11%) | before first round | – | unknown | D | 0% |
| 1 Jan 2021 | $13.0M | $4.72M – $35.6M | $14.4M (+11%) | before first round | 36 | unknown | D | 0% |
| 1 Feb 2021 | $13.1M | $4.76M – $35.9M | $14.5M (+11%) | before first round | 36 | unknown | D | 0% |
| 24 Feb 2021 | $8.69M | $5.70M – $26.4M | $17.3M (+100%) | after a round | 36 | unknown | C | 0% |
| 1 Mar 2021 | $8.77M | $5.70M – $26.4M | $17.3M (+98%) | after a round | 36 | unknown | C | 0% |
| 1 Apr 2021 | $9.30M | $5.70M – $26.4M | $17.3M (+86%) | after a round | 36 | flat | C | 0% |
| 1 May 2021 | $9.85M | $5.70M – $26.4M | $17.3M (+76%) | after a round | 36 | flat | C | 0% |
| 1 Jun 2021 | $10.4M | $5.70M – $26.4M | $17.3M (+66%) | after a round | 36 | flat | C | 0% |
| 1 Jul 2021 | $11.1M | $5.70M – $26.4M | $17.3M (+57%) | after a round | 36 | flat | C | 0% |
| 1 Aug 2021 | $11.7M | $5.70M – $26.4M | $17.3M (+48%) | after a round | 36 | flat | C | 0% |
| 1 Sep 2021 | $12.4M | $5.70M – $26.4M | $17.3M (+39%) | after a round | 36 | flat | C | 0% |
| 1 Oct 2021 | $13.2M | $5.70M – $26.4M | $17.3M (+32%) | after a round | 36 | flat | C | 0% |
| 1 Nov 2021 | $14.0M | $5.70M – $26.4M | $17.3M (+24%) | after a round | 36 | flat | C | 0% |
| 1 Dec 2021 | $14.8M | $5.70M – $26.4M | $17.3M (+17%) | after a round | 36 | flat | C | 0% |
| 1 Jan 2022 | $15.7M | $5.70M – $26.4M | $17.3M (+11%) | after a round | 36 | flat | C | 0% |
| 1 Feb 2022 | $18.0M | $6.20M – $28.7M | $18.9M (+5%) | after a round | 53 | growing | C | 0% |
| 1 Mar 2022 | $18.9M | $6.21M – $28.7M | $18.9M (0%) | after a round | 53 | growing | C | 0% |
| 1 Apr 2022 | $18.9M | $6.23M – $28.7M | $18.9M (0%) | after a round | 53 | growing | C | 0% |
| 1 May 2022 | $18.9M | $6.26M – $28.7M | $18.9M (0%) | after a round | 53 | growing | C | 0% |
| 1 Jun 2022 | $18.9M | $6.29M – $28.7M | $18.9M (0%) | after a round | 53 | growing | C | 0% |
| 1 Jul 2022 | $18.9M | $6.32M – $28.7M | $18.9M (0%) | after a round | 53 | growing | C | 0% |
| 1 Aug 2022 | $18.9M | $6.34M – $28.7M | $18.9M (0%) | after a round | 53 | growing | C | 0% |
| 1 Sep 2022 | $18.9M | $6.37M – $28.7M | $18.9M (0%) | after a round | 53 | growing | C | 0% |
| 1 Oct 2022 | $18.9M | $6.40M – $28.7M | $18.9M (0%) | after a round | 53 | growing | C | 0% |
| 1 Nov 2022 | $18.9M | $4.11M – $28.7M | $18.9M (0%) | after a round | 53 | unknown | C | 0% |
| 1 Dec 2022 | $18.9M | $3.91M – $28.7M | $18.9M (0%) | after a round | 53 | unknown | C | 0% |
| 1 Jan 2023 | $19.3M | $3.79M – $29.3M | $19.3M (0%) | after a round | 58 | flat | D | 0% |
| 1 Feb 2023 | $19.3M | $3.60M – $29.3M | $19.3M (0%) | after a round | 58 | flat | D | 0% |
| 1 Mar 2023 | $19.3M | $3.44M – $29.3M | $19.2M (0%) | after a round | 58 | flat | D | 0% |
| 1 Apr 2023 | $19.3M | $3.27M – $29.3M | $19.1M (-1%) | after a round | 58 | flat | D | 0% |
| 1 May 2023 | $19.3M | $3.11M – $29.3M | $19.0M (-1%) | after a round | 58 | flat | D | 0% |
| 1 Jun 2023 | $19.3M | $2.96M – $29.3M | $18.9M (-2%) | after a round | 58 | flat | D | 0% |
| 1 Jul 2023 | $19.3M | $2.82M – $29.3M | $18.8M (-2%) | after a round | 58 | flat | D | 0% |
| 1 Aug 2023 | $19.3M | $2.68M – $29.3M | $18.7M (-3%) | after a round | 58 | flat | D | 0% |
| 1 Sep 2023 | $19.3M | $2.54M – $29.3M | $19.3M (0%) | after a round | 58 | unknown | D | 0% |
| 1 Oct 2023 | $19.5M | $2.45M – $29.6M | $18.5M (-5%) | after a round | 61 | flat | D | 0% |
| 1 Nov 2023 | $19.5M | $2.33M – $29.6M | $18.4M (-6%) | after a round | 61 | flat | D | 0% |
| 1 Dec 2023 | $19.5M | $2.21M – $29.6M | $18.3M (-6%) | after a round | 61 | flat | D | 0% |
| 1 Jan 2024 | $19.5M | $2.10M – $29.6M | $18.1M (-7%) | after a round | 61 | flat | D | 0% |
| 1 Feb 2024 | $19.9M | $2.39M – $30.3M | $18.9M (-5%) | after a round | 67 | up | D | 0% |
| 1 Mar 2024 | $20.0M | $2.33M – $30.5M | $19.1M (-4%) | after a round | 69 | up | D | 0% |
| 1 Apr 2024 | $19.9M | $2.22M – $30.3M | $19.0M (-4%) | after a round | 69 | up | D | 0% |
| 1 May 2024 | $19.8M | $2.13M – $30.2M | $19.0M (-4%) | after a round | 69 | up | D | 0% |
| 1 Jun 2024 | $19.8M | $2.03M – $30.1M | $18.9M (-4%) | after a round | 69 | up | D | 0% |
| 1 Jul 2024 | $19.9M | $1.95M – $30.3M | $19.4M (-3%) | after a round | 71 | up | D | 0% |
| 1 Aug 2024 | $19.8M | $1.87M – $30.1M | $18.9M (-5%) | after a round | 72 | up | D | 0% |
| 1 Sep 2024 | $19.7M | $1.79M – $30.0M | $18.8M (-5%) | after a round | 72 | up | D | 0% |
| 1 Oct 2024 | $19.6M | $1.71M – $29.9M | $18.7M (-5%) | after a round | 72 | up | D | 0% |
| 1 Nov 2024 | $20.2M | $1.66M – $30.7M | $19.7M (-3%) | after a round | 78 | up | D | 0% |
| 1 Dec 2024 | $20.1M | $1.59M – $30.7M | $19.6M (-3%) | after a round | 78 | up | D | 0% |
| 19 Dec 2024 | $37.4M | $24.5M – $114M | $74.6M (+100%) | after a round | 78 | up | C | 0% |
| 1 Jan 2025 | $38.3M | $24.5M – $114M | $74.6M (+95%) | after a round | 78 | up | C | 0% |
| 1 Feb 2025 | $40.6M | $24.5M – $114M | $74.6M (+84%) | after a round | 78 | up | C | 0% |
| 1 Mar 2025 | $42.9M | $24.5M – $114M | $74.6M (+74%) | after a round | 78 | up | C | 0% |
| 1 Apr 2025 | $45.4M | $24.5M – $114M | $74.6M (+64%) | after a round | 78 | up | C | 0% |
| 1 May 2025 | $48.1M | $24.5M – $114M | $74.6M (+55%) | after a round | 78 | up | C | 0% |
| 1 Jun 2025 | $51.0M | $24.5M – $114M | $74.6M (+46%) | after a round | 78 | up | C | 0% |
| 1 Jul 2025 | $54.0M | $24.5M – $114M | $74.6M (+38%) | after a round | 78 | up | C | 0% |
| 1 Aug 2025 | $60.0M | $26.4M – $122M | $80.5M (+34%) | after a round | 110 | growing | C | 0% |
| 1 Sep 2025 | $64.2M | $26.5M – $123M | $80.6M (+26%) | after a round | 111 | growing | C | 0% |
| 1 Oct 2025 | $68.4M | $26.5M – $123M | $80.6M (+18%) | after a round | 111 | growing | C | 0% |
| 1 Nov 2025 | $70.0M | $25.2M – $117M | $76.8M (+10%) | after a round | 89 | up | C | 0% |
| 1 Dec 2025 | $74.2M | $25.2M – $117M | $76.8M (+3%) | after a round | 89 | up | C | 0% |
| 1 Jan 2026 | $76.8M | $24.9M – $117M | $76.8M (0%) | after a round | 89 | up | C | 0% |
| 1 Feb 2026 | $76.8M | $24.2M – $117M | $76.8M (0%) | after a round | 89 | up | C | 0% |
| 1 Mar 2026 | $76.8M | $23.5M – $117M | $76.8M (0%) | after a round | 89 | up | C | 0% |
| 11 Mar 2026 | $76.0M | $53.4M – $194M | $137M (+80%) | after a round | 89 | up | C | 0% |
| 1 Apr 2026 | $78.6M | $53.4M – $194M | $137M (+74%) | after a round | 137 | growing | C | 0% |
| 1 May 2026 | $82.5M | $53.4M – $194M | $137M (+66%) | after a round | 137 | growing | C | 0% |
| 1 Jun 2026 | $86.9M | $53.9M – $196M | $138M (+59%) | after a round | 143 | up | C | 0% |
| 1 Jul 2026 | $91.2M | $53.9M – $196M | $138M (+51%) | after a round | 143 | up | C | 0% |
| 1 Aug 2026 | $96.0M | $53.9M – $196M | $138M (+44%) | after a round | 143 | up | C | 0% |
| 1 Sep 2026 | $101M | $53.9M – $196M | $138M (+36%) | after a round | 143 | up | C | 0% |
| 1 Oct 2026 | $109M | $56.3M – $204M | $144M (+32%) | after a round | 174 | growing | C | 0% |
| 24 Oct 2026 | $113M | $56.3M – $204M | $144M (+27%) | after a round | 174 | growing | C | 0% |
Key facts about Orqa
- Founded
- 2018
- Headquarters
- Osijek, Croatia
- Employees
- about 171 +57% in a year
- Total raised
- $23M
- Funding rounds
- 3
- Last round
- Series A Mar 2026
Orqa was founded in 2018 by Ivan Jelušić, Srđan Kovačević and Vlatko Matijević.
Orqa funding history
Orqa has 3 funding rounds on record, from Feb 2021 to Mar 2026, $23M in total. None disclosed a valuation.
Series A 10 Mar 2026
Led by Expeditions; with Lightspeed Venture Partners, Taiwania Capital, Aymo, Radius Capital Ventures.
Sources: f4.fund, therecursive.com, fod.ie and 1 more
$15M
Seed 18 Dec 2024
Led by Lightspeed Venture Partners; with Radius Capital Ventures, Decisive Point, Day One Capital.
Sources: bestinvest.hr, businesswire.com, finsmes.com and 1 more
$6.1M
Seed 23 Feb 2021
Led by Day One Capital.
$1.7M
Orqa investors
7 investors have backed Orqa; Day One Capital, Lightspeed Venture Partners and Expeditions led at least one round.
What Orqa does
Orqa works in aerospace and defence, with 13 recorded offerings and customers in aerospace and defense and consumer electronics.
Orqa d.o.o. is a Croatian company engaged in the development and manufacturing of FPV and Remote Reality (RR) applications, including FPV goggles, drones, electronics, batteries, chargers, accessories, and simulators. The company serves a global market and operates with a focus on sustainability, with all components designed and manufactured in-house. Orqa also develops enabling technology for vision systems and maintains a multidisciplinary team of engineers, physicists, and sales and marketing specialists.
Description from Veridion's company data.
Products and services
- FPV and RR Technology Development
- FPV Goggles Manufacturing
- Drone Manufacturing
- Electronics and Accessories Manufacturing
- Battery and Charger Manufacturing
- Simulator Development
- Antenna and Radio Controller Manufacturing
- Headset Manufacturing
- Low Latency Video Signal Transport System Development
- Vision System Enablement Technology Development
- Sustainable Product Manufacturing
- European-Made Product Manufacturing
- FPV Equipment Retail
Markets
- Aerospace and Defense
- Consumer Electronics
Technology
- Low Latency Video Signal Transport Systems
- Antennas for High-Performance Vision Systems
- Radio Controllers for Remote Reality Applications
- Headsets for FPV Goggles
Supply chain
- Localized Sourcing
- Sustainable Sourcing
Business model
- Business-to-Business
- Business-to-Consumer
- Manufacturing
- Retail
- E-commerce
Industry codes (NAICS)
- 334511 Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing 70% match
- 449210 Electronics and Appliance Retailers 30% match
Questions about Orqa
What is Orqa worth?
Valuation $113M (range $56.3M to $204M), as of 24 Oct 2026.
Has Orqa raised money?
Orqa has 3 funding rounds on record, from Feb 2021 to Mar 2026, $23M in total. None disclosed a valuation.
Who has invested in Orqa?
Day One Capital, Lightspeed Venture Partners, Expeditions, Radius Capital Ventures, Aymo and Decisive Point, and 1 more. Lead investors include Day One Capital, Lightspeed Venture Partners and Expeditions.
How many people work at Orqa?
About 171, up 57% over the last year. Headcount grew from 36 in Jan 2021 to 174 in Sep 2026.
What does Orqa do?
Orqa works in aerospace and defence, with 13 recorded offerings and customers in aerospace and defense and consumer electronics. Its main offerings are FPV and RR technology development, FPV goggles manufacturing and drone manufacturing.
When was Orqa founded, and where is it based?
Orqa was founded in 2018 and is based in Osijek, Croatia. It has about 171 employees, up 57% over the last year.