Latvian company SIA “Ammunity” — the country’s leading manufacturer of high-precision small-caliber ammunition — has secured €6.3 million in funding from BluOr Bank to support its ongoing development and expansion of production capacity. The funding will be used both to refinance existing liabilities and to strengthen the company’s working capital, enabling a faster response to rapidly growing demand for defense-related products.
A key component of the transaction is a guarantee provided by the Latvian development finance institution ALTUM. This support structure allows for more effective risk-sharing between the parties and promotes the growth of Latvia’s strategically important — though still emerging — defense industry.
Ammunity is currently the only manufacturer of high-precision small-caliber ammunition in Latvia. With over ten years of successful operation in the defense sector, the company also owns a ballistic testing laboratory and maintains specialized infrastructure for storing strategic materials.
In 2024, the company’s turnover reached €9.33 million — an increase of 80.6% compared to the previous year. For 2025, Ammunity projects revenue to exceed €14 million. The newly secured funding will enable the company to further expand production volumes, implement technological innovations, and enhance its quality control systems.