Exail's sea drones boost its stock by 700% since 2024
Exail Technologies, based in Paris, has seen its shares rise more than 700% since mid-2024, all thanks to its mine-hunting sea drones.
The big boost came after Iran threatened to mine the Strait of Hormuz, making Exail's tech suddenly very popular.
CEO Raphael Gorge says buyers are lining up, especially as Europe spends more on defense since Russia's 2022 invasion of Ukraine.
Exail's rise shows smaller European defense companies getting noticed
The Gorge family now holds about $1 billion from its 41% stake as Exail's market value passed €2.5 billion. Its smart move to buy iXblue in 2022 helped profits soar even higher.
Exail's rise also shows how smaller European defense companies are getting noticed for their focus on autonomous weapons, plus they received a €400 million order in early 2025 for mine-hunting drones from an unnamed navy.