Portuguese surveillance drone maker Tekever raised $580M ed by UC Investments at a $6.4B valuation, after securing a UK MOD contract worth £400M over 10 years (Henrique Almeida/Bloomberg)
Tekever, a Portuguese developer of surveillance drones, is seeking acquisitions after the first close of a funding round that targets raising $580 million.
TEKEVER, an AI-powered autonomous systems provider founded in Portugal, has successfully closed a $580 million Series D financing round, placing the company at a valuation of $6.4 billion. TEKEVER specializes in building and deploying AI-enabled autonomous drones (UAS) and associated software/intelligence systems for both military and civilian surveillance missions such as battlefield intelligence, maritime patrol, border surveillance, search and rescue, and illegal activity monitoring at sea.
The company's main aircraft include the AR3/AR3 EVO, a smaller, highly modular drone, and the larger AR5, which can fly for up to 20 hours and carry up to 50 kg of payload. Key investors in TEKEVER's Series D round include UC Investments (first direct European investment), Baillie Gifford, Merlyn Advisors, Crescent Cove, Ventura Capital, and Iberis Capital.
UC Investments' involvement marks its first direct investment in Europe, with co-founder and chief investment officer Jagdeep Singh Bachher praising TEKEVER's technical depth and execution capabilities. The additional investors reaffirm their confidence in TEKEVER's technology, team, and long-term vision. TEKEVER's CORVUS project, selected by the UK Ministry of Defence for the British Army's new surveillance capability, further illustrates the company's growth potential and strategic position in Europe's sovereign defence technology landscape.
Written by urgent.news from Tech.eu's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
