Tekever Raises $580 Million To Build More AI Drones For Defense
Tekever builds big, smart, AI-powered drones that can fly by themselves for up to 20 hours and spy out zones. They are used by armies and governments. Now, to build The post Tekever Raises $580 Million To Build More AI Drones For Defense appeared first on Ventureburn .
Tekever, a company that builds advanced AI-powered drones, has secured $580 million in its first close Series D funding round. This brings Tekever's total funding to $1.25 billion, and has brought the company's valuation to $6.4 billion. The investors in this round include UK investment firm Baillie Gifford, UC Investments, which is managing pensions for the University of California system, and other investors like Merlyn Advisors, Crescent Cove, Ventura Capital and Iberis Capital.
Since Russia invaded Ukraine in 2022, Tekever's drones have logged over 50,000 hours of combat missions, being used for intelligence, surveillance, and reconnaissance. Reports suggest their AR3 and AR5 drones have caused billions of dollars worth of damage to Russian equipment.
The drone company has designed two main models: the AR3 and AR3 EVO, which are smaller and more modular, and the AR5, which can carry up to 50kg and fly for up to 20 hours. These drones have been instrumental in earning Tekever big government contracts, like a surveillance system for the UK Ministry of Defence.
The $580 million raised will be used to expand internationally, build more factories, acquire other companies, and enhance their AI and autonomous systems. Europe's increasing defense budgets and the need for innovative defense technology are expected to drive demand for Tekever's products.
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