Money for the war: Ukrainian drone manufacturer Uforce raises millions
The Ukraine war has not only changed warfare, but also its financing. Western donors are investing almost directly in the conflict through a Ukrainian military start-up.
UForce, a Ukrainian-British defence start-up, has secured $700 million in funding from Western investors to expand its drone production. The investors include the UK's National Wealth Fund, the US-Ukrainian Reconstruction Fund, and Lakestar, a Swiss venture capital firm founded by German entrepreneur Klaus Hommels. UForce produces air, sea, and land drones, which have reportedly completed 330,000 missions in the Ukraine war.
The company plans to increase production capacities in the US, Europe, the Asia-Pacific region, and the Middle East.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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