UFORCE raises $700 mln at $6 bln valuation
Ukrainian-founded defense technology company UFORCE has closed a Series A funding round, raising $700 million at a valuation of $6 billion, according to a company press release.
Ukrainian defense tech firm UFORCE has successfully raised $700 million in a Series A funding round, bringing its valuation to $6 billion, as announced by the company. The investment round was spearheaded by Valor Equity Partners and the UK National Wealth Fund, with involvement from the US-Ukraine Reconstruction Investment Fund (URIF), Menlo Ventures, Xantium, Hiro Capital, Shield Capital, Ballistic Ventures, Lakestar, and Squadra.
Existing investors such as Shield Capital, Ballistic Ventures, Lakestar, and Squadra also bolstered their stakes in the company. The capital will be utilized for expanding production in Ukraine and allied nations, bolstering partnerships, and enhancing defense capabilities worldwide. UFORCE intends to augment its workforce, bolster research and development, launch new products, and distribute production across the United States, Europe, Asia-Pacific, and the Middle East.
The company aims to produce Magura maritime drones, Nemesis UAVs, Liut unmanned ground platforms, and its Predator line of combat modules. CEO Oleg Rogynskyi highlighted that the investment will enable UFORCE to scale production for Ukraine and provide allies with deployable, integrated, and maintainable systems. The deal marks URIF's largest investment in the advanced technology sector thus far, contributing to Ukraine's economic resilience and security, and accelerating its recovery, as stated by DFC investment director Conor Coleman.
UFORCE's inclusion on NATO's EU-Ukraine Drone Alliance and its involvement in NATO and the Joint Expeditionary Force will also be strengthened by the funding. General Christopher G. Cavoli, a former NATO Supreme Allied Commander Europe and partner at Valor Equity Partners, has joined UFORCE's board of directors. The company specializes in autonomous uncrewed platforms for maritime, land, and air operations, artificial intelligence software, and command-and-control systems, with the objective of making defense 100 times cheaper than offensive operations.
UFORCE's headquarters is in London, with major operating centers in Kyiv and Washington, and a global presence in Europe, the United States, and Asia.
Written by urgent.news from Interfax-Ukraine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
