UK fund puts £113 million into Ukrainian-founded Magura maker as it plans to spread production beyond Ukraine

The National Wealth Fund (NWF) of Britain has invested £113 million ($150 million) in UFORCE, a Ukrainian-founded company that manufactures Magura sea drones and is headquartered in London. UFORCE recently completed a $700 million Series A round of funding, led by the NWF and Valor Equity Partners, bringing the company's valuation to $6 billion. The investment is NWF's largest defense-related investment to date and highlights Britain's focus on security, resilience, and industrial growth within the country.

Under the deal, British suppliers will provide over 70% of each UK-built Magura MV-series boat, including the hulls, engines, electronics, and fit-out. UFORCE plans to hire more engineers, trainers, and production staff in the UK, resulting in hundreds of high-skilled jobs. The government also highlighted that the defense secretary, Wes Streeting, had piloted a UFORCE MV7 from HMS Prince of Wales in Norway while it sailed in the Atlantic near Portugal, demonstrating the vessel's capabilities.

UFORCE aims to expand its production across the US, Europe, Asia-Pacific, and the Middle East, ensuring that it can continue to supply front-line troops even amid ongoing attacks in Ukraine. The $113 million investment also supports continuous manufacturing in Ukraine and allied nations. UFORCE's CEO, Oleg Rogynskyy, emphasized that the investment will help scale production for Ukraine and provide solutions to allies that can be fielded, integrated, and sustained at the speed of modern combat.

In addition to the NWF investment, the US-Ukraine Reconstruction Investment Fund will back UFORCE's efforts in Ukraine, focusing on staffing, research, and development. This investment highlights Britain's commitment to supporting Ukraine's defense industry and strengthening its domestic supply chain.