The Portuguese-British manufacturer of autonomous drones is supported by UC Investments and Baillie Gifford. Its aircraft have accumulated more than 50,000 flight hours in Ukraine.
Tekever announced on September 23 the first closing of a $580 million Series D, which values the Portuguese-British autonomous drone maker at $6.4 billion. The round is led by UC Investments, the investment arm of the University of California — its first direct investment in Europe — alongside Baillie Gifford. Merlyn Advisors is taking a stake in the capital, while Crescent Cove, Ventura Capital and Iberis Capital are putting in the pot.
The company intends to use these funds to expand its international presence, strengthen its industrial and technological capabilities, and carry out acquisitions. Further closings are expected in the coming months to bring in new strategic investors.
Operational references weigh heavily in this valuation: Tekever's aircraft have accumulated more than 50,000 flight hours in Ukrainian operations since the start of the Russian invasion in 2022, and the company has won a contract of up to £400 million to replace the British Army's Watchkeeper drones.
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