Tekever

Defense Tech · Drones · AI

Funding

Tekever raises $580M Series D at $6.4B valuation for AI drones

The Portuguese defense startup's valuation nearly quintupled in a year as Europe funnels billions into homegrown military autonomy.

• Tekever closed the first tranche of a $580 million Series D, valuing the AI drone maker at $6.4 billion, led by UC Investments and Baillie Gifford.
• The Portuguese-founded, UK-headquartered company builds autonomous surveillance drones paired with AI-driven data processing and ground-control software for military and civilian intelligence missions.
• UC Investments' stake marks the University of California's first-ever direct investment in a European company; the round remains open for additional closings.
• Tekever's drones have logged more than 50,000 operational flight hours in Ukraine since Russia's 2022 invasion began.
• The round follows Tekever's selection for the UK Ministry of Defence's CORVUS surveillance program, worth up to £400 million over 10 years.
• CEO Ricardo Mendes said the capital will fund international expansion, manufacturing scale-up, and acquisitions as he expects heavy consolidation in defense tech.
• Tekever's leap from a $1.32 billion valuation just over a year ago to $6.4 billion signals how fast institutional capital is flowing into Europe's rearmament push.