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BusinessActive · 18h

Tekever raises $580M Series D, hits $6.4B valuation after UK drone deal

Portuguese AI drone maker closes first tranche of a $580M round and is now hunting for acquisitions.

newest coverage 13h agosummary written 16h ago17 pieces8 likes & upvotes NewswiresMastodonReddit

What to know

  • Tekever closed the first tranche of a $580M Series D at a $6.4B valuation, led by UC Investments and Baillie Gifford, with UC Investments making its first direct European investment.
  • The raise follows Tekever's selection for the UK MoD's CORVUS programme, worth up to £400 million over ten years, built on its AR5 drone system.
  • Tekever is now seeking acquisitions and expects further closings of the Series D round in coming months.
  • The deal is part of a broader wave of large funding rounds for European defense-tech startups amid the war in Ukraine and regional rearmament.

Ricardo Mendes Founder and CEO of TekeverJagdeep Singh Bachher Chief investment officer, University of California (UC Investments)UC Investments Lead investor in the Series D roundUK Ministry of Defence Customer awarding the CORVUS contract

Tekever raises $580M Series D, hits $6.4B valuation after UK drone deal
tech.eu

How it unfolded 2 developments, newest first · click a bar or a number to jump articlesposts

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  1. 2

    Tekever closes first tranche of $580M round at $6.4B valuation

    Tekever announced the first close of its $580 million Series D financing, led by UC Investments (its first direct European investment) and Baillie Gifford, with Merlyn Advisors joining as a new strategic investor alongside existing backers Crescent Cove, Ventura Capital and Iberis Capital.

    “This investment gives us the resources to move faster, scale further and continue building a global technology leader from Europe.”
    — Ricardo Mendes

    • TEKEVER, a Portuguese defence startup, has raised 580M USD in Series D funding at a 6.4B SGD valuation. The company builds AI-powered autonomous drones used for military and civilian surveillance. UC Investments and Baillie Gifford led the round. https:// tech.eu/2026/09/23/tekever-rai ses-580m-series-d-at-6-4b-valuation/ # Tech # Startup # News #…

      startups@vivaldi.netMastodon17h ago5▲view on Mastodon ↗
  2. 1

    Tekever says it will pursue acquisitions after the raise

    Bloomberg reported that Tekever is seeking acquisition targets after the first close of the funding round, as the company expects to complete additional closings of the Series D in coming months.

    1. 1 outlet Drone Maker Tekever Seeks Deals After New Round’s First Close

      first by Bloomberg Tech, 18h ago

  3. background

    UK MoD picks Tekever for £400M CORVUS drone contract — The British Army selected Tekever to deliver CORVUS, its new surveillance capability built on Tekever's AR5 system, under a programme worth up to £400 million over ten years.

Also covered reported alongside — the timeline has no entry for these yet

  1. 3 outlets Tekever Raises $580 Million To Build More AI Drones For Defense

    first by Ventureburn, 16h ago · also Reuters, Quartz

    2 more headlines
  2. 3 outlets Tekever nearly quintuples valuation to $6.4B with $580M round, fresh off £400M UK drone deal

    first by Tech Funding News, 16h ago · also Resilience Media, Bloomberg

    2 more headlines

and 3 smaller pieces