AI drone manufacturer Tekever has reached a $6.4 billion valuation after raising $580 million as European countries increase defense spending amid the Ukraine war, according to the company.
The Portuguese-British firm develops autonomous systems, including surveillance drones, and says its technology has completed more than 50,000 operational flight hours in Ukraine since Russia’s full-scale invasion began in 2022.
University of California Investments and Baillie Gifford led the latest funding round, joined by several other investors. Tekever plans to use the capital to expand internationally, strengthen manufacturing and technology capabilities, and pursue acquisitions.
Tekever CEO Ricardo Mendes said AI, autonomy and domestic technological capabilities will become increasingly important to national security.
The fundraising reflects broader investment in European defense technology. Other firms, including Helsing, Quantum Systems, Cambridge Aerospace and Stark, have recently secured major funding rounds as governments accelerate military modernization.
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AI drone maker hits $6.4 billion valuation as Ukraine war spurs defense tech https://t.co/X7yKXMGI0K
— CNBC (@CNBC) September 23, 2026
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