Musk Ally's Valor to Lead $500m Uforce (164news.com's guide to uforce) Round at $5bn, Bloomberg Reports
Uforce, a London-based drone company founded by nine Ukrainian battlefield manufacturers, is in advanced talks to raise approximately $500 million at a valuation of around $5 billion, according to Bloomberg. Valor Equity Partners, the Musk-affiliated firm run by Antonio Gracias, will lead this funding round.
Previously valued at just over $1 billion in March, Uforce's rapid growth has led to significant interest. If the current round closes as expected, Uforce's valuation would have increased dramatically in under six months.
Key Points:
- Valor Equity Partners, led by SpaceX board member Antonio Gracias, will be the primary investor.
- Uforce specializes in unmanned systems, including sea drones that have been instrumental in striking Russian warships in the Black Sea.
- The company's rapid growth and unique wartime experience make it a compelling prospect for NATO and European defense buyers looking to build drone arsenals.
About Uforce:
Uforce is not your typical startup; its roots lie in nine Ukrainian defense manufacturers who joined forces since Russia’s invasion. Its portfolio encompasses:
- Sea drones (Magura MV11) that have conducted successful strikes against Russian warships
- Nemesis strike drones
- Ground robots
- Counter-drone systems
Uforce's impressive combat record, boasting over 150,000 missions since 2022, is a significant selling point.
Leadership:
The company is led by Oleg Rogynskyy (CEO), who previously founded sales software company People.ai, and Oleksiy Honcharuk (Chairman and co-founder), Ukraine’s former Prime Minister. Former UK Defense Secretary Ben Wallace sits on Uforce's board.