Tekever Closes $580m Series D at $6.4bn Valuation, Plans Acquisitions
Drone maker Tekever has closed the first part of a $580m Series D round at an impressive $6.4bn valuation. UC Investments and Baillie Gifford led this investment.
Ricardo Mendes, Tekever's CEO, revealed in an interview with Bloomberg Television that the fundraising is primarily intended for acquisitions as well as funding new technology development within the defence market, which he anticipates will consolidate in the coming years.
The same day, Tekever announced the first close of its Series D round. The investment from UC Investments, Baillie Gifford, Merlyn Advisors (with portfolio manager Sir Ben Wallace), Crescent Cove, Ventura Capital, and Iberis Capital values the company at $6.4bn.
Tekever intends to use the funds for international expansion, manufacturing and technology capacity, strategic acquisitions, and accelerating its AI-powered autonomous systems development. Mendes noted that Tekever employs over 1,500 people across various countries, including the UK and France, and plans to leverage its existing operations to integrate acquired technologies and companies.
This recent funding follows Tekever's £1bn valuation in May 2025 and its selection by the UK Ministry of Defence to deliver Corvus, the British Army’s new surveillance capability worth up to £400m over ten years.
The series D round highlights the rapid growth and increasing value of Europe's drone manufacturing sector, driven largely by government demand for advanced military capabilities.