Tekever hits $6.4 billion valuation with $580 million Series D raise

Portuguese-founded, British-headquartered defense technology company Tekever has raised $580 million in the first close of a Series D round, valuing it at $6.4 billion. UC Investments and Baillie Gifford led the financing, with Merlyn Advisors and existing investors Crescent Cove, Ventura Capital and Iberis Capital also participating; additional closings are expected. Tekever plans to use the funds to expand internationally, increase manufacturing and technology capacity, pursue acquisitions and accelerate its AI-powered autonomous systems. The company’s drones and integrated software have logged more than 50,000 operational flight hours in Ukraine since 2022, helping it secure a British Army surveillance program worth up to £400 million over 10 years. The fundraising reflects surging European defense investment and growing demand for domestically developed autonomous surveillance and intelligence systems.