TEKEVER Secures €70 Million for Strategic Growth in AI-driven UAS
TEKEVER, a leading European innovator in AI-driven unmanned aerial systems (UAS), has successfully secured €70 million too propel its next phase of growth.
Investment Focus on Research and Development
This funding will considerably enhance TEKEVER’s investment in research and development, aimed at fostering product innovation. The company plans to refine its existing offerings while also introducing new solutions to maintain its competitive edge in a rapidly changing technological habitat.Additionally, TEKEVER intends to broaden its global manufacturing, delivery, and support capabilities to satisfy the surging demand for its advanced products and services.
Key Investors and Strategic Partnerships
The funding round was spearheaded by Baillie Gifford, a prominent investment manager known for its early support of companies like Airbnb, Spotify, and SpaceX.Also participating was the NATO Innovation Fund (NIF), a dedicated venture capital initiative backed by 24 NATO member nations, which allocates €1 billion towards deep tech innovations that enhance defense, security, and resilience. Other notable contributors included the National Security Strategic Investment Fund (NSSIF),a UK government-owned entity focused on advancing technologies pertinent to national security,as well as Crescent cove Advisors LP,a Silicon Valley investment firm with a specialization in the defense sector.Existing investors Iberis Semper and Cedrus Capital also participated in this funding round, with TEKEVER receiving advisory support from The Growth Stage and Houlihan Lokey.
Strategic Expertise for future Growth
The new investors bring invaluable sector knowledge and experience, providing TEKEVER with essential pathways to access key markets. Their proven track record in scaling innovative, high-growth companies will be instrumental as TEKEVER embarks on its multinational expansion strategy.
CEO Insights on the Future
ricardo Mendes, CEO of TEKEVER, expressed his enthusiasm: “In a world characterized by volatility and rapid transformation, the power of software, AI, and robotics is undeniable.TEKEVER is designed to harness this reality,delivering future-ready,AI-enhanced systems that are produced at scale and effectively supported worldwide. For our Series B funding, we sought partners who not only provide capital but also share our vision and can assist in executing it.”
“we are excited to have Baillie Gifford as our lead investor, an association renowned for its long-term perspective and history of supporting transformative companies.The insights from NIF,NSSIF,and Crescent Cove will be crucial as we navigate the complexities of the global security landscape.”
Market Potential and Unique Approach
Chris Evdaimon, Investment Manager at Baillie Gifford, remarked: “TEKEVER stands out as a rapidly expanding and profitable entity, a rarity in the defense and national security sectors. We were drawn to its innovative approach to drone development, which emphasizes a software-centric and vertically integrated model, alongside the practical experience gained from operations in Ukraine and collaborations with the UK Home Office and the European Maritime Safety Agency.”
Commitment to Advancing Defense Technologies
Patrick Schneider-Sikorsky, Partner at the NATO Investment Fund, stated:
