Tekever Raises $580 Million as Its AR5 Heads Into British Army Service
The Portuguese-founded drone maker is now valued at $6.4 billion, roughly five times its 2025 mark, and plans to spend part of the round buying rivals.
The Portuguese-founded drone maker is now valued at $6.4 billion, roughly five times its 2025 mark, and plans to spend part of the round buying rivals.
Tekever said Wednesday it raised $580 million in the first close of a Series D round that values the surveillance-drone maker at $6.4 billion. UC Investments, the University of California's investment arm, and Baillie Gifford led the round. It is UC Investments' first direct investment in Europe, and more closings are due in the coming months.
Frequently Asked Questions
How much did Tekever raise, and at what valuation?
$580 million in the first close of a Series D round, valuing the company at $6.4 billion, per Reuters. The company expects further closings in the coming months.
Who led the round?
UC Investments, the University of California's investment arm, and Baillie Gifford. Merlyn Advisors joined as a new strategic investor, with Crescent Cove, Ventura Capital and Iberis Capital also participating, the company said.
What is CORVUS?
The British Army's new surveillance capability, built on Tekever's AR5 drone under a program worth up to £400 million over 10 years. The system is due to enter service later this year, per the Ministry of Defence selection announcement.
What will Tekever do with the money?
Expand internationally, add manufacturing and technology capacity, accelerate AI-enabled autonomous systems and pursue acquisitions, the company said. CEO Ricardo Mendes told Bloomberg Television he expects "tremendous consolidation" in defense tech.
How much has Tekever's valuation grown?
Resilience Media put its May 2025 valuation at $1.32 billion, making the new $6.4 billion mark roughly five times higher.
AI-generated summary, reviewed by an editor. More on our AI guidelines.
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Marcus Schuler
Marcus Schuler edits BattlePolicy, a daily defense-technology brief connecting the companies and capabilities behind modern war to the contest among Europe, the US, Russia, and China.