TEKEVER raises $580M Series D Funding Led by Baillie Gifford

UC Investments and Baillie Gifford led the round. It is UC Investments’ first direct investment in Europe. Merlyn Advisors also joined as a new investor, while existing investors Crescent Cove, Ventura Capital, and Iberis Capital continued to support the company.

The funding will help TEKEVER grow its business, expand internationally, strengthen its technology and operations, and support strategic acquisitions.

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The Series D funding comes soon after TEKEVER was selected by the UK Ministry of Defence to provide CORVUS, a new surveillance system for the British Army, under a programme worth up to £400 million over the next 10 years.

TEKEVER is more than just a drone maker. It combines the aircraft, sensors, communication systems, AI, and ground-control software to help customers collect and analyse information in real time.

Its main drones include the smaller and modular AR3/AR3 EVO and the larger AR5, which can fly for up to 20 hours and carry up to 50 kg of payload.

According to Ricardo Mendes, Founder, and CEO of TEKEVER, the investment is more than just a funding round. It brings together a strong group of investors who share the companys vision for its future.

About TEKEVER

Founded in 2001 by Ricardo Mendes, TEKEVER is a Portuguese defence and aerospace company that develops AI-powered autonomous drones and related software. Its technology is used for military and civilian missions, including battlefield intelligence, maritime patrol, border surveillance, search and rescue and monitoring illegal activities at sea.

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