TEKEVER, a developer of AI-powered autonomous systems for defense and aerospace, has secured $580 million in the first close of its Series D funding round. This investment values the Portuguese-founded company at $6.4 billion. The round was led by UC Investments and Baillie Gifford, with Merlyn Advisors joining as a new strategic investor. Existing shareholders Crescent Cove, Ventura Capital, and Iberis Capital also participated.
The company plans to hold additional closings for the Series D round in the coming months to attract further strategic partners. The capital will be utilized to accelerate international expansion, scale industrial and technological capabilities, and pursue strategic acquisitions. This funding follows the company's selection by the UK Ministry of Defence for the CORVUS surveillance program, valued at up to £400 million over ten years.
TEKEVER specializes in autonomous drones and integrated software systems for military and civilian missions, including maritime patrol and border surveillance. Its product portfolio includes the modular AR3 and AR3 EVO drones, as well as the AR5 aircraft, which supports payloads of up to 50 kg and flight durations of approximately 20 hours. The firm integrates hardware, sensors, and AI-driven data processing for real-time intelligence.
