European autonomous systems developer Tekever has secured $580 million in the initial closing of its Series D funding round. The investment values the company at $6.4 billion. The round was led by UC Investments and Baillie Gifford, with participation from Merlyn Advisors, Crescent Cove, Ventura Capital, and Iberis Capital.
Founded in 2001, the company specializes in unmanned aircraft, sensors, and AI-driven intelligence. Tekever reports that its systems have accumulated over 50,000 operational flight hours in Ukraine since 2022. This track record is being leveraged to secure long-term government procurement contracts.
The company was recently selected for the British Army’s CORVUS surveillance program. This contract is valued at up to £400 million, or approximately $530 million, over a 10-year period. The new capital will support international expansion, manufacturing capacity, and further AI development.
The funding reflects a broader trend of increased private investment in European defense technology. Other recent major rounds include Helsing, Quantum Systems, Cambridge Aerospace, and Stark. These investments align with European government efforts to boost military spending and prioritize local technology production.
