TEKEVER Secures €70M Funding: Strategic Investors Propel AI-Driven Drone Technology to New Heights

TEKEVER, a leading European company specializing in AI-driven Unmanned Aerial Systems (UAS), has successfully secured €70 million in a recent funding round. This round was spearheaded by Baillie Gifford, an investment management firm known for its early support of companies like Airbnb, Spotify, and SpaceX. The NATO Innovation Fund (NIF), a €1 billion venture capital fund backed by 24 NATO allies, also participated, focusing on deep tech advancements in defense, security, and resilience.

Additional investors in this round include the UK’s National Security Strategic Investment Fund (NSSIF), which supports advanced technologies related to national security; Crescent Cove Advisors LP, a Silicon Valley-based investment firm with expertise in the defense sector; and existing investors Iberis Semper and Cedrus Capital. TEKEVER received advisory support from The Growth Stage and Houlihan Lokey during this process.

The infusion of capital and strategic expertise from these investors is set to propel TEKEVER into its next growth phase. The company plans to accelerate research and development efforts to enhance its current UAS offerings and develop new product lines, ensuring its technology remains at the forefront of the rapidly evolving landscape. Additionally, TEKEVER aims to expand its global production, delivery, and support capabilities to meet the increasing demand for its products and services.

Ricardo Mendes, CEO of TEKEVER, stated, “We’re living in a highly volatile world, experiencing exponential change and the transformative power of software, AI, and robotics. TEKEVER was built to embrace and leverage this reality, providing its customers with future-proofed, AI-centric hardware-enabled systems that are produced at scale and effectively delivered and sustained globally.” He emphasized the importance of partnering with investors who share this vision, expressing enthusiasm for the collaboration with Baillie Gifford and other strategic partners.

Chris Evdaimon, Investment Manager for Private Companies at Baillie Gifford, commented on the investment, highlighting TEKEVER’s rapid growth and profitability—a rare combination in defense, national security, and space startups. He noted the company’s software-centric and vertically integrated approach to building drones, as well as its real-life operational experience in Ukraine and collaborations with the UK Home Office and European Maritime Safety Agency.

Patrick Schneider-Sikorsky, Partner at the NATO Innovation Fund, underscored the critical role of UAS technologies in advancing defense, security, and resilience. He expressed excitement about supporting TEKEVER, whose technology is revolutionizing the defense and commercial intelligence, surveillance, and reconnaissance sectors, and looked forward to collaborating to support more governments and businesses across the Alliance.

TEKEVER’s UAS technology offers drone-based Intelligence-as-a-Service, enabling the surveillance of vast areas and providing real-time data to customers. This capability allows for timely and efficient actions to mitigate threats to human life, the environment, and the economy. The dual-use nature of TEKEVER’s technology makes it applicable for both civilian and military organizations.

The involvement of The Growth Stage and Houlihan Lokey as advisors played a pivotal role in facilitating this funding round, ensuring that TEKEVER’s strategic objectives align with the interests of its new and existing investors.

With this significant investment and the backing of strategic partners, TEKEVER is well-positioned to continue its trajectory of innovation and expansion in the UAS sector, addressing the evolving needs of defense and commercial markets worldwide.