Observed Signal · Sep 23, 2026 · Funding · Source: Tech.eu (European Tech & Deals) · Impact: 2/5 · Sentiment: Positive
TEKEVER raises $580M Series D at $6.4B valuation
TEKEVER, a Portuguese defense and aerospace company specializing in AI-powered autonomous drones, announced the first close of its $580 million Series D financing, valuing the company at $6.4 billion. Led by UC Investments and Baillie Gifford, with Merlyn Advisors as a new investor and continued support from Crescent Cove, Ventura Capital, and Iberis Capital, this round marks UC Investments' first direct investment in Europe. TEKEVER's valuation has nearly quintupled since May 2025, when it was $1.32 billion. Proceeds will support international expansion, industrial scaling, R&D, and acquisitions, including the recent purchase of Scottish startup Flowcopter. TEKEVER also holds a UK Ministry of Defence contract for the CORVUS program, worth up to £400 million over ten years.
TEKEVER operates in defense and aerospace, which is not directly relevant to AdTech, MarTech, or advertising. Although AI-powered autonomy is mentioned, the core business is not advertising technology.
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Key Takeaways & Evidence Grounding
- TEKEVER raised $580 million in Series D financing, valuing the company at $6.4 billion.
- UC Investments and Baillie Gifford led the round, with Merlyn Advisors as a new investor, and participation from Crescent Cove, Ventura Capital, and Iberis Capital.
- UC Investments made its first direct investment in Europe with this round.
- TEKEVER's valuation nearly quintupled from $1.32 billion in May 2025.
- TEKEVER recently acquired Scottish startup Flowcopter and holds a UK MoD contract worth up to £400 million.
Connected Companies & Entities
1 Entity mapped“led the round... continued support from Baillie Gifford...”
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