AI
Saudi Arabia
UAE
EgyptTEKEVER Ascends to Unicorn Status with $1 Billion Valuation Boost
2 min
TEKEVER has become Europe's latest unicorn, surpassing a billion-dollar valuation in a fundraising round.
The round was led by UAE-based Ventura Capital with major financial players like Baillie Gifford.
TEKEVER's drones have logged 10,000 combat hours in Ukraine, aiding significant military successes.
CEO Ricardo Mendes stresses flexibility and rapid innovation over just larger military budgets.
The company continues to attract tech investors with its commitment to smarter defence solutions.
It's official—Portuguese drone and defence technology specialist TEKEVER has just become Europe's latest unicorn, having soared past a billion-dollar valuation in its most recent fundraising round. Not bad going, is it?
Leading this bumper investment round was Ventura Capital, an influential UAE-based venture firm, alongside some pretty heavy hitters in finance circles, including Baillie Gifford, NATO’s Innovation Fund (NIF), Iberis Capital, and Crescent Cove.
TEKEVER hasn't exactly been keeping itself under the radar lately. Over the past three years, the company's drones have clocked up a whopping 10,000 hours of combat flight in Ukraine, reportedly helping Ukrainian forces destroy Russian military equipment valued at over £3 billion. Among the equipment reportedly taken out was a highly prized S-400 air defence system.
TEKEVER's CEO, Ricardo Mendes, highlighted the key lessons learned from the war in Ukraine."The future isn't simply about bigger military budgets," he said. "We need a resilient and intelligent industrial ecosystem. What we've learnt from Ukraine is that flexibility and rapid innovation are absolutely crutial."
Sounds straightforward enough. And, speaking plainly, who'd argue against the need for smarter, more adaptive defence solutions in these turbulent times?
Whether you're a tech investor sipping espresso in Lisbon or browsing the tech section on Arageek from a rainy Manchester café, you'll likely appreciate why big names are jumping behind TEKEVER. It's clear this unicorn isn't planning to slow its pace anytime soon.
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