TEKEVER RAISES $580M ON $6.4B VALUATION

Tekever closed the first tranche of a funding round targeting $580 million total. The capital injection values the Lisbon-based company at $6.4 billion, marking significant growth for the drone developer. The funding round comes on the heels of securing a substantial UK MOD contract worth £400 million over a decade. This contract provides a major revenue stream and validates Tekever's surveillance technology for defense applications. Tekever has indicated it plans to pursue acquisitions with the newly raised capital. The company develops unmanned aerial systems focused on surveillance and intelligence gathering capabilities. The funding underscores growing investor appetite for European defense-tech companies, particularly those with government contracts. UC Investments led the round, bringing institutional backing to support Tekever's expansion plans.