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[SITUATION] · [QUIET] · [BUSINESS]
2 clusters · 6 sources · 23 days · First seen · Last updated
TEKEVER corporate expansion and funding
Overview
TEKEVER, a provider of AI-driven autonomous systems, expanded its technological capabilities through the acquisition of Edinburgh-based engineering firm Flowcopter. This acquisition focused on integrating Flowcopter’s hydraulic transmission technology to develop long-endurance, heavy-lift unmanned aerial systems for various logistics and relief applications.
Following this expansion, TEKEVER secured a major funding round led by University of California Investments and Baillie Gifford, potentially reaching $580 million and bringing the company’s valuation to $6.4 billion. The company, which has recorded significant flight hours in Ukraine, intends to use the capital for international expansion and further strategic acquisitions. Additionally, TEKEVER secured a contract from the United Kingdom’s Ministry of Defence valued at up to £400 million over ten years.
Entities
Tekever · Ricardo Mendes · Flowcopter · Baillie Gifford · UK Ministry of Defence
Timeline
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[BUSINESS] 4 sourcesTekever reaches $6.4 billion valuation following major drone funding round
Portuguese drone startup Tekever has reached a $6.4 billion valuation following a funding round of up to $580 million to expand its AI surveillance technology and pursue strategic acquisitions.
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[BUSINESS] 2 sourcesTEKEVER acquires Flowcopter to boost autonomous drone capabilities
TEKEVER has acquired Edinburgh-based Flowcopter to integrate its hydraulic transmission technology, enhancing the payload capacity and endurance of unmanned aerial systems.
Sources
businessam.be · dronexl.co · eco.sapo.pt · exame.com · militaryleak.com · realtid.se