New funding spherical totally subscribed by present traders to speed up TEKEVER’s enlargement
Firm launches daring five-year program to boost European safety by constructing Defence innovation ecosystem
TEKEVER, Europe’s main supplier of AI-driven Autonomous Methods, right this moment introduced the increase of a brand new funding spherical. Totally dedicated by present traders, together with spherical chief Ventura Capital, Baillie Gifford, the NATO Innovation Fund (NIF), Iberis Capital and Crescent Cove, the spherical confirms TEKEVER’s valuation above £1 Billion. This milestone cements TEKEVER as a European DefTech chief and fuels its continued enlargement throughout Europe, as the corporate pursues world management in AI-driven autonomous defence and safety.
The funding spherical coincides with the launch of TEKEVER’s bold five-year £400 million growth program for the UK, referred to as OVERMATCH, geared toward remodeling the UK’s defence {industry} and guaranteeing the UK and its allies stay on the forefront of important autonomous, AI-driven know-how.
The funding in analysis, infrastructure, and defence know-how will generate greater than 1000 high-skilled jobs and lay the muse for a sovereign functionality in next-generation warfare. The venture will develop manufacturing of TEKEVER’s household of UAS (unmanned aerial programs, popularly referred to as drones), together with the AR3 and AR5, within the UK, supporting the event of sovereign defence programs.
Constructing on three years of frontline innovation in partnership with the UK Ministry of Defence and Ukrainian forces, TEKEVER’s programs have amassed over 10,000 fight flight hours and contributed to the destruction of over £3bn value of Russian navy belongings — together with two of Russia’s superior S-400 air defence programs. OVERMATCH is the subsequent step: scaling this battlefield- confirmed success right into a sustainable, strategic functionality for the UK.
OVERMATCH is structured round 4 core pillars. The primary is BUILD, via which TEKEVER will set up Centres of Excellence for Autonomy within the UK — hubs designed to unite academia, {industry}, and authorities within the pursuit of defence innovation. The second, NETWORK, includes the enlargement of a pan-European testing and analysis infrastructure, together with new amenities constructed upon present operations within the UK. The third pillar, SCALE, will ship next-generation manufacturing hubs able to responding with velocity and suppleness to evolving operational calls for. Lastly, the PARTNER pillar displays TEKEVER’s dedication to fostering an inclusive ecosystem, selling collaboration between giant and small gamers, and inspiring higher cross-border cooperation amongst like- minded nations.
On the coronary heart of TEKEVER’s technique is the creation of a defence innovation ecosystem that can carry collectively European companies, notably small to medium-sized enterprises, to combine, take a look at and scale new defence applied sciences to assist the armed forces within the supply of advanced missions. A key lesson from the conflict in Ukraine is that success requires being continuously one step forward. A brand new sort of government-industry relationship, that places operational output entrance and middle, embraces new applied sciences sooner than ever earlier than, and iterates these capabilities sooner than our adversaries is important. With OVERMATCH, TEKEVER is stepping up and committing its full assist in driving ahead this essential agenda.
Ricardo Mendes, CEO of TEKEVER, commented: “The way forward for Europe depends on extra than simply elevated defence spending; we have to remodel our industrial base and be smarter about investments. TEKEVER’s expertise deploying autonomous programs in Ukraine has proven us that the way forward for defence is about agility greater than something. That’s why we’re launching our new technique centered on establishing a defence innovation ecosystem that empowers corporations of all sizes to innovate at tempo and scale with the shared mission of securing the way forward for Europe. This newest funding spherical will assist us ship that mission. The continued backing from our traders, together with Baillie Gifford and the NATO Innovation Fund, displays their confidence in our imaginative and prescient, know-how and long- time period success.”
John Ridge, Chief Adoption Officer on the NATO Innovation Fund, commented: “I’ve been a fan of Tekever since my time because the Director of Innovation within the UK Ministry of Defence. Their mission focus and adaptableness made them one of the vital profitable drone suppliers into Ukraine via Activity Drive Kindred. Their providing of uncrewed surveillance options has been instrumental in serving to Ukraine counter Russian aggression by repeatedly innovating on the tempo of battle. It’s subsequently extraordinarily thrilling to be supporting them in my present position because the Chief Adoption Officer on the NATO Innovation Fund. Not solely are they integrating more and more subtle AI and software program into their platforms, they’re now additionally forging revolutionary new partnerships between authorities and {industry} to assist remodel Europe’s industrial base. We’re dedicated to completely supporting Tekever’s Challenge Overmatch, which is able to catalyse the event of AI and autonomy within the UK, create 1000’s of high-skilled jobs, and assist NATO unlock the potential of latest know-how to take care of an more and more advanced safety setting in Europe.”
Mo El Husseiny, Managing Associate at Ventura Capital commented: “As a long-term investor in TEKEVER, we’re pleased with the corporate’s vital progress and to have led this funding spherical. TEKEVER is a flagship funding in Ventura’s portfolio of disruptive know-how corporations with market-leading know-how, 1000’s of hours of operational expertise and a uniquely worthwhile, sustainable enterprise mannequin.”
Chris Evdaimon, Funding Supervisor, Non-public Firms at Baillie Gifford commented: “The worldwide defence and safety panorama is quickly altering and TEKEVER is well-placed to seize the alternatives rising on this sector. With its vertically-integrated mannequin and intensive operational expertise in Ukraine, TEKEVER is driving the transformation of Europe’s defence capabilities and main a brand new era of agile, software-centric defence primes.”
Jun Hong Heng, Founder and Chief Funding Officer of Crescent Cove Advisors LP. commented: “We’re excited to be a part of TEKEVER’s subsequent part of progress because it scales to turn out to be a frontrunner in Autonomy for defence and safety. TEKEVER’s AI-first strategy and vertical integration place it effectively to seize the alternatives rising within the defence and safety sectors.”
Diogo Chalbert Santos, Associate at Iberis Capital, commented: “TEKEVER stands out within the quickly evolving defence and safety sector with its unmatched innovation in autonomous programs. Because the geopolitical panorama turns into more and more advanced, their capability to ship scalable, superior options positions the corporate as a frontrunner within the defence and safety ecosystem.”
A spokesperson for the Nationwide Safety Strategic Funding Fund (NSSIF), stated: ”As an present investor, we’re delighted to see additional funding into TEKEVER that can strengthen our nationwide safety and defence, and profit the UK financial system”
ABOUT TEKEVER
TEKEVER (www.tekever.com) is a number one pan-European know-how firm driving innovation in Defence & Safety via AI-centric Autonomous Methods. With a totally vertically built-in mannequin — spanning Aerospace structural engineering, design and manufacturing, propulsion programs, advanced optical and RF payload growth, communication programs, avionics, software program, information science, and synthetic intelligence — TEKEVER delivers full, end-to-end programs and companies tailor-made to the advanced calls for of contemporary safety operations. With a extremely expert and quickly rising workforce of just about 1000, and cutting-edge amenities unfold all through the UK, Portugal, France and Ukraine, TEKEVER is the main European supplier of AI-centric Autonomy, supporting Defence and Safety forces with capabilities that evolve at tempo and are delivered at scale.
ABOUT OUR INVESTORS
Ventura Capital
Based in 2012, Ventura Capital gives traders with publicity to disruptive client and enterprise know-how corporations which are rising exponentially and approaching IPO. By its world community and confirmed know-how sector experience, the agency is ready to supply and put money into unique and compelling non-public corporations on a transparent trajectory to IPO.
Baillie Gifford
Baillie Gifford is an unbiased funding partnership based over a century in the past in Edinburgh, Scotland. It’s owned and run by 58 companions who all work on the agency. The agency’s mission is to seek out game-changing corporations (each private and non-private) that may maintain progress and supply returns for purchasers over 5 to 10 years and longer. With 1,708 employees and belongings beneath administration of €263bn, it has 10 places of work worldwide.
NATO Innovation Fund
The NATO Innovation Fund is a enterprise capital fund, backed by 24 NATO Allies, that deploys greater than €1 billion in deep tech to handle challenges in defence, safety, and resilience. The fund invests independently, with 24 nations supporting its portfolio’s success and serving to present deep tech entrepreneurs with entry to each industrial and authorities markets.
Collaborating NATO Allies are: Belgium; Bulgaria; Czechia; Denmark; Estonia; Finland; Germany; Greece; Hungary; Iceland; Italy; Latvia; Lithuania; Luxembourg; Netherlands; Norway; Poland; Portugal; Romania; Slovakia; Spain; Sweden; Türkiye; United Kingdom.
Crescent Cove Advisors LP
Crescent Cove Advisors, LP is a non-public market funding agency centered on know-how investments and devoted to supporting entrepreneurs and founders. Established in 2016, Crescent Cove leverages its world community of relationships and distinctive perception throughout markets, rising industries and applied sciences to construct companies and speed up worth creation throughout its portfolios. For extra info, go to www.crescentcove.com.
The Nationwide Safety Strategic Funding Fund (NSSIF)
The Nationwide Safety Strategic Funding Fund is the UK Authorities’s company venturing arm for pioneering dual-use applied sciences. NSSIF invests commercially, alongside different traders, in revolutionary start-ups, whose superior applied sciences have step change potential each within the non-public sector and within the nationwide safety and defence.
Iberis Capital
Iberis Capital is a number one non-public fairness and enterprise capital supervisor in Portugal. Iberis invests throughout totally different phases, from seed capital to progress and buy-out in corporations and groups with world focus and disruptive mindset.
Associated
Uncover extra from sUAS Information
Subscribe to get the newest posts despatched to your e-mail.
