Portuguese aerospace company TEKEVER raises 70 million euros

Portuguese aerospace company TEKEVER raises 70 million euros - Portugal Business News

Portugal News - Portuguese aerospace company TEKEVER has raised 70 million euros in a Series B funding round led by Baillie Gifford and backed by the NATO Innovation Fund, that is a venture capital fund backed by 24 NATO allies with funding of €1 billion for deep tech in the Defence sector. Baillie Gifford, that is an investment management firm headquartered in Edinburg, was the early backer of Airbnb, Spotify and SpaceX.

Other participants in the TEKEVER funding round include the National Security Strategic Investment Fund, that is a UK government–owned fund supporting advanced technologies related to national security; Crescent Cove Advisors LP, that is an investment firm based in Silicon Valley; and existing investors Iberis Semper, and Cedrus Capital. TEKEVER was advised by The Growth Stage and Houlihan Lokey during the process.

Portuguese aerospace company TEKEVER is the European market leader in AI Unmanned Aerial Systems (UAS), providing AI-centric hardware-enabled systems. The new funding round will allow TEKEVER to accelerate investment in R&D to support product innovation.

TEKEVER has already accumulated numerous successful operations in Ukraine and in its work with the UK Home Office and European Maritime Safety Agency.

TEKEVER systems have been deployed to Ukraine to enable some of the most complex and demanding long range intelligence, surveillance and reconnaissance missions, performed under the most extreme operational and technical conditions.

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