Portuguese company TEKEVER is Europe's new Unicorn

Portuguese company TEKEVER is Europe's new Unicorn - Portugal Business News

Business News Europe - Portuguese company TEKEVER is Europe's new Unicorn as it announces a new funding round fully subscribed by existing investors confirming a valuation above £1 billion.

This milestone positions TEKEVER not only as a leading European DefTech company, but as a new generation of agile, AI-first defence prime. With this funding, TEKEVER is launching OVERMATCH — a bold five-year, £400M investment programme to accelerate innovation, grow sovereign capability, and create over 1,000 high-skilled jobs across the UK.

The OVERMATCH programme builds on TEKEVER’s battlefield-proven experience — including 10,000+ combat flight hours and frontline deployment in Ukraine — and marks a step-change in how the UK and its allies build, scale and deploy uncrewed systems at pace.

At the heart of OVERMATCH is a mission to create a new defence innovation ecosystem — one that unites government, academia, and industry, empowers SMEs, and ensures Europe stays one step ahead.

Portuguese Unicorn TEKEVER is backed by outstanding investors: Ventura Capital (round leader), Baillie Gifford, NATO Innovation Fund (NIF), Iberis Capital and Crescent Cove Advisors LP.