- Companies
- Auterion
Auterion Valuation, Funding & Investors
Auterion is valued at $600M as of September 2025.
Last Auterion valuation
$600M
Series B · Sep 2025
Last Auterion funding round
Strategic investment
Amount undisclosed · Nov 2025
Cumulative funding Auterion raised
$156M
across 4 funding rounds
Key investors in Auterion
Costanoa Ventures
Lakestar
Mosaic Ventures
Bessemer Venture Partners
Tectonic Ventures
Rheinmetall
About Auterion
Auterion is a Zurich-headquartered developer of open-source software for autonomous drones and robots. The company offers AuterionOS operating system, Skynode hardware computers, and Suite mission control software. Its platform enables fleet management, payload integration, and applications in inspection, mapping, and public safety. Auterion supports multi-vehicle operations across air, ground, and sea domains worldwide.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$600M (Sep 2025)
Auterion Valuation
Auterion is currently valued at $600M, based on its Series B in September 2025.
The $105M round was led by Bessemer Venture Partners, with participation from Mosaic Ventures, Lakestar and Costanoa Ventures.
Auterion's valuation has moved from $600M at its Series A in December 2022 to $600M in September 2025, across 2 priced rounds.
Auterion valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2025 | Series B | $600M |
| Dec 2022 | Series A | $600M |
Auterion Funding History
Auterion has raised a total of $156M across 4 funding rounds.
Auterion's first fundraising round was a $10M seed round in September 2018. The most recent completed round was a strategic investment round in November 2025.
Auterion funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2025 | Strategic investment | Rheinmetall (lead) | - | - | Auterion develops drone software, including the Skynode technology and operating systems for autonomous drones used in military applications such as loitering munitions and reconnaissance in Ukraine. Rheinmetall acquired a significant stake in Auterion around November 18, 2025, strengthening their collaboration started in December 2024 to create unified operating systems for NATO unmanned systems. The investment, confirmed by Auterion CEO Lorenz Meier and Rheinmetall CEO Armin Papperger, expands drone software orders without constituting a full takeover. Auterion became profitable in 2025 with annual revenue of approximately €100 million ($115 million USD). The company's software is combat-proven, bypassing Russian electronic warfare jamming for Ukrainian forces. Prior to this round, Auterion raised $130 million in a Series B at around $600 million valuation and total funding over $167 million. Rheinmetall's move addresses European defense demands amid drone incursions and integrates Auterion's open-source PX4/MAVLink stack with its hardware, following a controversial $950M drone contract. |
| Sep 2025 | Series B | Bessemer Venture Partners (lead); Mosaic Ventures; Lakestar; Costanoa Ventures | $105M | $600M | Auterion, headquartered in Arlington, VA with engineering teams in Zurich and Munich, develops AI-enabled autonomous systems software for defense applications, including the AuterionOS platform and Nemyx defense system that enable drone swarms and coordinated combat operations across air, land, and sea domains. The company originated from open-source drone software efforts to counter DJI dominance and has evolved to support real-world operations like those in Ukraine and partnerships with Taiwan’s NCSIST and U.S. Pentagon contracts for drone strike kits. On September 23, 2025, Auterion closed a $130 million Series B funding round led by Bessemer Venture Partners, with participation from existing investors Lakestar, Mosaic Ventures, and Costanoa Ventures. The round included $25 million in non-dilutive capital from Rochefort backed by the U.S. Department of Defense's Office of Strategic Capital. Sources confirm a post-money valuation of $600 million, with one noting it as 'north of $600M.' Bessemer partner Alex Ferrara joined the board, marking the firm's first defense tech investment in Europe. Funds will accelerate scaling of AuterionOS production, product development, global operations expansion, team growth, and deployment of AI-powered swarming capabilities to allied democratic governments. The investment underscores conviction in software-defined warfare using low-cost commercial hardware at scale, drawing lessons from Ukraine where Auterion's tech powers battlefield drone swarms. CEO Lorenz Meier emphasized building swarms over individual drones for decisive advantage. Auterion, founded in 2017 with over 200 employees, positions itself at the forefront of shifting defense from artisan hardware to mass production. It maintains personnel in Kyiv supporting Ukrainian operations and focuses on keeping humans in control of targeting while enabling autonomous defense against authoritarian threats. The round builds on prior investments from Lakestar and others, solidifying Auterion's leadership in drone operating systems. |
| Dec 2022 | Series A | - | $41M | $600M | - |
| Sep 2018 | Seed | Lakestar (lead); Mosaic Ventures; Tectonic Ventures; Costanoa Ventures | $10M | - | Auterion raised $10 million in seed funding on September 4, 2018, from investors Lakestar, Mosaic Ventures, Costanoa Ventures, and Tectonic Ventures. The Switzerland-based company operates an open source drone operating system built on the PX4 autopilot software standard. The funding was intended to accelerate platform development and scale operations to serve enterprise and commercial drone customers. Auterion's technology addresses autonomous systems across drones and other platforms, with backing from experienced venture investors who had previously invested in major technology successes including Skype, Spotify, and Airbnb. |
Who has invested in Auterion?
6 investors have backed Auterion across its funding rounds, including Costanoa Ventures, Lakestar, Mosaic Ventures, Bessemer Venture Partners, Tectonic Ventures and Rheinmetall.
Lead investors include Rheinmetall, Bessemer Venture Partners and Lakestar.
Auterion Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Sep 2018 | ||
| 2 | Lead | Sep 2018 | ||
| 2 | Participant | Sep 2018 | ||
| 1 | Lead | Sep 2025 | ||
This data is available for Pro users. Sign up to see all 6 Auterion investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAuterion Competitors
Auterion competitors include listed companies like Kodiak AI, Extreme Vision and Swarmer, and private ones like Roadstar.ai, Forterra and Uhnder.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $600M | - | ||
| Publicly listed | $4M | ($577M) | $768M | 98.7x | ||
| Private | - | $82M | $1B | - | ||
| Publicly listed | $44M | ($6M) | $1B | 11.6x | ||
| Private | - | - | $350M | - | ||
| Publicly listed | $310K | ($8M) | $342M | 101.7x |
Auterion Public Comps
Auterion is still privately-owned, but its public comps include Reconova Technologies, RoboStrategy, People & Technology, Huayan Robotics, Elsight, Kodiak AI, ECARX Group, Serve Robotics, SaverOne and Swarmer.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $66M | ($8M) | 10.0x | - | (82.0x) | - | |||
| - | - | - | - | - | - | |||
| $542M | $77M | 1.2x | 1.2x | 8.8x | 11.5x | |||
| $58M | ($4M) | 12.8x | 9.5x | (184.5x) | (3194.4x) | |||
| $23M | $6M | 30.7x | 15.3x | 117.5x | 34.5x | |||
| $4M | ($577M) | 233.9x | 98.7x | (1.5x) | (6.6x) | |||
| $848M | ($23M) | 1.1x | 0.9x | (40.7x) | 60.0x | |||
| $3M | ($104M) | 55.5x | 19.3x | (1.4x) | (1.0x) | |||
This data is available for Pro users. Sign up to see all Auterion competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Auterion
| When was Auterion founded? | Auterion was founded in 2017. |
| Where is Auterion headquartered? | Auterion is headquartered in Zurich, Switzerland. |
| Is Auterion publicly listed? | No, Auterion is a private, VC-backed company. |
| What is Auterion's valuation? | Auterion was last valued at $600M in its Series B in September 2025. |
| How much funding has Auterion raised? | Auterion has raised $156M across 4 funding rounds. |
| What was Auterion's last funding round? | Auterion's last funding round was a strategic investment round in November 2025, led by Rheinmetall. |
| Who are Auterion's investors? | Auterion's investors include Mosaic Ventures, Lakestar, Costanoa Ventures, Bessemer Venture Partners, Rheinmetall and Tectonic Ventures. |
| Which companies are comparable to Auterion? | Companies comparable to Auterion include Roadstar.ai, Kodiak AI, Forterra, Extreme Vision, Uhnder and Swarmer. |
See companies similar to Auterion
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




