- Companies
- TEKEVER
TEKEVER Valuation, Funding & Investors
TEKEVER is valued at $1.3B as of May 2025.
Last TEKEVER valuation
$1.3B
Undisclosed stage · May 2025
Last TEKEVER funding round
$538M
Undisclosed stage · May 2025
Cumulative funding TEKEVER raised
$635M
across 3 funding rounds
Key investors in TEKEVER
Iberis Capital
Baillie Gifford
NATO Innovation Fund
Ventura Capital
Crescent Cove Advisors
National Security Strategic Investment Fund
About TEKEVER
TEKEVER is a Lisbon-headquartered unmanned aerial systems manufacturer providing surveillance-as-a-service for maritime and border security. Its product lines feature AR3 for long-endurance VTOL missions, AR4 for tactical ISR, and AR5 with maritime radar payloads for BVLOS operations. Deployed by NATO members and African navies, TEKEVER delivers real-time intelligence via satellite links.
Founded
2001
HQ
Website
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Services
Valuation
$1.3B (May 2025)
TEKEVER Valuation
TEKEVER is currently valued at $1.3B, based on its undisclosed-stage round in May 2025.
The $538M round included Baillie Gifford, NATO Innovation Fund, Ventura Capital, Crescent Cove Advisors and Iberis Capital.
TEKEVER valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2025 | Undisclosed stage | $1.3B |
TEKEVER Funding History
TEKEVER has raised a total of $635M across 3 funding rounds.
TEKEVER's first fundraising round was a $23M Series A in January 2022. The most recent completed round was a $538M undisclosed-stage round in May 2025.
TEKEVER funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2025 | Undisclosed stage | Baillie Gifford; NATO Innovation Fund; Ventura Capital; Crescent Cove Advisors; Iberis Capital | $538M | $1.3B | TEKEVER is a Portuguese defense technology company founded in 2001 that develops AI-powered autonomous unmanned aerial systems for surveillance, intelligence, reconnaissance, and maritime operations. The company produces three mission-specific platforms: the AR3 for long-range operations with optional vertical takeoff and landing, the AR4 optimized for close-range ISR missions, and the AR5 for maritime surveillance with satellite communications and radar payloads. TEKEVER operates across defense, maritime security, civil protection, and environmental monitoring markets, serving government and commercial clients primarily in Europe and the United States. In May 2025, TEKEVER announced a funding round led by Ventura Capital with participation from Baillie Gifford, the NATO Innovation Fund, Iberis Capital, and Crescent Cove Advisors, bringing its valuation to £1 billion (approximately $1.25 billion USD) and achieving unicorn status. The round was fully committed by existing investors, with no new capital amount explicitly disclosed in public sources, though one source references a prior €70 million Series B round that closed in October 2024. The May 2025 funding announcement coincided with the launch of TEKEVER's five-year OVERMATCH program, a £400 million ($500 million) initiative to significantly scale up production of its unmanned aerial systems in the UK and create over 1,000 highly skilled jobs. The company is positioning itself as Europe's leading AI-driven autonomous systems provider for defense and security, with strong operational experience and a focus on vertical integration and advanced autonomous technologies for the evolving defense landscape. |
| Nov 2024 | Series B | Baillie Gifford (lead); NATO Innovation Fund (lead); National Security Strategic Investment Fund; Crescent Cove Advisors; Cedrus Capital; Iberis Capital | $74M | - | TEKEVER is a European provider of AI-centric Unmanned Aerial Systems (UAS), specializing in dual-use drones for defense, security, intelligence, surveillance, and reconnaissance. The company develops software-centric, vertically integrated platforms with real-world operational experience, including deployments in Ukraine, and serves customers such as the European Maritime Safety Agency, UK Home Office, and defense forces in Europe, North America, and Southeast Asia. On November 20, 2024, TEKEVER raised €70 million (approximately $74 million) in a Series B funding round led by Baillie Gifford and NATO Innovation Fund, with participation from National Security Strategic Investment Fund (NSSIF), Crescent Cove Advisors, Iberis Capital (or Iberis Semper), and Cedrus Capital. The funding aims to support sustainable growth, geographic expansion into priority markets like the US, continued product innovation in UAS and new lines, and scaling of production capacity to meet rising demand. Investors highlighted TEKEVER's rapid growth, profitability—a rarity in defense startups—and its position addressing the market gap for affordable medium-altitude long-endurance (MALE) fixed-wing drones with high payload and extended range. Baillie Gifford praised the company's transformative potential, while NATO Innovation Fund emphasized advancing alliance security through deep tech. |
| Jan 2022 | Series A | Ventura Capital (lead); Iberis Capital | $23M | - | TEKEVER is a European leader in drone-based maritime surveillance, providing Intelligence-as-a-Service through vertically integrated unmanned aerial systems (UAS) like AR3, AR4, and AR5, tailored for defense, maritime security, civil protection, and environmental monitoring. The company combines robotics, sensing, AI, and data analytics to deliver end-to-end services, with thousands of operational flight hours, including over 10,000 by AR3 in Ukraine since 2022. Founded in 2001 in Lisbon, Portugal, TEKEVER serves government and commercial clients in Europe and the US. In March 2022, TEKEVER announced a 20 million EUR growth-stage funding round led by Ventura Capital, with participation from Iberis Capital and strategic maritime investors, to fuel global expansion, R&D, and workforce growth by 100 in 2022. This round aligned with TEKEVER's scalable production and market leadership in a fast-growing sector. Subsequent developments include a 70 million EUR round in November 2024 led by Baillie Gifford with NATO Innovation Fund support, and later 2025 raises exceeding 500 million USD led by Ventura Capital with Baillie Gifford, NIF, Iberis, and Crescent Cove, achieving unicorn status at 1.25 billion USD valuation and surpassing 1B GBP. These funded UK and France expansions, including 400M GBP OVERMATCH program creating 1,000+ jobs, site openings in Wales (2023, 200 jobs), and France (100M EUR investment). |
Who has invested in TEKEVER?
7 investors have backed TEKEVER across its funding rounds, including Iberis Capital, Baillie Gifford, NATO Innovation Fund, Ventura Capital, Crescent Cove Advisors and National Security Strategic Investment Fund.
Lead investors include Baillie Gifford, NATO Innovation Fund and Ventura Capital.
TEKEVER Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Jan 2022 | ||
| 2 | Lead | Nov 2024 | ||
| 2 | Lead | Nov 2024 | ||
| 2 | Lead | Jan 2022 | ||
| 2 | Participant | Nov 2024 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by TEKEVER
TEKEVER has acquired 3 companies to date.
Last acquisition by TEKEVER was on September 1st 2026. TEKEVER acquired Flowcopter for undisclosed valuation.
Latest Acquisitions by TEKEVER
| Description | Flowcopter is a logistics technology developer focused on extended-range heavy-payload transport for humanitarian and environmental missions in demanding conditions. | Cloudsweep is a San Francisco-headquartered FinOps platform that analyzes source code, architecture, telemetry, and billing to identify cloud cost inefficiencies. Integrating with GitHub, Terraform, AWS Cost Explorer, and Kubernetes, it provides dashboards for engineering and finance teams to govern spending during development on multi-cloud setups. | Cocoon Experience is a Lisbon-based consultancy delivering immersive business transformation programs for corporate teams. It designs multi-day retreats combining experiential learning, team-building challenges, and strategic workshops at venues in Portugal and Spain. Cocoon Experience serves clients in tech and finance sectors, facilitating outcomes like innovation roadmaps and cultural shifts. Established in 2016, the firm hosts 50 events yearly with capacities up to 100 participants, incorporating VR simulations and outdoor adventures. |
| HQ Country | |||
| HQ City | Edinburgh | Lisbon | Lisbon |
| Deal Date | 1 Sep 2026 | 7 Jul 2026 | 1 Jul 2025 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all TEKEVER acquisitions and their M&A valuation multiples. Start Free Trial | |||
TEKEVER Competitors
TEKEVER competitors include listed companies like Droneshield and Red Cat Holdings, and private ones like Forterra, True Anomaly, Saildrone and Echodyne.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $154M | $3M | $1.1B | 5.8x | ||
| Publicly listed | $41M | ($72M) | $1.1B | 6.6x | ||
| Private | - | $82M | $1B | - | ||
| Private | - | - | $2.2B | - | ||
| Private | $43M | - | $600M | 14.0x | ||
| Private | - | - | $528M | - |
TEKEVER Public Comps
TEKEVER is still privately-owned, but its public comps include Cidi, Eacon Group, York Space Systems, Xtend AI Robotics, Shaanxi Zhongtian Rocket, AEVEX, Heckler & Koch, Paras Defence And Space, Droneshield and Beijing Beimo High Tech.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $132M | ($155M) | 8.8x | 5.0x | (7.5x) | (22.7x) | |||
| $214M | ($33M) | 6.6x | - | (42.5x) | - | |||
| $386M | ($21M) | 2.2x | 2.2x | (39.8x) | (32.7x) | |||
| $20M | ($27M) | 64.2x | - | (47.5x) | - | |||
| $117M | ($6M) | 9.3x | - | (192.0x) | - | |||
| $433M | $30M | 5.2x | 3.5x | 74.9x | 25.6x | |||
| $453M | $71M | 3.2x | - | 20.6x | - | |||
| $50M | $13M | 23.1x | 20.2x | 85.1x | 78.5x | |||
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Common questions about TEKEVER
| When was TEKEVER founded? | TEKEVER was founded in 2001. |
| Where is TEKEVER headquartered? | TEKEVER is headquartered in Lisbon, Portugal. |
| Is TEKEVER publicly listed? | No, TEKEVER is a private, VC-backed company. |
| What is TEKEVER's valuation? | TEKEVER was last valued at $1.3B in its undisclosed-stage round in May 2025. |
| How much funding has TEKEVER raised? | TEKEVER has raised $635M across 3 funding rounds. |
| What was TEKEVER's last funding round? | TEKEVER's last funding round was a $538M undisclosed-stage round in May 2025. |
| Who are TEKEVER's investors? | TEKEVER's investors include Iberis Capital, Baillie Gifford, NATO Innovation Fund, Ventura Capital, Crescent Cove Advisors, National Security Strategic Investment Fund and Cedrus Capital. |
| Which companies are comparable to TEKEVER? | Companies comparable to TEKEVER include Droneshield, Red Cat Holdings, Forterra, True Anomaly, Saildrone and Echodyne. |
| How many companies has TEKEVER acquired? | TEKEVER has acquired 3 companies, including Flowcopter, Cloudsweep and Cocoon Experience. |
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