Tekever, a leader in AI-centric Unmanned Aerial Systems (UAS), has successfully raised €70 million in a funding round led by Baillie Gifford, alongside backing from the NATO Innovation Fund (NIF) and other strategic investors.
This substantial investment aims to fuel the company’s continued product innovation, global expansion, and sustainable growth. With the support of Baillie Gifford, which is renowned for backing transformative companies such as Airbnb, Spotify, and SpaceX, as well as other notable investors like Crescent Cove Advisors LP and the National Security Strategic Investment Fund (NSSIF), Tekever is poised to accelerate its efforts in the defense, security, and commercial sectors.
Just a while back, we also reported about how Ulysses Ecosystem Engineering secured $2M to revive seagrass ecosystems with its drone technology. It’s an interesting read too.
What problem is the startup trying to solve
Founded with a vision to revolutionise the aerospace industry through AI-powered drones, Tekever has quickly established itself as a major player in the unmanned aerial systems market. Specialising in drone-based Intelligence-as-a-Service, Tekever offers innovative solutions to a wide array of clients, from government defense agencies to private companies. The company’s drones are capable of surveying large areas, sharing real-time data to assist in threat detection, environmental monitoring, and search and rescue missions.
Unlike traditional aerospace companies, Tekever stands out with its vertically integrated approach. This model grants the company full control over every aspect of its operations, from airframe design and manufacturing to software and AI technology. Such integration enables Tekever to remain highly adaptable to customer needs and evolving market conditions. Their technology is deployed by both civilian and military organisations, including the European Maritime Safety Agency, the UK Home Office, and multiple defense forces globally.
Applications of the company’s technology
Tekever’s unmanned aerial systems have a wide range of applications across both defense and civilian sectors. The drones are used to detect environmental threats, such as oil spills and wildfires, as well as to assist in complex defense operations. Notably, TEKEVER’s technology was deployed in Ukraine, providing critical intelligence, surveillance, and reconnaissance (ISR) services under challenging operational conditions.
In addition to defense and security applications, Tekever’s drones are utilised for disaster response, including search and rescue missions. The company’s ability to deliver high-quality real-time data through its AI-driven systems allows organisations to make informed, timely decisions that can mitigate risks to human life and property.
Strategic investment to drive global expansion
With this new round of funding, Tekever will be focusing on increasing its production capacity and expanding its global footprint. The infusion of capital will support the company’s push into new international markets, particularly in North America, Southeast Asia, and other regions with a high demand for advanced drone technology.
Ricardo Mendes, CEO of Tekever, emphasised the importance of strategic partnerships in this phase of growth. He stated, “We’re living in a highly volatile world, experiencing exponential change and the transformative power of software, AI, and robotics. Tekever was built to embrace and leverage this reality, providing its customers with future-proofed, AI-centric hardware-enabled systems that are produced at scale and effectively delivered and sustained globally.” He further acknowledged the role of the investors, particularly Baillie Gifford, in supporting the company’s vision for long-term growth.
The role of strategic investors in scaling operations
The new investors are expected to play a key role in supporting Tekever’s growth by offering sector expertise and helping the company access priority markets. Baillie Gifford’s involvement is particularly noteworthy, as the investment firm has a strong track record of backing companies with long-term transformative potential.
Chris Evdaimon, Investment Manager at Baillie Gifford, highlighted Tekever’s unique business model, saying, “Tekever is a rapidly growing and already profitable company, a rare combination in defense, national security, and space start-ups. We were attracted by its approach to building drones—with a software-centric and vertically integrated model—along with the real-life experience Tekever has accumulated from operations in Ukraine and its work with the UK Home Office and European Maritime Safety Agency.”
In a similar vein, Patrick Schneider-Sikorsky from the NATO Innovation Fund noted the critical role unmanned aerial systems play in advancing global defense, security, and resilience. He expressed excitement about the investment, saying, “Unmanned Aerial System technologies are critical to advancing defense, security, and resilience. We are thrilled to support Tekever—whose technology is revolutionising the defense and commercial intelligence, surveillance, and reconnaissance sectors.”
What do we think about the startup
Tekever’s profitability and its innovative approach to drone technology have made it an attractive investment opportunity. The company’s deep integration of AI and robotics positions it well to meet the growing demand for autonomous systems in both commercial and defense applications. As the company scales its operations, it is expected to remain a key player in the rapidly evolving unmanned aerial systems market.
Jun Hong Heng, the founder of Crescent Cove Advisors, also expressed confidence in Tekever’s prospects, stating, “We believe Tekever’s robust vertical integration and AI-first approach leverage the platform’s agnostic command and control system to create compound effects on mission capabilities and cost. We are thrilled to be part of Tekever’s next phase of growth and look forward to supporting Tekever’s future in the defense technology space.”
Tekever’s latest funding round marks a significant milestone in the company’s journey to becoming a leader in AI-driven unmanned aerial systems. With strong backing from key strategic investors, the company is well-positioned to scale its operations, expand into new markets, and continue innovating its product offerings. As drones play an increasingly important role in both defense and commercial sectors, Tekever’s unique combination of AI, robotics, and vertical integration offers a promising solution to meet the evolving demands of its customers.
However, as the company grows and extends its global reach, it will need to navigate the challenges that come with operating in the highly competitive and politically sensitive defense and security markets. Nonetheless, with a solid foundation of expertise and a clear vision for the future, Tekever appears poised to make a lasting impact on the unmanned systems industry.
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