Tekever, a Portuguese drone startup, has raised €70 million ($74 million) to advance its dual-use drone platform and expand into the U.S. market. This marks a growing trend of smaller tech companies entering fields traditionally dominated by large defense contractors.
The war in Ukraine has accelerated the development of drone technology, and Tekever’s funding round was led by Baillie Gifford & Co. and the NATO Innovation Fund, which supports defense and dual-use tech.
Founded in Portugal with operations in the U.K. and France, Tekever’s drones have been used for various purposes, from monitoring the English Channel to aiding battlefield surveillance. The company’s in-house control over design and software enables quick adaptation to new demands.
CEO Ricardo Mendes stressed the need for Europe to improve its defense tech. Tekever’s drones are already deployed across Europe and Ukraine, supported by both private and public investors.
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