$580m · Series D+ · Robotics · Lisbon, Portugal
Lisbon-based autonomous systems company TEKEVER has raised the first close of a $580m Series D led by UC Investments and Baillie Gifford, valuing the company at $6.4bn. Merlyn Advisors joined as a new strategic investor, while Crescent Cove, Ventura Capital and Iberis Capital also participated.
TEKEVER says the financing will support international expansion, greater industrial and technology capacity, strategic acquisitions and further development of its AI-powered autonomous systems. The company expects additional Series D closings over the coming months.
From contracts to industrial scale
TEKEVER combines aircraft, sensors and autonomy software for surveillance and intelligence missions. Its growth challenge is no longer just proving the technology: large defence programmes require production capacity, long-term support and continuous upgrades. The recently awarded UK CORVUS programme, worth up to £400m over ten years, makes that industrial execution visible.
The first close gives TEKEVER capital to expand organically and through acquisitions, but the $6.4bn valuation raises the performance bar. Converting programme awards into delivered systems and recurring capability upgrades will matter more than headline order values, particularly as European customers push for sovereign supply chains and faster procurement.
