Defense IT company TEKEVER, with offices in Ukraine, became a unicorn after attracting $500M.

Portuguese IT startup TEKEVER, specializing in developing AI-equipped reconnaissance drones, raised approximately $500M in investment, boosting its valuation to $1.25B. Investors fully supported this new round of financing that is intended to accelerate TEKEVER’s expansion. The planned five-year program will enhance the production of the TEKEVER drone family, including the AR3 and AR5 reconnaissance UAVs used by the Ukrainian military.

TEKEVER operates offices in Ukraine focused on technology adaptation, training, and service support. The company claims that in partnership with the UK Ministry of Defense and the Armed Forces of Ukraine, TEKEVER systems have completed over 10,000 combat hours and contributed to the destruction of Russian military targets (including two S-400 air defense systems) valued at approximately $4B.

Also, German Quantum Systems, developer of the Vector reconnaissance drone, produces 40 UAVs each month in Ukraine. The company is also developing a new drone that will be a 100% Ukrainian product.