TEKEVER Invests £400m in UK Expansion with AI-Driven Defence Focus
Deal News | May 07, 2025 | Business Cloud
TEKEVER, headquartered in Lisbon, Portugal, has been recognized as Europe's newest unicorn and is set to invest £400 million in the UK defence sector. This expansion comes as part of a five-year development initiative named 'OVERMATCH' aimed at establishing leadership in AI-driven autonomous defence. The funding round was entirely supported by existing investors, including Ventura Capital, Baillie Gifford, NATO Innovation Fund, Iberis Capital, and Crescent Cove. TEKEVER plans to create over 1,000 jobs in the UK by expanding its production of unmanned aerial systems and developing centres of excellence to promote collaboration between academia, industry, and government. The firm has been actively supported by the UK Ministry of Defence and Ukrainian forces, with significant accomplishments in increasing combat capabilities. Key partners have expressed strong support for TEKEVER’s vision and technological direction, seeing it as vital for advancing Europe’s capabilities in autonomous defence technologies.
Sectors
- Defence and Security
- Aerospace and Autonomous Systems
- Financial Services
Geography
- United Kingdom – The investment and expansion efforts by TEKEVER are primarily focused in the UK, aiming to enhance its defence industry capabilities.
- Portugal – TEKEVER is headquartered in Lisbon, which denotes its operational and strategic decisions originate from Portugal.
- Europe – The broader European focus is highlighted by TEKEVER's pan-European strategy and the backing from European-based entities like NATO Innovation Fund.
Industry
- Defence and Security – The article details TEKEVER’s substantial investment in the UK’s defence industry with a focus on AI-driven autonomous technologies.
- Aerospace and Autonomous Systems – TEKEVER specializes in unmanned aerial systems, which are key components of the aerospace sector, particularly in the development of autonomous technology.
- Financial Services – The involvement of investment firms such as Ventura Capital and Baillie Gifford highlights the financial sector's role in facilitating growth and expansion through funding.
Financials
- £400 million – Investment pledged by TEKEVER for its UK expansion program, OVERMATCH.
- 3 billion – Amount in value of Russian military assets destroyed by TEKEVER's systems via drone operations in collaboration with UK and Ukrainian forces.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| TEKEVER | Target Company | Company | European unicorn focused on AI-driven autonomous defence and security, planning a major expansion in the UK. |
| Ventura Capital | Investor | Company | Lead investor in TEKEVER’s recent funding round, supporting its UK expansion initiative. |
| Baillie Gifford | Investor | Company | An existing investor in TEKEVER, contributing to the £400m funding round for UK expansion. |
| NATO Innovation Fund (NIF) | Investor | Organization | A fund under NATO providing financial backing in the strategic expansion of TEKEVER in the UK. |
| Iberis Capital | Investor | Company | An investment firm participating in the funding round for TEKEVER. |
| Crescent Cove | Investor | Company | Supporting investor in TEKEVER’s recent funding round aimed at UK expansion. |
| UK Ministry of Defence | Partner | Government | A partner in TEKEVER's previous and ongoing defence projects in the UK. |
| Ricardo Mendes | CEO | Person | Chief Executive Officer of TEKEVER, leading the strategic expansion into the UK market. |
| John Ridge | Chief Adoption Officer | Person | Chief Adoption Officer at the NATO Innovation Fund, supporting TEKEVER’s innovations. |