What Happened
Portuguese Defence Company Expands Autonomous Systems Capabilities
TEKEVER, a Portuguese-founded defence and aerospace company, has announced the first close of its $580 million Series D financing, valuing the company at $6.4 billion. The company is best known for its AI-enabled autonomous drones and software systems, which support both military and civilian surveillance missions. This funding comes shortly after TEKEVER was selected by the UK Ministry of Defence to deliver a new surveillance capability under a programme worth up to £400 million. The news was first reported by an unknown source.