Today, Tekever, a Portuguese company that develops a drone platform powered by artificial intelligence, said that it has raised €70 million, or $74 million, in new funding to increase production and broaden its market reach, particularly in the US.
Baillie Gifford led the Series B funding round, which was supported by the NATO Innovation Fund. Other participants included Crescent Cove Advisors LP, Iberis Simper, Cedrus Capital, and the National Security Strategic Investment Fund, which is held by the U.K. government.
Baille Gifford is well-known for having backed businesses including SpaceX, Spotify AB, and Airbnb Inc. Launched in 2022 and supported by 24 NATO countries, the NIF is a €1 billion bund that supports early-stage firms and other venture capital funds that are creating dual-use emerging technologies that are essential to security and military concerns.
By offering drone capabilities that can scan large areas and exchange real-time data with a diverse range of clients, including the government, military, and commercial corporations, Tekever offers what it refers to as “intelligence as a service.” Its technology can be used for defense-related search and rescue operations as well as environmental assessment for problems like oil spills, wildfires, or flash floods.
The company’s platform has been used to support long-range reconnaissance and intelligence in Ukraine.
By keeping complete control over all facets of its drone platform, including airframe design, payload manufacture, avionics, software, data, and artificial intelligence, Tekever sets itself apart from other drone platforms and aerospace businesses. According to the business, this enables it to quickly modify its platform’s capabilities to meet shifting client demands.
Chief Executive Ricardo Mendes stated, “We’re living in a highly volatile world, experiencing exponential change and the transformative power of software, AI and robotics,” “Tekever was built to embrace and leverage this reality, providing its customers with future-proofed, AI-centric hardware-enabled systems produced at scale and effectively delivered and sustained globally.”
The company builds drones with features including vertical takeoff and landing (VTOL) and catapult, and recovery techniques like parachute and conventional landing. The business has been developing the ARX, its largest drone to date, which will use cutting-edge AI capabilities and have a maximum takeoff weight of 600 kg.
Being the first in the company’s product line to do so, its increased carry-weight will enable it to accommodate a swarm of smaller drones that will use it as a “mother” drone. Using its AI capabilities, the ARX will manage the swarm of tiny drones to carry out intricate missions in the field.
Defense and security forces in Europe, North America, and Southeast Asia are among Tekever’s clients, along with the European Maritime Safety Agency and the U.K. Home Office.
