Defence technology company TEKEVER has raised $580 million in the first close of a Series D funding round, valuing it at $6.4 billion. The financing follows the opening of a Tallinn office and gives the European autonomous-systems developer capital for international expansion and further capability building.
Funding supports international expansion
UC Investments and Baillie Gifford led the round. TEKEVER said the investment will support its international growth, manufacturing and technology capabilities, potential acquisitions and the development of AI-powered autonomous systems.
The first close represents the majority of the Series D financing. The company expects additional closings in the coming months as it brings in further strategic investors. UC Investments said the round was its first direct investment in Europe, while Baillie Gifford continued its backing of TEKEVER.
Building autonomous systems from Europe
TEKEVER develops AI-powered autonomous systems for defence and security applications. The company said the new capital will allow it to scale production, deepen its technology base and expand its international presence while continuing to develop systems for operational use.
TEKEVER chief executive Ricardo Mendes said the investment gives the company the resources to “move faster, scale further and continue building a global technology leader from Europe.”
TEKEVER’s Tallinn office was opened in June 2026, following the memorandum of understanding (MoU) with Estonian battery maker Skeleton Technologies. The document was signed during the Eurosatory defence exhibition in Paris, where Estonia fielded a powerful delegation. The office gives it a base in Estonia’s defence-technology ecosystem as it expands its engineering, technology and commercial relationships across the region.
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