AI drone maker Tekever valued at $6.4 billion after $580 million funding round

By Reuters News

Sept 23 (Reuters) - European autonomous systems developer Tekever said on Wednesday it had raised $580 million in the first close of a Series D funding round led by UC Investments and Baillie Gifford, valuing the defence technology company at $6.4 billion.

Tekever said it would use the funding to expand internationally, increase manufacturing and technology capabilities, pursue acquisitions and accelerate development of AI-powered autonomous systems.

The fundraising comes weeks after Britain's Ministry of Defence selected the company to provide its CORVUS surveillance system under a programme worth up to £400 million ($532 million) over the next decade.

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