Key backers in the round include Ventura Capital, Baillie Gifford, the NATO Innovation Fund, Iberis Capital and Crescent Cove. The investment supports TEKEVER’s goal of expanding its leadership in AI-driven defence and security systems across Europe.
Coinciding with the funding, TEKEVER launched OVERMATCH, a bold five-year £400 million programme to boost the UK’s defence capabilities. The initiative aims to strengthen Britain’s role in next-generation warfare through major investments in research, infrastructure and technology.
The OVERMATCH programme is expected to create over 1,000 high-skilled jobs in the UK. It will also expand the production of TEKEVER’s AR3 and AR5 unmanned aerial systems, helping to build sovereign defence systems on British soil.
With over 10,000 combat flight hours, TEKEVER’s systems have already played a pivotal role in the conflict in Ukraine. The technology has helped destroy more than £3 billion worth of Russian military assets, including two advanced S-400 air defence systems.
OVERMATCH is structured around four pillars: BUILD, NETWORK, SCALE and PARTNER. These aim to create UK Centres of Excellence, develop European testing infrastructure, establish agile production hubs, and foster cross-border defence collaboration.
“Our experience deploying autonomous systems in Ukraine has shown us that the future of defence is about agility more than anything,” said Ricardo Mendes, CEO of TEKEVER. “This latest funding round will help us deliver that mission, and the continued backing from our investors reflects their confidence in our vision, technology and long-term success.”
John Ridge, Chief Adoption Officer at the NATO Innovation Fund, praised TEKEVER’s track record: “Their mission focus and adaptability made them one of the most successful drone providers into Ukraine through Task Force Kindred.” He added, “We are committed to fully supporting TEKEVER’s Project Overmatch, which will catalyse the development of AI and autonomy in the UK.”
Mo El Husseiny, Managing Partner at Ventura Capital, commented: “TEKEVER is a flagship investment in Ventura’s portfolio of disruptive technology companies with market-leading technology, thousands of hours of operational experience and a uniquely profitable, sustainable business model.”
Chris Evdaimon, Investment Manager at Baillie Gifford, stated: “With its vertically-integrated model and extensive operational experience in Ukraine, TEKEVER is driving the transformation of Europe’s defence capabilities.”
TEKEVER’s strategic move is set to reshape the European defence sector, positioning the UK at the forefront of autonomous, AI-led military innovation.
