UFORCE, the London-based defense technology company with hubs in Kyiv and Washington, D.C., has raised $700 million at a $6 billion valuation. Valor Equity Partners and the UK National Wealth Fund co-led the round, which UFORCE is calling a Series A.
The US-Ukraine Reconstruction Investment Fund, Menlo Ventures, Xantium and Hiro Capital also participated. Existing investors Shield Capital, Ballistic Ventures, Lakestar and Squadra increased their stakes.
UFORCE builds uncrewed systems for sea, land and air, along with the AI software, orchestration and command-and-control layer that operates them. Its lineup includes the MAGURA family of uncrewed surface vessels, the NEMESIS family of strike drones, LIUT ground robotic platforms and PREDATOR turret systems for countering enemy drones.
Key facts
- 01UFORCE raised $700 million in a Series A round at a $6 billion valuation.
- 02Valor Equity Partners and the UK National Wealth Fund co-led; URIF, Menlo Ventures, Xantium and Hiro Capital joined.
- 03The London-based company builds MAGURA sea drones, NEMESIS strike drones, LIUT ground robots and PREDATOR counter-drone turrets.
- 04UFORCE says NEMESIS Class 1 drones have flown more than 300,000 combat flights across 100-plus Ukrainian units.
- 05Retired U.S. Army General Christopher G. Cavoli, a Valor partner, joins the UFORCE board.
The company attaches combat numbers to those products. UFORCE says MAGURA vessels have contributed to the destruction of more than a dozen Russian warships in the Black Sea, and that NEMESIS Class 1 heavy strike drones have flown more than 300,000 combat flights and are in use with more than 100 Ukrainian units. Those figures are company-reported and have not been independently verified.
UFORCE says its goal is to make defense a hundred times cheaper than offensive operations. CEO Oleg Rogynskyy said the new money will help the company scale production for Ukraine and give allies systems they can field, integrate and sustain at the speed of modern combat.
Much of the capital is aimed at manufacturing. UFORCE plans to expand and distribute production across the US, Europe, Asia-Pacific and the Middle East, including sovereign manufacturing capacity for allied countries. It recently partnered with ReconCraft to expand MAGURA production in the US and is adapting maritime and automotive plants in allied countries for defense work.
The UK National Wealth Fund's stake is tied to British industry. The fund is backing UFORCE's expansion of UK production and engineering, and chief executive Oliver Holbourn said the deal will help create high-skilled jobs and strengthen domestic supply chains.
“Today's investment is a testament to the special relationship that the UK and Ukraine have fostered.”— Oliver Holbourn, Chief Executive Officer of the UK National Wealth Fund
Money from the US-Ukraine Reconstruction Investment Fund will support UFORCE's operations inside Ukraine, including staffing, research and new products.
Retired U.S. Army General Christopher G. Cavoli, the former NATO Supreme Allied Commander Europe and a partner at Valor, is joining the UFORCE board as part of the deal.
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