UFORCE said Thursday it raised $700 million to expand uncrewed defense production in Ukraine and allied markets; the UK National Wealth Fund disclosed a £113 million investment for British manufacturing.
Founded in Ukraine and headquartered in London, UFORCE develops uncrewed systems for sea, land and air, as well as software and command-and-control tools. Valor Equity Partners and the UK fund co-led the financing. UFORCE named the U.S.-Ukraine Reconstruction Investment Fund as another participant and stated a $6 billion valuation, without saying whether it was measured before or after the financing.
The National Wealth Fund describes itself as a public finance institution backed by the UK government and wholly owned by HM Treasury. It disclosed a £113 million ($150 million) equity investment in the round and called it the largest defense investment it has made to date. The fund said the money will support British manufacturing and engineering of MAGURA MV7 and MV11 vessels and NEMESIS systems. It expects the plans to create hundreds of high-skilled UK jobs and says British suppliers will provide more than 70% of the content in each MV-series boat built in the UK.
UFORCE said the funding will expand production capacity in the United States, Europe, Asia-Pacific and the Middle East, while supporting continuous production in Ukraine. Separately, it plans increased production and research and development for MAGURA sea vessels, NEMESIS aerial systems, LIUT ground systems and PREDATOR turrets.
The company also named Menlo Ventures, Xantium and Hiro Capital among the round’s investors. It said existing backers Shield Capital, Ballistic Ventures, Lakestar and Squadra increased their stakes. Chief Executive Oleg Rogynskyy said the financing would “help us scale production for Ukraine.”
UFORCE said General (Ret.) Christopher G. Cavoli joined its board. Cavoli previously served as NATO Supreme Allied Commander Europe and is a partner at Valor Equity Partners. The company did not provide amounts for the other investors or a production timetable.
