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Ukrainian defense tech startup hits $6 billion valuation as investors bet on battle-tested drones

By · Published by Everything Blog

In short

The $6 billion valuation represents a dramatic sixfold increase since March, fueled by institutional backers from the United States, Europe, and Asia. UFORCE intends to deploy this new capital to expand production facilities in Ukraine, the United States, Europe, the Middle East, and the Asia-Pacific region. Although the manufacturer is currently engaged with multiple NATO partners, leadership reiterated that satisfying Ukraine's frontline inventory remains the immediate operational priority.

Key points

  • Direct feedback from Ukrainian combat forces enables software and hardware development cy…: Direct feedback from Ukrainian combat forces enables software and hardware development cycles that outpace legacy Western contractors.
  • Total bookings for UFORCE have more than doubled over the past year from an initial base…: Total bookings for UFORCE have more than doubled over the past year from an initial base of several hundred million dollars.
  • Production lines will expand across Ukraine and multiple allied continents while maintain…: Production lines will expand across Ukraine and multiple allied continents while maintaining supply priority for Ukrainian military forces.

Sources checked by our analysis pipeline: 1

Ukrainian defense technology company UFORCE has raised $700 million in a funding round valuing it at $6 billion, as investor interest grows in autonomous weapons systems tested on the battlefield in Ukraine.

UFORCE, which develops unmanned aerial, maritime, and land systems as well as AI software used to coordinate them, raised $50 million at a valuation of around $1 billion in March.

The Series A round was co-led by Valor Equity Partners and the U.K.'s National Wealth Fund, with participation from investors across Silicon Valley, Europe and Asia, the company announced Thursday.

UFORCE CEO Oleg Rogynskyy told CNBC that the company's bookings have more than doubled over the past year, from a base of several hundred million dollars, but declined to disclose more exact figures.

He said the company's financial performance justified its latest valuation, adding that UFORCE had received offers from investors at even higher valuations.

"We were getting offers with much higher valuation, but we chose this one because of Valor and the rest of the investors," Rogynskyy said. “In terms of valuation to bookings, valuation to revenue,…

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