Tekever €508m

Tekever, the Portuguese autonomous-systems maker, announced the first close of a €508m Series D at a €5.6bn valuation, co-led by UC Investments and Baillie Gifford.

Tekever holds a €508m first close of its Series D at a €5.6bn valuation

Tekever, the Portuguese autonomous-systems maker, announced the first close of a €508m Series D at a €5.6bn valuation, co-led by UC Investments and Baillie Gifford. Its AR5 drone underpins CORVUS, a British Army surveillance program. Further closings are expected.

[Investors] UC Investments · Baillie Gifford · Merlyn Advisors · Crescent Cove · Ventura Capital · Iberis Capital

DTCP holds a €455M first close on Defence Fund I

Hamburg-based DTCP held the first close of DTCP Defence Fund I at €455 million in commitments, against a €500 million target set in January. Backers include Deutsche Telekom, Porsche SE, Denmark's EIFO and Danica Pension, and Estonia's SmartCap. The fund targets Series B and later rounds in AI, autonomous systems, secure communications and space, mainly in Europe, and has already backed Six Robotics and Kraken Technology. These are commitments, not capital deployed, and DTCP has not called it a final close.

[Investors] Deutsche Telekom · Porsche SE · EIFO · Danica Pension · SmartCap

Buntar Aerospace raises €14.3M led by Freedom Fund for reconnaissance drones

Ukrainian reconnaissance-drone maker Buntar Aerospace raised €14.3M in a round led by Freedom Fund and an undisclosed international private equity fund, with Gardar, Iron Wolf Capital and Autonomy Capital participating. It takes the company's total raised to €27m; the money goes into R&D, production capacity and taking its drones and mission software to international markets.

[Investors] Freedom Fund · Gardar · Iron Wolf Capital · Autonomy Capital

Osavul raises €8.5M Series A led by 33N Ventures to detect hybrid threats

Osavul, a Ukraine-born, Luxembourg-headquartered company whose AI platform uses open-source intelligence to detect disinformation campaigns and hostile intent across the information, cyber and physical domains, raised an €8.5 million Series A led by 33N Ventures with Balnord, G+D Ventures and existing investor 42CAP. Its customers are governments and defense and security institutions in more than ten countries, and it is one of three companies delivering NATO's Information Environment Assessment Capability; the round brings total funding to about €12 million.

[Investors] 33N Ventures · Balnord · G+D Ventures · 42CAP

Estonian-Ukrainian autonomy startup DoD Solution closes €1.8 million pre-seed round

DoD Solution, an Estonian-Ukrainian company building onboard autonomy for unmanned systems, closed a €1.8 million pre-seed round with participation from Angel One, Better Angle, Defence Builder Fund I, Network VC, Newfund, UAID Fund, WildField Ventures and 4C-Next Holding AG, plus Canadian drone maker Draganfly as a strategic investor. Its combat-proven AURA AI platform pairs the AURA SBC onboard computer with the AURA OS autonomy stack for navigation, target recognition and terminal guidance when GPS or communications fail; the money funds production of the next-generation AURA SBC.

[Investors] Angel One · Better Angle · Defence Builder Fund I · Network VC · Newfund · UAID Fund · WildField Ventures · 4C-Next Holding AG · Draganfly

Ukrainian drone gimbal maker M-FLY closes a new round led by MITS Capital

M-FLY, a Ukrainian maker of laser-guidance systems and gimbals for unmanned vehicles, closed a new round led by MITS Capital with Freedom Fund, Gardar and one undisclosed investor. The amount was not disclosed; the money goes into scaling production of the RB-100 gimbal for small drones, due in early 2027.

[Investors] MITS Capital · Freedom Fund · Gardar

Occam Industries raises €3.8M, its second round in a year, led by North Ventures

Occam Industries, a British-Ukrainian developer of autonomy software for drones, raised €3.8M in its second round in a year, led by Denmark's North Ventures with Sparkmind, Grenadyr, Antler, Presto Tech Horizons, TYR.vc and Freedom Fund. It works with four Ukrainian drone manufacturers and 12 units of Ukraine's armed forces, and has now raised €7M in total.

[Investors] North Ventures · Sparkmind · Grenadyr · Antler · Presto Tech Horizons · TYR.vc · Freedom Fund

Rohde & Schwarz acquires NEOSAT, a Bundeswehr-university spin-off in satellite communications

Rohde & Schwarz has acquired NEOSAT, a Dresden company founded in 2018 at the Universität der Bundeswehr München, which develops multi-antenna satellite systems, satellite IoT connectivity and communication payloads. It was bought alongside PHYTRONIC to build out the group's space business in secure communications, which Rohde & Schwarz calls a critical capability for the Bundeswehr. No deal value was disclosed.

Rohde & Schwarz acquires PHYTRONIC, a Dresden waveform-design specialist

Rohde & Schwarz has acquired PHYTRONIC, a Dresden company founded in 2023 that designs waveforms for space and avionics communication systems and secure links for aviation, space and terrestrial sensing. It was bought alongside NEOSAT to build out the group's space business in secure communications. No deal value was disclosed.