London-headquartered UFORCE has raised $700m (about £530m) in a Series A that values the uncrewed systems maker at $6bn (about £4.5bn). The UK National Wealth Fund co-led the round with Valor Equity Partners, roughly eight months after the company first passed a $1bn valuation.
UFORCE was founded in Ukraine and later moved its headquarters to London. It keeps major hubs in Kyiv and Washington DC. The group brings together several Ukrainian defence manufacturers and builds uncrewed systems for sea, air and land.
Its product families include the MAGURA uncrewed surface vessel, the NEMESIS aerial platform, the LIUT ground robot and the PREDATOR defensive turret. The company says its systems are combat-tested, though its operational claims have not been independently verified.
The deal
Valor Equity Partners and the National Wealth Fund (NWF) co-led the Series A. The NWF did not disclose the size of its cheque.
New investors include the US-Ukraine Reconstruction Investment Fund (URIF), Menlo Ventures, Xantium and Hiro Capital. A representative of the US International Development Finance Corporation described the cheque as URIF's largest emerging-technology investment to date. Its amount was not disclosed.
Existing backers Shield Capital, Ballistic Ventures, Lakestar and Squadra all increased their stakes. General (Ret.) Christopher G. Cavoli, a former NATO Supreme Allied Commander Europe and now a partner at Valor, joins the board.
The valuation step-up
UFORCE became a unicorn in March, when it raised $50m at a valuation of just over $1bn. The new price is close to six times that mark.
The round also came in above earlier market expectations. Reports in the autumn put UFORCE in talks to raise about $500m at around $5bn in a Valor-led deal. The final round is $200m larger and $1bn higher on valuation.
Ownership splits after the round were not disclosed. The $700m raised is equal to about 12% of the $6bn valuation. If that valuation is post-money, new money therefore owns about 12% of the company, spread across the incoming and existing investors who took part.
Use of funds
UFORCE plans to fund its Ukrainian operations, including staffing, research and development and new products. It also plans to expand and spread out production across the US, Europe, Asia-Pacific and the Middle East.
Part of that plan involves converting existing maritime and automotive factory capacity in allied countries to defence work. In the US, it will scale production of MAGURA vessels through a recently announced partnership with ReconCraft.
The policy backdrop
The deal is the most prominent use yet of the NWF's widened defence remit. In the Budget, Chancellor John Healey gave the fund an extra £15.4bn of capital and asked it to focus more closely on defence, critical minerals and AI.
The NWF and the British Business Bank will together make up to £5bn available over four years for defence and national security, including dual-use technology.
NWF chief executive Oliver Holbourn said the investment would bring the production, engineering and use of autonomous systems to the UK, along with high-skilled jobs and deeper domestic supply chains. UFORCE did not give a figure for UK hiring or for any new UK manufacturing site.
Original source: BusinessCloud: https://businesscloud.co.uk/news/london-based-uforce-raises-700m-at-huge-6bn-valuation/ (additional reporting: Tech.eu, https://tech.eu/2026/11/12/ukrainian-defence-tech-uforce-raises-700m-series-a-at-6b-valuation)
