Portuguese drone company Tekever has raised more than €500 million in a new funding round, according to Observador. The investment lifts the company's valuation above €5.5 billion, the outlet reported on Wednesday.
Observador describes the deal as an international fundraising effort. Dinheiro Vivo puts the valuation at €5.6 billion. Tek Notícias reports that the company becomes the most valuable ever to be headquartered in Portugal.
The funding points to continued investor interest in European defense and aerospace technology. According to Jornal de Negócios, Tekever is also looking at further acquisitions and has pointed toward a future IPO. Expresso reports the company has admitted it may pursue additional acquisitions following the raise.
The exact structure of the round, the identity of the investors and how the proceeds will be allocated were not detailed in the material available. Observador and the other outlets did not specify a timeline for any listing or acquisition.
What to watch next: whether Tekever confirms the investors behind the round and sets out concrete plans for the fresh capital, including any acquisition targets or IPO timeline.
