Portuguese unicorn Tekever is reportedly preparing for a $500 million investment round, which would increase its valuation from the current $1.2 billion to $5.5 billion. The national drone and artificial intelligence technology manufacturer could benefit from the current moment of growth in venture capital investment in the defense sector in Europe.
Since the beginning of the year, European defense technology companies have raised $4.9 billion, a figure that already exceeds the $2.6 billion raised throughout all of last year, according to the data referenced in the article.
More than half of the investment raised by these European defense companies comes from outside Europe, according to data from Atomico cited in the State of European Tech Newsletter. The article also mentions that German defense technology raised 78% of European funding, although this sentence is incomplete due to the paywall.
Despite the predominance of external investment, the landscape could change. According to the article, European pension funds and prime companies are beginning to invest in this sector, which could balance the origin of funds in the coming period.
