FundingRounds, leads & terms
Uforce raises $700M Series A at $6B valuation, co-led by Valor Equity Partners and UK National Wealth Fund
Uforce, a drone maker founded in Ukraine and headquartered in London, raised a $700 million Series A at a $6 billion post-money valuation. Valor Equity Partners and the UK's National Wealth Fund co-led the round, which will scale production of uncrewed systems and command software.
From the Sifted article of November 12, 2026 and cited sources: Uforce's valuation rose about sixfold in roughly eight months. [2] [4] [5] [6]
SOURCES[2] Tech.eu: UFORCE raises $700M Series A at $6B valuation tech.eu[4] Dealroom: UFORCE hits $1B valuation dealroom.co[5] Bloomberg: UFORCE tops $1B valuation bloomberg.com
AT Pulse research deskPublished · Updated · 5 min read · AI-assisted analysisAI-assisted, not human-edited. Methodology Corrections Who owns this site
- Original source
- Sifted article, independent perspective
- Brief by
- AT Pulse research desk AI-assisted; publisher and contact on the desk page
- When
- November 12, 2026 article published
- Covered
- Nov 12 edition
- Evidence
- 12 sources across 10 sites
- 1Sifted: Drone startup Uforce raises $700msifted.eu
- 2Tech.eu: UFORCE raises $700M Series A at $6B valuationtech.eu
- 3Tech Funding News: Uforce raises $700M at $6Btechfundingnews.com
- 4Dealroom: UFORCE hits $1B valuationdealroom.co
- 5Bloomberg: UFORCE tops $1B valuationbloomberg.com
- 6TNW: Valor to lead $500m Uforce roundthenextweb.com
Reach: not measured yet
Uforce's valuation rose about sixfold in roughly eight months. In March 2026 it came out of stealth with a $50M seed round led by Shield Capital and Lakestar, valued above $1B. In September, talks were reported for about $500M at roughly $5B. The round that closed was $200M larger, at $6B. [2] [4] [5] [6]
The National Wealth Fund's stake is reported at about $150M (£113M). Press reports describe it as the fund's largest defence investment so far, well above its £25M direct investment in Rowden in May 2026. Retired General Christopher Cavoli, a Valor partner and former NATO Supreme Allied Commander Europe, joins the board. [1] [3] [7] [12]
Uforce grows by buying established Ukrainian drone makers. Its product line covers the MAGURA sea drones, NEMESIS strike drones, LIUT ground robots, PREDATOR counter-drone turrets and command-and-control software. The CEO says two more acquisitions are closing, and a deal with ReconCraft covers building MAGURA boats in the US. [2] [8] [9] [10]
The case for the valuation rests on figures the company reports itself. The CEO says bookings have more than doubled from several hundred million dollars but gives no exact numbers. The company also cites more than 12 warships destroyed and more than 300,000 NEMESIS flights. March coverage cited 150,000+ missions. [2] [4] [11]
a UK state fund co-led the round, and Uforce plans production in the US, Europe, Asia-Pacific and the Middle East.
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Implication: allied governments may increasingly back their own supply chains for low-cost autonomous systems, though the commercial case remains thinly documented.
I've gathered enough coverage and am writing the dossier now.
Executive brief
UFORCE's valuation went from about $1 billion to $6 billion in roughly eight months. The company was founded in Ukraine, is now headquartered in London, and was put together from Ukrainian drone makers. On 12 November 2026 it announced a $700M Series A at a $6B post-money valuation. Valor Equity Partners and the UK's National Wealth Fund (NWF) co-led the round (Tech.eu). The NWF's share was reportedly about $150M (£113M), which press reports call the fund's largest defence investment so far (Tech Funding News). The money is meant to scale production of uncrewed boats, aircraft and ground robots, plus their command software. No independent source confirms the company's revenue or its combat claims.
What changed and event timeline
Exits stealth as a unicorn
UFORCE raised a $50M seed round at a valuation above $1B. Reports describe the company as a combination of nine Ukrainian companies (;).
Valor-led round surfaces
Bloomberg, citing unnamed sources, reported talks to raise about $500M at roughly $5B and said terms could change ().
Wealth fund involvement reported
The Financial Times reported that the NWF planned to invest but gave no size. Neither party commented ().
Capabilities and access
UFORCE sells a product line rather than a single model (Tech.eu): The CEO describes NEMESIS variants that can carry bombs, act as one-way attack drones, do surveillance or jamming, and launch interceptors (Tectonic). Buyers are governments. Ukraine is the main customer, and the company says it works with "several NATO countries" without naming them (TFN).
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UFORCE sells a product line rather than a single model (Tech.eu):
- MAGURA: uncrewed surface vessels (drone boats).
- NEMESIS: strike drones.
- LIUT: ground robots.
- PREDATOR: turrets for shooting down drones.
- C2 software: command-and-control software that coordinates the systems.
The CEO describes NEMESIS variants that can carry bombs, act as one-way attack drones, do surveillance or jamming, and launch interceptors (Tectonic). Buyers are governments. Ukraine is the main customer, and the company says it works with "several NATO countries" without naming them (TFN). A deal with ReconCraft covers building MAGURA boats in the US (Tectonic).
Technical analysis for researchers and developers
There is little public technical documentation. In interviews, CEO Oleg Rogynskyy (founder of People.ai) makes these points (Tectonic): No architecture papers, autonomy benchmarks, failure rates or third-party test results are public. The company's evidence is usage counts from combat, not controlled evaluations. Integrating with existing C2 systems is the main implementation claim. It matters for allied buyers, but no outside source has verified it.
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There is little public technical documentation. In interviews, CEO Oleg Rogynskyy (founder of People.ai) makes these points (Tectonic):
- The platforms are platform-agnostic and run on a shared codebase.
- They integrate with existing third-party C2 systems.
- They support swarm coordination and can be upgraded at scale.
- Autonomy is now essential, because platforms that are not autonomous "don't work anymore" on today's battlefield.
No architecture papers, autonomy benchmarks, failure rates or third-party test results are public. The company's evidence is usage counts from combat, not controlled evaluations. Integrating with existing C2 systems is the main implementation claim. It matters for allied buyers, but no outside source has verified it.
Claims and evidence
- Round size ($700M) and valuation ($6B): company-announced and reported consistently (Tech.eu; Resilience Media). No regulatory filing in the reviewed sources confirms them.
- NWF's $150M/£113M stake: reported in the press (TFN; Implicator). It does not appear in any NWF release among the reviewed sources.
- Bookings more than doubled from "several hundred million dollars": self-reported by the CEO, who gave no exact figures or customer names (Implicator).
Read the full section
- Round size ($700M) and valuation ($6B): company-announced and reported consistently (Tech.eu; Resilience Media). No regulatory filing in the reviewed sources confirms them.
- NWF's $150M/£113M stake: reported in the press (TFN; Implicator). It does not appear in any NWF release among the reviewed sources.
- Bookings more than doubled from "several hundred million dollars": self-reported by the CEO, who gave no exact figures or customer names (Implicator).
- Combat record (12+ warships destroyed; 300,000+ NEMESIS flights): company claims (Tech.eu). The March coverage cited 150,000+ missions (Dealroom). No independent source confirms either figure.
Context and prior work
UFORCE grows by buying up proven Ukrainian drone makers, and the CEO says two more acquisitions are closing (Resilience Media; Tectonic). It is backed by politically connected figures: The NWF's earlier direct defence deal was £25M in Rowden in May 2026 (NWF). For comparison, Helsing reached about $18B and Quantum Systems about $8B in 2026 (TNW).
Read the full section
UFORCE grows by buying up proven Ukrainian drone makers, and the CEO says two more acquisitions are closing (Resilience Media; Tectonic). It is backed by politically connected figures:
- Chairman: former Ukrainian Prime Minister Oleksii Honcharuk.
- Board: former UK Defence Secretary Ben Wallace.
- Lead investor: Valor, led by Antonio Gracias. Valor has backed Anduril and Hadrian (TNW).
The NWF's earlier direct defence deal was £25M in Rowden in May 2026 (NWF). For comparison, Helsing reached about $18B and Quantum Systems about $8B in 2026 (TNW).
Limitations, safety and contested findings
- Investor lists differ. Resilience Media adds Expeditions and Hedosophia, which Tech.eu does not list (Resilience Media).
- The company's mission counts differ between March and November coverage.
- These are autonomous lethal systems sold as exports. No outside review of those controls is cited.
Read the full section
- Investor lists differ. Resilience Media adds Expeditions and Hedosophia, which Tech.eu does not list (Resilience Media).
- Combat figures disagree. The company's mission counts differ between March and November coverage.
- Weapons and exports. These are autonomous lethal systems sold as exports. The CEO calls ITAR compliance (US arms-export controls) "thorough" and says Ukraine's export regime is aligned with it (Tectonic). No outside review of those controls is cited.
- Valuation basis. The CEO calls the valuation "not aggressive" relative to bookings, but has not released the numbers that would test that (Implicator).
Business and practitioner implications
- A state fund co-leading the round signals UK industrial-policy backing for UFORCE's expansion, including high-skilled UK jobs, according to NWF CEO Oliver Holbourn (Tech.eu).
- Planned production in the US, Europe, Asia-Pacific and the Middle East points to sovereign, allied supply chains for low-cost uncrewed systems.
- For developers, demand appears to be shifting toward interoperable autonomy and software that works across sea, air and land.
Read the full section
- A state fund co-leading the round signals UK industrial-policy backing for UFORCE's expansion, including high-skilled UK jobs, according to NWF CEO Oliver Holbourn (Tech.eu).
- Planned production in the US, Europe, Asia-Pacific and the Middle East points to sovereign, allied supply chains for low-cost uncrewed systems.
- For developers, demand appears to be shifting toward interoperable autonomy and software that works across sea, air and land.
- For investors, the valuation rests on self-reported bookings and combat claims that no one outside the company has verified.