Tuesday, 02 January 2024 12:17 GMT

Uforce Reaches $6 Billion Valuation With British Backing Arabian Post


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(MENAFN- The Arabian Post) clearfix"> London-based defence technology company Uforce has secured a valuation of approximately $6 billion through a $700 million financing round backed by Britain's National Wealth Fund, marking a significant expansion of government-supported investment in military drone technology.

The financing represents the state-owned fund's largest defence investment, strengthening its involvement in a sector receiving increased attention from the British government. Uforce, established by Ukrainian entrepreneurs and headquartered in London, develops autonomous military systems for operations across land, sea and air.

The transaction follows earlier fundraising discussions that placed Uforce's prospective valuation at approximately $5 billion. The higher valuation reflects growing investor interest in battlefield-tested unmanned systems, particularly technologies developed through Ukraine's military operations against Russian forces.

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The Arabian Post

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