UK drone maker founded by Ukrainians hits £4.5bn value after raising £500m

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UForce, a London-based military drone maker founded by Ukrainians, has raised more than £500 million at a £4.5 billion valuation. The UK’s national wealth fund invested £113 million, and the company’s drones have been used in the war in Ukraine.

Britain’s national wealth fund invests £113m in UForce, whose equipment has been used heavily in war with Russia A London-based naval drone maker founded by Ukrainians has reached a £4.5bn valuation after it raised more than £500m from investors including the UK government. UForce, which makes military drones for land, air and sea, received £113m from the UK’s national wealth fund. The investment makes UForce one of the UK’s fastest-growing unicorns – or startups with a valuation of more than $1bn. Its drones have been used extensively in the war in Ukraine. Continue reading...