London Drone Startup UForce in Talks for $5 Billion Valuation Funding Round
London-based drone startup UForce is in talks to raise about $500 million in a new funding round led by Valor Equity Partners, at a valuation of roughly $5 billion. The company, which aggregates Ukrainian manufacturers of drones and unmanned vehicles, aims to provide NATO-compatible integrated combat systems. Its previous $50 million round in March valued it at over $1 billion.
London-based drone startup UForce is in discussions for a new funding round that would value the company at approximately $5 billion, as it seeks to raise about $500 million with Valor Equity Partners as the lead investor.
Valor Equity Partners is run by Antonio Gracias, a SpaceX board member and ally of Elon Musk.
UForce operates as a platform bringing together experienced Ukrainian manufacturers of drones, maritime vessels, and land vehicles, including the makers of the Magura maritime drone, the Nemesis bomber, and counter-drone systems. The company aims to deliver an integrated combat system compatible with NATO standards, in response to Europe's accelerated expansion of its drone arsenals.
UForce's previous funding round was in March, led by Shield Capital and Lakestar, raising $50 million at a valuation exceeding $1 billion.