UPTEC-based startup is the latest Portuguese unicorn
TEKEVER has surpassed one billion dollars in valuation after a new round of funding
After its most recent funding round, UPTEC-based company TEKEVER has turned into the latest Portuguese unicorn, surpassing one billion dollars in valuation.
"This milestone is the result of the exceptional talent, integrity, and spirit of the entire TEKEVER team, which is now almost 1000 strong. Across every site and every function, we’ve worked with a sense of mission and purpose that has allowed us to succeed where few can. Our very strong culture, based on principles like empathy, problem solving, speed and agility brought us here, and it will continue propelling us into the future," said Ricardo Mendes, the company's co-founder and CEO.
Founded in 2001, TEKEVER develops innovative technologies for the aerospace, defence, and security markets, with engineering centres in the UK, Portugal, and France, along with production facilities in various European markets and operational support teams throughout Europe.
The company's systems are used in missions by the European Border and Coast Guard Agency (Frontex) and various European navies and armed forces, in addition to the direct operational support provided to Ukraine.
Among the investors participating in TEKEVER's latest funding are Ventura Capital, a global technology investment company, the NATO Innovation Fund, Portugal's Iberis Capital, and Crescent Cove, a US-based asset manager specialising in technology and defence investments.
This latest announcement comes immediately after TEKEVER announced a new 400 million pound investment in the UK market over the next five years, leading to the creation of 1,000 jobs in the country.
TEKEVER is now the seventh Portuguese unicorn, joining Talkdesk, Feedzai, Outsytems, Remote, Anchorage, and Sword Health. With this latest addition, Porto now has 9 unicorn companies with local offices.
