Ukraine’s UFORCE Raises $700 Million at $6 Billion Valuation

UFORCE, a defense-technology company founded in Ukraine, raised $700 million in a Series A round that values it at $6 billion, one of the largest private financings yet for a maker of battlefield drones.

Valor Equity Partners and Britain’s state-backed National Wealth Fund co-led the round. The U.S.-Ukraine Reconstruction Investment Fund, set up under the minerals and reconstruction pact between Washington and Kyiv, also invested, in what it called its largest emerging-technology deal so far. Menlo Ventures, Xantium and Hiro Capital joined, and existing backers including Shield Capital, Ballistic Ventures, Lakestar and Squadra added to their stakes. Retired Gen. Christopher Cavoli, the former NATO supreme allied commander and now a Valor partner, joins the board.

Six times the value in eight months

The valuation is a sharp step up from March, when UFORCE raised $50 million at about $1 billion. Chief Executive Oleg Rogynskyy said bookings have more than doubled over the past year from a base of several hundred million dollars, and that the company turned down offers at higher valuations to bring in this investor group. He didn’t give exact figures.

UFORCE, headquartered in London with hubs in Kyiv and Washington, builds uncrewed systems for sea, air and land. Its MAGURA sea drones have been credited with helping destroy more than a dozen Russian warships in the Black Sea, and its NEMESIS strike drones have flown more than 300,000 combat missions, the company says. It also makes LIUT ground robots, PREDATOR counter-drone turrets and command software.

Building closer to customers

The money will pay for factories in Ukraine and allied countries so production can continue despite Russian strikes and units can be built near the customers that buy them. UFORCE recently teamed with ReconCraft to build MAGURA boats in the U.S. and is a founding member of the EU-Ukraine Drone Alliance. The company says Ukraine’s own needs come first.

The round extends a run of large checks for defense startups, after Shield AI, Firehawk and Onodrim raised money in recent weeks. One industry tally put venture funding for defense and security startups in NATO and allied countries at $27.1 billion through September, nearly double all of 2025.