Investment in UK's Defense Infrastructure: The Overmatch Programme

You might be forgiven for thinking Europe had just two big drone makers — Germany’s Helsing and Quantum Systems — given how many headlines both attract.

But there’s a third defence tech unicorn on the continent: Lisbon-based surveillance drones maker Tekever.

Its drones are used all over the world — by the European Maritime Safety Agency to survey the coastline around Europe and by the UK Home Office to keep an eye on the English Channel, by the Spanish police and Brazilian Navy and — unsurprisingly — in Ukraine.

Tekever was founded way back in 2001 and bootstrapped for its first 21 years, but in May this year raised €70m in a round led by Baillie Gifford and the Nato Innovation Fund. It also announced plans to invest £400m to build drones in the UK alongside the country’s Royal Air Force — and create thousands of jobs.

On this episode of the Sifted Podcast, host Amy Lewin and senior reporter Freya Pratty discuss why Tekever’s investors are so bullish on the company, how it compares to competitors and what else is on its roadmap.