Houlihan Lokey Advises TEKEVER

Houlihan Lokey is pleased to announce that TEKEVER, Europe’s leader in AI-centric unmanned aerial systems, has successfully completed a €70 million growth equity raise. The strategic growth equity round was led by Baillie Gifford and included participation from the NATO Innovation Fund, the U.K.’s National Security Strategic Investment Fund (NSSIF), and Crescent Cove Advisors LP, among others. The transaction closed on 25 October 2024.

TEKEVER is Europe’s leader in AI-centric unmanned aerial systems (UAS) serving both military and commercial end markets. The company designs and produces highly differentiated unmanned aircraft and offers a managed intelligence, surveillance, and reconnaissance (ISR) service to its global customer base. TEKEVER’s vertically integrated business model, based on deep expertise in both hardware and software, enables the company to deliver unmatched results for its customers and respond to rapidly evolving mission demands.

The Series B round of €70 million was led by Baillie Gifford and supported by strategic investors, including the NATO Innovation Fund (NIF), the U.K.’s NSSIF, Crescent Cove Advisors LP, Iberis Capital, and Cedrus Capital. Together, the investor group brings unmatched expertise and global perspectives, helping TEKEVER drive forward its vision to redefine security and defence.

TEKEVER will use the investment to accelerate R&D focused on enhancing and developing cutting-edge UAS technologies, expanding global production, delivery, and support to meet growing demand, and strengthening its position as a trusted partner in global security and defence markets.

Houlihan Lokey served as the lead financial advisor to TEKEVER on its Series B fundraising. This transaction underscores Houlihan Lokey’s expertise and leadership in the global Aerospace & Defense (A&D) sector and private capital markets, marking a significant milestone in the rapidly growing defense technology sector. It also highlights the firm’s ability to deliver exceptional outcomes through collaboration across its A&D practice, Iberian network, and Equity Private Placement capability in complex transactions.

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