Iron Wolf Capital participates in UFORCE’s $700M Series A funding round
UFORCE, a defence technology company founded in Ukraine and headquartered in London, with major hubs in Kyiv and Washington, DC, has raised a $700 million Series A at a $6 billion valuation.
Valor Equity Partners and the UK National Wealth Fund co-led the round, with participation from the U.S.–Ukraine Reconstruction Investment Fund (URIF) and EstVCA member Iron Wolf Capital. Menlo Ventures, Xantium and Hiro Capital also joined. Existing investors, including Shield Capital, Ballistic Ventures, Lakestar and Squadra, increased their stakes. General (Ret.)
As threats change faster than ever, armies need defence systems that are affordable, ready to use now and able to keep improving. UFORCE builds autonomous uncrewed platforms for sea, land and air, together with the AI software and command-and-control layer that operates them. Its products include the MAGURA uncrewed surface vessels, the NEMESIS strike drones, the LIUT ground robots and the PREDATOR counter-drone turrets. The company’s goal is to make defence a hundred times cheaper than offence.
The systems are already proven in combat. NEMESIS drones alone have flown more than 300,000 combat flights and are used by more than 100 units.
“The war in Ukraine has shown that in an increasingly volatile world, effective defence requires systems that can keep improving as threats change. Governments and the technology ecosystem need to come together to develop cost-effective, interoperable, and autonomous platforms that are ready to fight now, and can evolve to meet future needs. They are doing that by investing in UFORCE. This investment will help us scale production for Ukraine and bring to allies solutions they can field, integrate and sustain at the speed of modern combat. UFORCE and our investors are united in our determination to make aggression unaffordable,” said Oleg Rogynskyy, Chief Executive Officer of UFORCE.
“From the Baltic Sea Region, we see every day how much Europe’s security depends on what Ukraine is learning on the battlefield. UFORCE turns that experience into systems allies can field today and build at home tomorrow. We’re proud to back a team that is making Europe’s defence both stronger and more affordable,” said Kasparas Jurgelionis, Managing Partner at Iron Wolf Capital.
UFORCE will use the funding to:
- spread its production across the US, Europe, Asia-Pacific and the Middle East, closer to where the systems are needed, and help allies build their own manufacturing capacity
- keep production running for front-line troops in Ukraine despite continued attacks
- expand R&D and increase production of the MAGURA, NEMESIS, LIUT and PREDATOR product families
- scale US manufacturing of MAGURA vessels through its partnership with ReconCraft, and convert existing maritime and automotive manufacturing capacity to defence use
- deepen its role as a founding member of the EU-Ukraine Drone Alliance and build on its NATO and Joint Expeditionary Force partnerships
With sovereign funds from the UK and the US investing alongside leading tech investors, the round shows that battle-proven Ukrainian defence technology is becoming a core part of how Europe and its allies plan to rebuild their defence capacity.
Newer
There are no newer news
