Ukraine Drone Maker UFORCE Values At $6B

Ukrainian defense technology firm UFORCE secured $700 million in new funding, setting a post-money valuation of $6 billion. The capital raise marks a sharp increase from a $1 billion valuation assigned to the company just eight months ago in March.

Valor Equity Partners and the U.K.'s National Wealth Fund co-led the Series A round. Investors from Silicon Valley, Europe, and Asia also participated in the deal, which was announced Thursday.

CEO Oleg Rogynskyy stated that company bookings more than doubled over the past year, starting from a base of several hundred million dollars. While he declined to provide exact figures, he argued that the financial performance supports the new valuation. Rogynskyy noted that UFORCE received offers at higher valuations but selected this round due to the investor composition. "In terms of valuation to bookings, valuation to revenue, this is actually not an aggressive valuation," he said.

The company will deploy the new capital to expand manufacturing operations in Ukraine and allied nations, including the United States, Europe, Asia-Pacific, and the Middle East. Rogynskyy claimed UFORCE has produced ten times as many unmanned surface vessels as its main competitors, though CNBC could not independently verify that comparison. The firm aims to substantially increase its manufacturing capacity.

This expansion aligns with a wider trend in defense spending. Startups in NATO and allied countries raised $27.1 billion through September, nearly double the total for all of 2025, according to an October report from Dealroom and Resilience Media. Militaries are increasingly adopting drones to offset the costs of traditional crewed equipment like tanks and fighter jets.

UFORCE reports that its NEMESIS drones have completed over 300,000 combat flights. Its MAGURA naval vessels have helped destroy more than a dozen Russian warships in the Black Sea. The company is currently working with several NATO nations but did not name specific customers. Rogynskyy said UFORCE prioritizes Ukrainian military needs before fulfilling overseas demand.

"We are very careful about that, and we make sure that we deliver on all Ukrainian needs first and foremost," Rogynskyy said. He added that Ukrainian firms benefit from direct battlefield feedback, which accelerates innovation compared to established Western defense primes. Rogynskyy predicted that autonomous systems will gradually replace human-operated equipment, stating that he cannot envision militaries buying new crewed aircraft or frigates in ten years.

The company develops unmanned aerial, maritime, and land systems alongside AI software for coordination. UFORCE previously raised $50 million at a valuation of approximately $1 billion in March.