UFORCE, a defence technology company founded in Ukraine and headquartered in London, has raised $700 million in a Series A round at a valuation of $6 billion, according to a company press release dated 12 November 2026. UFORCE makes the MAGURA family of uncrewed surface vessels, or sea drones, along with aerial, ground and counter-drone systems and the software that controls them. The Recursive reported the round as €630 million at a €5.4 billion valuation.

The investors

According to the release, Valor Equity Partners and the UK National Wealth Fund (NWF) co-led the round, with participation from the US–Ukraine Reconstruction Investment Fund (URIF). The release also names Menlo Ventures, Xantium and Hiro Capital among the investors, and says existing investors Shield Capital, Ballistic Ventures, Lakestar and Squadra increased their stakes.

The release does not give individual amounts. Tech Funding News, citing Bloomberg, reported that the NWF put in $150 million and that this was the fund’s largest defence investment. The release says URIF’s investment will support UFORCE’s operations in Ukraine, “including staffing, research and development, and new product development.” Conor Coleman, head of investments at the US International Development Finance Corporation, said on behalf of URIF that the deal is “URIF’s largest investment in the emerging technology sector to date.”

Retired General Christopher G. Cavoli, a former NATO Supreme Allied Commander Europe and a partner at Valor, is joining UFORCE’s board, according to the release.

What the money is for

The company said the funding will be used to expand and distribute its production capacity across the US, Europe, Asia-Pacific and the Middle East, and to “maintain continuous production and supply front-line troops with uncrewed systems despite continued attacks in Ukraine.” It said the money will also support research and development and increased production of its MAGURA, NEMESIS, LIUT and PREDATOR product families. The release mentions a partnership with ReconCraft to build MAGURA vessels in the US, and UFORCE’s role as a founding member of the EU–Ukraine Drone Alliance.

Statements

Chief executive Oleg Rogynskyy said in the release: “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.” Oliver Holbourn, chief executive of the NWF, said: “Today’s investment is a testament to the special relationship that the UK and Ukraine have fostered.” Holbourn said the investment would bring production and engineering of UFORCE’s systems to the UK and help create high-skilled jobs.

Rogynskyy told CNBC that UFORCE had received offers at higher valuations: “We were getting offers with much higher valuation, but we chose this one because of Valor and the rest of the investors.” Asked whether foreign demand could draw supply away from Ukraine, he told CNBC: “We are very careful about that, and we make sure that we deliver on all Ukrainian needs first and foremost.”

Company claims about its systems

The following claims come from UFORCE and the officials quoted in its release. Lens has not verified them.

  • The MAGURA family “has contributed to the destruction of more than a dozen Russian warships in the Black Sea and has shot down multiple helicopters and fighter aircraft in combat,” according to the release.
  • NEMESIS heavy strike drones have flown “more than 300,000 combat flights” and have been adopted by more than 100 units, the release says.
  • Bookings more than doubled over the past year from a base of several hundred million dollars, Rogynskyy told CNBC. He did not give exact figures. In March, the company reported “nine-figure bookings in 2025” and growth of close to 500 percent; Resilience Media reported growth of 450 percent in 2025.
  • Oleksandr Karasevych, state secretary of Ukraine’s foreign ministry and a URIF board member, said in the release that “MAGURA has sunk enemy warships, while NEMESIS has proven its value on the frontline.”

Earlier funding

UFORCE came out of stealth on 5 March 2026 with an initial funding round led by Shield Capital and Lakestar, with participation from Ballistic Ventures, according to its release that day. That release did not state the amount. Resilience Media reported the round as $50 million at a valuation above $1 billion and called it a seed round. The Recursive gave the March round as €45 million.

On 30 October 2026, TNW reported that the Financial Times had first reported the NWF’s plan to invest in UFORCE. TNW also described reported talks to raise about $500 million at a valuation of about $5 billion, led by Valor. The round announced on 12 November is $700 million at $6 billion.

Who runs the company

UFORCE’s website lists Oleg Rogynskyy as chief executive and Oleksiy Honcharuk, Ukraine’s prime minister from 2019 to 2020, as board chairman. Resilience Media and The Recursive describe both as co-founders. Rogynskyy previously founded People.ai, a sales software company. UFORCE’s March release also named Ben Wallace, the former UK defence secretary, as part of its team, and the company’s newsroom lists the appointment of Sean Plankey as chief executive of its US business. In March, UFORCE said it had more than 1,000 staff and a supply chain spanning more than 15 locations in six allied countries.

Sources and notes

Read in full: UFORCE’s 12 November 2026 release, its 5 March 2026 release and its company page. Read as summaries through a web reader: CNBC (Elsa Ohlen, 12 November 2026), Tech.eu (12 November), The Recursive (12 November), Tech Funding News (12 November), Resilience Media (5 March 2026) and TNW (30 October 2026). Lens did not read the Bloomberg or Financial Times reports, so the NWF’s $150 million and the earlier talks are as those outlets described them. The text Lens received with this story gave the March valuation as more than €900 million; Lens did not find that euro figure in the sources it read. Tech Funding News described the new valuation as eight times the March price; by Lens arithmetic, $6 billion is about six times $1 billion, and The Recursive described the rise as roughly sixfold. Resilience Media said the company reported being profitable; the UFORCE releases read by Lens do not say so, and no source gave revenue figures. The company spells the chairman’s name Oleksiy Honcharuk; other sources use Oleksii. The text Lens received linked to a LinkedIn short link, which Lens did not open. Thumbnail photo: “Magura W6 Drohnenboot EG-Museum-inMutter-Heimat-Statue-Kiew (Батьківщина-Мати) 20260705 1cr” by Zenwort via Wikimedia Commons, licensed under CC BY-SA 4.0; cropped. It shows a MAGURA W6 uncrewed surface vessel, with a second MAGURA boat behind it, on display at the museum beneath the Motherland Monument in Kyiv, photographed on 5 July 2026. Illustrative photo; it does not show the events described.

Image: Lens chart built from the figures above. Thumbnail: Zenwort via Wikimedia Commons (CC BY-SA 4.0).