Providers of drone-based services designed to thwart maritime threats, Lisbon-based TEKEVER has raised 20 million euros in a growth financing round. The funding is expected to be used to advance the company’s ongoing research and development programs and propel global expansion efforts.
Perhaps the drones you and I are most familiar with are the consumer/entertainment variety. They’re typically used to capture shots of the environment, either home-made, realized on one of your favorite streaming entertainment services during the day, or, more recently, to replace fireworks in some dazzling displays of LED acrobatics.
Then of course there are those other drones.
TEKEVER definitely falls into the “other” category, but still, the company is a little different in its own way.
“Unlike traditional aerospace companies, we have a vertically integrated approach to our products and full control over every aspect of the value chain, including aerospace design, composite structure fabrication, electronics design and manufacturing, and software development, including deep capabilities in data science ,” explains CEO Ricardo Mendes.
Producing drones capable of continuous flight times of up to 20 hours while loaded with just about every type of sensor you can think of, camera, radars, mobile communication detectors, you name it, TEKEVER can put it in the air.
Add in a healthy dose of Edge AI, Sat Comms and cloud computing, and TEKEVER is able to deliver real-time information and advanced analytics to customer web and mobile devices.
All this adds up to one of the most sophisticated and technologically advanced maritime surveillance systems known to man. The company points to its ability to “deliver the information needed to timely and efficiently predict and act to prevent major threats to life, the environment and the economy in a maritime context, such as piracy, drugs and human trafficking, migrant smuggling, pollution, illegal fishing and threats to infrastructure security.”
With topics like migrant smuggling and illegal fishing on the menu, it should come as no surprise that the UK Home Office is one of TEKEVER’s clients. The company also includes the European Maritime Safety Agency (EMSA) in this user group.
The company launched its first commercial services in 2018 and has seen nothing but sales and earnings figures in the black since then, with a CAGR of at least 60% expected over the next three years.
“We are leading the way in Europe and we are on our way to becoming the global leader,” added Mendes.
TEKEVER isn’t alone in the remote maritime surveillance space, though, as French aerospace tech Unseenlabs monitors shipping lanes, albeit via a network of satellites, raising a matching €20 million in Series B round last April.
The drone maker’s growth financing round was led by Ventura Capital and joined by Iberis Capital and a number of undisclosed OEMs from the maritime and shipping industries.
“TEKEVER is one of the most popular European deep-tech scale-ups and we are very proud to continue to work with the team and help them disrupt the global market,” said Diogo Chalbert Santos of Iberis Capital. “It’s amazing what TEKEVER has already accomplished as a startup company and I’d say even the sky is no limit with this round.”