Auterion Raises $130 Million, Aims to Be Microsoft for Drones

Auterion, a startup that provides software to military drones, has raised $130 million to expand its operations abroad, including in geopolitical hotspots Ukraine and Taiwan, a further sign that private investors are pouring money into defense.

Bessemer Venture Partners led the financing round, which includes existing Auterion investors Lakestar and Mosaic, the company said in a statement on Tuesday. Lorenz Meier, Auterion’s chief executive, said the funding gives his company a valuation “north of” $600 million but declined to provide specific terms.

The startup is part of a wave of small defense companies attracting record amounts of capital as ...