Drone Maker Tekever Raises €70 Million From SpaceX Backer, NATO

Drone maker Tekever has raised €70 million ($74 million) in funding, which the company says it will use to expand into new markets and develop bigger, faster unmanned aerial systems.

The round was led by Scottish investment company Baillie Gifford & Co. – a backer of Airbnb Inc., Spotify Technology SA and SpaceX – and the NATO Innovation Fund, a venture capital fund connected to the North Atlantic Treaty Organization that invests in defense and security startups.

Tekever, founded in Portugal, designs and builds drones for aerial surveillance that can serve as the communication and navigation hub for swarms ...