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On November 12, the UK National Wealth Fund (NWF) took part in a $700 million funding round for drone startup Uforce—its largest defense-sector investment to date. Uforce was originally founded in Ukraine. The UK public financing institution co-led the round with Valor Equity Partners, led by Antonio Gracias, a close ally of Musk. Uforce announced Thursday that the round included a $150 million investment from NWF, valuing the London-based company at $6 billion and making it the UK's most valuable defense startup. Founded in 2022, Uforce was formed through the merger of several Ukrainian companies developing drones, unmanned vessels, and counter-drone systems. CEO Oleg Rogynskyy said the new funds will be used to expand production facilities in Ukraine and R&D centers in the UK, US, and Germany.
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