UForce, a naval drone manufacturer established by Ukrainian founders and headquartered in London, has achieved a valuation of £4.5bn following a funding round exceeding £500m. The company, which produces unmanned systems for military applications across land, air, and sea domains, received £113m from the UK’s national wealth fund, positioning it among the country’s fastest-growing private companies valued above $1bn. The funding was co-led by Valor Equity Partners, a private equity firm with connections to prominent technology and aerospace figures.
The company’s technology has seen extensive operational use during the conflict in Ukraine. UK Defence Secretary Wes Streeting met UForce Chief Executive Oleg Rogynskyy aboard HMS Prince of Wales at a defence conference in Oslo. During the meeting, Streeting remotely piloted a UForce MV7 uncrewed vessel positioned more than 1,500 miles away in the Atlantic Ocean near Portugal, demonstrating the system’s maritime capabilities.
The UK Ministry of Defence emphasized UForce’s particular value for maritime operations, citing growing security concerns in the North Atlantic and North Sea regions related to Russian naval activities. British defence officials noted plans to deploy a fleet of sea-based autonomous systems in northern waters to monitor Russia’s nuclear submarine operations. As part of the investment agreement, UForce committed to developing British supply chains, with over 70% of content in UK-built vessels sourced from domestic suppliers, including hulls, engines, and electronics.
Rogynskyy, who grew up in Dnipro in eastern Ukraine and previously founded People.ai, a Silicon Valley technology company, stated that UForce aims to render military aggression economically unfeasible. He characterized the investment as enabling increased production capacity for Ukraine and allied nations, emphasizing the need for cost-effective, interoperable, and autonomous defence systems. The company’s board includes retired US General Christopher Cavoli, former NATO Supreme Allied Commander Europe, and former UK Conservative Defence Secretary Ben Wallace.
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