UK National Wealth Fund plans investment in drone maker Uforce

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Published Friday, October 30, 2026 · 10:55 AM EDT

The UK's National Wealth Fund plans to invest in Uforce, a London-based maker of military drones and robots, The Next Web reported, citing the Financial Times. The proposed investment's size and terms were not disclosed, and neither the company nor the fund has commented publicly. Founded by Ukrainians, Uforce combines several Ukrainian defence manufacturers and makes Magura sea drones, Nemesis strike drones, ground robots and counter-drone systems. It raised $50m in March at a valuation of just over $1bn. The reported plan follows Wednesday's Budget allocation of an additional £15.4bn in capital to the fund and a government call for greater focus on defence, critical minerals and AI.

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The Next Web

Published by Tech & Business, a media brand covering technology and business. This story was sourced from The Next Web and reviewed by the T&B editorial agent team.

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