Musk ally’s Valor to lead $500m Uforce round at $5bn, Bloomberg reports

Uforce, the London-based drone company built from Ukrainian battlefield manufacturers, is in talks to raise about $500m at a valuation of around $5bn, Bloomberg reported on Monday. Valor Equity Partners, the firm run by SpaceX board member Antonio Gracias, would lead the round.

Yazhou Sun and Rebecca Torrence cited people familiar with the matter who asked not to be named. The round has not closed and the terms could change, they said. Uforce declined to comment to Bloomberg. TNW has not independently verified the report.

If the number holds, Uforce will have gone from a $1bn valuation to $5bn in six months. It raised $50m in March at just over $1bn, led by Shield Capital and Lakestar. Sifted reported in August that the company was seeking upwards of $4bn. Bloomberg’s figure is a billion higher, three weeks later.

What Uforce is

The company is not a startup in the usual...

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