National Wealth Fund backs UFORCE to strengthen UK defence capability

• Series A fundraise of $700 million will support the continued international scaling of UFORCE, including the expansion of its UK presence  
• £113 million ($150 million) equity investment from the National Wealth Fund will support growth in advanced manufacturing, engineering and autonomous systems bringing high-skilled jobs to sites across the UK 
• The investment strongly aligns with the Fund’s moves to sharpen its focus on strengthening Britain’s security, resilience and industrial growth

The National Wealth Fund (“The Fund”) has announced a £113 million investment in UFORCE, a British-Ukrainian defence technology company specialising in autonomous and uncrewed systems, as part of the company's $700 million Series A funding round.  

UFORCE is a Ukrainian-founded, London-headquartered defence technology company focused on developing and delivering combat-proven unmanned systems across land, air and sea.

The investment is the National Wealth Fund’s largest in defence to date. It will scale British production, engineering and delivery of UFORCE’s combat-proven MAGURA family products (MV7 / MV11) and NEMESIS systems for the UK, Ukraine and allied nations. UFORCE will significantly expand its UK footprint, creating hundreds of high-skilled jobs in engineering, software, artificial intelligence and advanced manufacturing.  

The expansion will make the UK a major hub for the software, C2 and production capabilities underpinning UFORCE’s global growth. It will also strengthen support for Ukraine’s defence capabilities, reinforcing the partnership between the two allied nations. The National Wealth Fund’s investment is a concrete outcome of the UK–Ukraine 100-year partnership established by the two countries, moving the relationship from wartime support to long-term industrial partnership.

Oliver Holbourn, Chief Executive Officer of the National Wealth Fund, said:

"Today’s investment is a testament to the special relationship that the UK and Ukraine have fostered. Through the National Wealth Fund’s support, UFORCE’s expansion is bringing the production and engineering of combat tested autonomous systems to the UK.  

"It will help create high-skilled jobs, strengthen domestic supply chains and reinforce the UK's position as a leading centre for innovation in technologies that are increasingly important to national security and economic resilience."

The outcomes of this partnership will strengthen domestic supply chains and ensure the UK benefits from direct access to combat proven unmanned systems. More than 70% of the content of each UK-built MV series boat will come from British suppliers, with hulls, engines, electronics and fit-out sourced in the UK. The company will also develop and sponsor apprenticeships in partnership with universities and colleges across the UK.

Strengthening sovereign and strategic capabilities is one of the National Wealth Fund’s core ambitions, investing in companies that build, scale and retain critical technologies within the UK, reinforcing domestic supply chains and long-term national resilience. This was recognised at the most recent Autumn Budget, where the National Wealth Fund was directed by the Chancellor to sharpen its focus on strengthening Britain’s security, resilience and industrial growth. 

Chancellor of the Exchequer, John Healey MP, said:

"Bringing battle-tested Ukrainian technology to Britain will mean more high-skilled jobs, new investment and a stronger British Armed Forces.

“This is exactly what the National Wealth Fund was set up to do – an investment that will strengthen both our economic and national security, while putting the UK at the forefront of the next generation of defence technology.”

Defence Secretary Wes Streeting MP said:

"The technology being developed in Ukraine is changing warfare before our eyes, and Britain and its allies must move just as quickly.  

“The National Wealth Fund’s investment brings battle-tested expertise to the UK, creating high-skilled jobs and strengthening the defence industry we need to keep Britain and our partners secure.”  

Oleg Rogynskyy, CEO, UFORCE, said:

“The UK was an early supporter of Ukraine’s defence technology ecosystem, listening to our challenges and helping us tackle them – we’re pleased that UFORCE can now play a role in helping the UK develop its ecosystem in return. 

"This investment from the National Wealth Fund is yet another demonstration of Britain’s steadfast support for, and belief in, Ukraine, and of the deepening partnership between our two countries. It lets us contribute directly to transatlantic security, making sovereign, combat-proven, cost-effective autonomous systems available to the UK and its allies.  

"Together, the UK and Ukraine have the opportunity to lead the world in this next generation of defence technology, and we’re proud to be building that future here in Britain.”