UK wealth fund plans Uforce investment, report says
The London-based defense technology company brings together Ukrainian manufacturers producing military drones, ground robots and counter-drone systems.
Britain’s National Wealth Fund plans to invest in defense technology company Uforce, according to the Financial Times. The proposed deal’s value and terms were not disclosed, and neither the fund nor Uforce has publicly commented.
Founded by Ukrainians, Uforce combines several Ukrainian defense manufacturers and has relocated its headquarters to London. Its equipment includes Magura maritime drones and Nemesis attack drones, alongside robots for ground operations and systems designed to counter drones.
The reported investment follows a Budget allocation of an additional £15.4 billion in capital for the National Wealth Fund by Chancellor John Healey. In a letter, Healey asked the fund to give greater priority to defense, critical minerals and AI, describing defense as central to the government’s national renewal plans.
Separately, the National Wealth Fund and the British Business Bank will provide up to £5 billion over four years for defense and national security. That funding will include technologies with civilian as well as military uses.
