Auterion, a startup that provides software to military drones, has raised $130 million to expand its operations abroad, including in geopolitical hotspots Ukraine and Taiwan, a further sign that private investors are pouring money into defense. Bessemer Venture Partners led the financing round, which includes existing Auterion investors Lakestar and Mosaic, the company said in a statement on Tuesday. Lorenz Meier, Auterion’s chief executive, said the funding gives his company a valuation “north of” $600 million but declined to provide specific terms. The startup is part of a wave of small defense companies attracting record amounts of capital as investors eye windfalls from increased defense budgets across Europe. Drones have become ubiquitous in the Ukraine war, and NATO militaries are increasingly searching for ways to deploy the uncrewed vehicles in an air defense role after Russian incursions over Poland and Estonia.

Full report : Auterion, a startup that provides software to military drones, has raised $130 million to expand its operations abroad, including in Ukraine and Taiwan.