Portuguese drone maker Beyond Vision raises over €28m to scale production
The NATO-registered supplier plans to double its factory near Lisbon to build 500 to 800 drones a month as European demand for defence technology grows.
Beyond Vision, a Portuguese maker of unmanned aerial systems and AI-driven drone software, has raised more than €28 million in a round co-led by Lisbon-based Índico Capital Partners and Lince Capital, with a follow-on investment from ActiveCap, a shareholder since 2024, Tech.eu reported on 22 October 2026.
AeroTime describes the deal as a €28 million Series A. The money will go into factory capacity, research and development, and expansion into new markets.
From software company to NATO drone supplier
Beyond Vision was founded in 2013 and is led by CEO Dário Pedro and chairman Luís Miguel Campos. It started out developing software, then moved into AI-powered drones managed through cloud-based platforms, according to Tech.eu. It is now a registered NATO supplier.
The company develops dual-use drones and the AI systems that let operators control them remotely and fly them in swarms, AeroTime reports. It has recently also entered the market for naval drones.
The round comes during a period of fast growth. Beyond Vision has expanded its team to 150 employees, exceeded its 2025 revenue estimate and added military and civilian customers in several countries, Tech.eu reported.
Doubling the factory near Lisbon
The largest single use of the money is production. According to AeroTime, Beyond Vision will double the size of its production facility in Alverca do Ribatejo, near Lisbon, so it can build between 500 and 800 drones per month.
CEO Dário Pedro said the capital will be spent in three areas, according to Tech.eu: strengthening operational infrastructure and industrial capacity, accelerating R&D to add more advanced AI and new features to its cloud management platform, and expanding commercially into new international markets in defence, security and critical infrastructure monitoring. AeroTime adds that the company is developing its beXStream cloud platform for remote control and swarm coordination.
Exports, Ukraine and the US
The Portuguese armed forces were one of Beyond Vision's early customers, but the company now exports most of its production, AeroTime reports. Its drones have been used in the war in Ukraine, and it plans to build up its presence in the United States, where its emergency response drones have drawn interest from local companies.
What the investors say
Stephan de Moraes, managing general partner of Índico Capital Partners, said: "Beyond Vision has redefined this market by combining high-precision hardware with advanced artificial intelligence algorithms at a very competitive cost. This investment will give Beyond Vision the financial robustness needed to scale production and compete globally in important segments of autonomous unmanned vehicles."
Tomás Lavin Peixe, head of venture capital at Lince Capital, pointed to the political backdrop: "The current geopolitical context and the strengthening of European investment in defence are creating new opportunities for technology companies capable of competing internationally."
What it means for European founders and investors
Defence technology has moved from a niche that many European VCs avoided to one of the most active areas of the market. Beyond Vision's round is notable because it comes from Portugal rather than the usual defence-tech hubs, and because it is led by two domestic investors. It shows that national ecosystems outside Germany, France and the UK can produce companies that sell to NATO buyers and export most of what they make.
For founders, the story also shows the value of patience. Beyond Vision spent more than a decade building software and hardware before this round, and its pitch now combines manufacturing capacity, a cloud platform and real-world deployment. As European governments spend more on sovereign security technology, companies that can scale production, not just prototypes, are likely to attract the most capital.
Investors will watch whether Beyond Vision can turn new factory capacity into export contracts, especially in the US. For a wider view of where European capital is going, see our coverage of Seaya's new €600m growth fund and Europe's Q3 2026 funding totals.
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