BERLIN: German drone manufacturer Quantum Systems has raised $1.2 billion in a major funding round, capitalizing on intense investor interest in European defense tech firms. The Munich-based company, which produces specialized reconnaissance drones
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BERLIN: German drone manufacturer Quantum Systems has raised $1.2 billion in a major funding round, capitalizing on intense investor interest in European defense tech firms.
The Munich-based company, which produces specialized reconnaissance drones, more than doubled its valuation to $8 billion.
High-profile backers driving the capital injection include U.S. private equity giant Blackstone, aerospace titan Airbus, and investment firms Noteus and Advent.
Quantum Systems will utilize the new financing to scale manufacturing, expand international operations, and advance its proprietary software platforms linking autonomous air, land, and sea systems.
Established in 2015, the firm is currently a vital supplier of surveillance drones to the German military and other European armies, including Ukraine's armed forces. Company executives indicated the financial windfall could also pave the way for strategic acquisitions, specifically targeting strike drone manufacturer Stark Defence to broaden their multi-domain battlefield portfolio.
Photo Credits: AFP
