The Munich-based company is among a crop of younger defence manufacturers attracting huge interest
German drone maker Quantum Systems said Thursday it has raised $1.2 billion (one billion euros) in a funding round and more than doubled its valuation, highlighting investor buzz surrounding defence tech firms.
The Munich-based company, which makes surveillance drones and other AI-powered autonomous systems, is among a crop of younger defence manufacturers attracting huge interest as European countries rearm.
The funding came from backers including US private equity giant Blackstone, aviation behemoth Airbus, as well as investment firms Noteus and Advent, more than doubling the valuation of the company to $8 billion.
“This financing allows us to scale production, expand globally, and deliver the next generation of AI-powered autonomous systems,” said the group’s co-CEO, Sven Kruck.
