Quantum Systems, a
backed by
, boosted its
to €3 billion (US$3.5 billion) in a new funding round as the
plans to increase production capacity of unmanned aerial systems.
The company raised €180 million from investors including Balderton Capital, tripling its valuation from a May round, co-chief executive Sven Kruck said in a call with journalists on Thursday. The new round confirms a Bloomberg News report.
Quantum Systems
that are being used by Ukraine in its war with Russia. The firm’s revenue has soared since the Russian full-scale invasion began in 2022.
The new money will help increase manufacturing capabilities and fund the development of counter-drone systems, which the company plans to begin to sell next year, Kruck said.
Quantum Systems is one of a number of
, including Helsing and Stark Defence, seeking to equip
with weapons that have become a key part of the war in Ukraine. Ukrainian drone manufacturers are also increasingly looking abroad for customers.
Quantum Systems was founded by former German army pilot Florian Seibel in 2015 to produce dual-use unmanned aerial vehicles. It’s backed by investors including Thiel,
and Notion Capital.