Summary:
Quantum Systems raises €160 million in Series C funding, achieving unicorn status.
Led by Balderton Capital, the round attracted notable investors including Hensoldt and Peter Thiel.
The startup specializes in dual-use UAVs with applications in both military and commercial sectors.
Reported €115 million in revenue for 2024, with 100% year-over-year growth.
Plans to expand global production and market presence following the funding round.
Quantum Systems Achieves Unicorn Status
Autonomous drones startup Quantum Systems has successfully raised €160 million in its Series C funding round, led by British VC Balderton Capital. This milestone positions Quantum Systems as one of the few unicorns in the European defense tech sector.
Notable Investors
This funding round saw participation from prominent investors such as Hensoldt, Airbus Defense and Space, Bullhound Capital, HV Capital, Project A, and Peter Thiel among others.
Dual-Use Drones
Founded a decade ago in Munich, Quantum Systems specializes in dual-use unmanned aerial vehicles (UAVs), which are designed for both military and commercial purposes. These drones are capable of spying on enemy locations and delivering critical information without engaging in direct combat. Notably, their commercial applications extend to agriculture, mining, and infrastructure.
Government Contracts and Revenue Growth
The startup has secured numerous government contracts with countries including the US, Colombia, Ukraine, Australia, Germany, and Spain. Co-founder and co-CEO Florian Seibel reported a revenue of €115 million in 2024, boasting over 100% year-over-year growth for several years. Seibel emphasized, "The need for sovereign, aerial intelligence has never been more pressing."
Expansion Plans
With the new funding, Quantum Systems aims to enhance its global production capabilities to meet rising demand and expand its market presence worldwide. The company has been actively pursuing acquisitions, including the purchase of AirRobot and expanding into the UK market through its acquisition of Nordic Unmanned UK.
A Competitive Landscape
The autonomous drone sector is becoming increasingly crowded, with competitors like Helsing, which raised funds at a valuation of around €5 billion, and Tekever, which recently announced a funding round valuing it at over £1 billion. Tekever also secured a significant contract with the UK's Royal Air Force (RAF), pledging to invest £400 million in the UK.
Growing Investor Interest
The surge in funding reflects a growing interest from VCs in defense technology, particularly since the start of the year, as geopolitical tensions rise. Data indicates that $5.2 billion was invested in the defense, security, and resilience sector in 2024 alone, marking a record influx of capital.
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