Quantum Systems Secures €1.2 Billion in Record Funding for Drone Development
Quantum Systems, a Munich-based drone manufacturer, has raised €1.2 billion in a record-breaking funding round for a European defense company, boosting its valuation to approximately €7 billion. The funds will primarily support the development of its Mosaic control software, developed in cooperation with Airbus. The company's revenue is projected to rise from €285 million last year to €700 million this year. The boom in the drone market has attracted talent from Axel Springer, including former "Bild" executives, who are moving into the defense sector. Helsing, another German defense startup, has become the country's most valuable startup.
Key facts
- Quantum Systems raised €1.2 billion in funding.
- The funding round is a record for a European defense company.
- Quantum Systems' valuation is now around €7 billion.
- Funds will go towards Mosaic control software development.
- Quantum Systems cooperates with Airbus on Mosaic software.
- Revenue grew from €285 million last year to a projected €700 million this year.
- Former Axel Springer employees are moving into the defense sector.
- Helsing became Germany's most valuable startup.
Entities
Institutions
- Quantum Systems
- Airbus
- Axel Springer
- Helsing
Locations
- Munich
- Germany