German drone manufacturer Quantum Systems has secured $1.2bn in a Series D funding round, more than doubling its valuation to $8bn.
The company stated that this represents the largest defence technology (deftech) financing round in Europe to date.
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In a 2 July release, Quantum Systems attributed its valuation growth to the increase in revenue, established profitability, and its position within the sector’s multi-domain approach.
The latest round was co-led by Blackstone, Airbus, Noteus, and Advent. Other participants in the round included BOND, Fidelity Management & Research Company, AP Moller, Wellington Management, and Elephant Lake Ventures.
Previous investors such as Balderton and HV Capital also took part.
Quantum Systems plans to use the capital to increase production capacity, reinforce supply chain operations, expand deliveries to allied markets, and continue developing its software and AI offerings.
The company’s MOSAIC UXS software ecosystem is intended to connect a range of uncrewed platforms, and the new funding will support accelerated development in this area.
Quantum Systems co-CEO and co-founder Florian Seibel said: “Defence will be defined by autonomous systems that can operate together across domains in real time… we are building a next generation neo prime that has the potential to disrupt defence as we know it today.
“We are profitable, deployed around the world and with the latest financing round we now have more than $1.2bn of dry powder to execute.”
Alongside the funding, Airbus Defence and Space and Quantum Systems have agreed to extend their strategic cooperation.
The two organisations aim to combine expertise in advancing next-generation European defence systems.
Last month, Airbus Helicopters and Quantum Systems reached an agreement to collaborate on integrating the latter’s advanced counter-UAS (C-UAS) interceptor capabilities into Airbus military helicopters, starting with the H145M multi-role model.
Airbus Defence and Space CEO Michael Schoellhorn said: “Autonomous systems are critical, rapidly evolving force multipliers. Their full operational value comes when they are deployed with human oversight, trusted command-and-control structures and seamless integration across crewed and uncrewed assets at the tactical edge.”
Quantum Systems’ platforms carried out over 19,000 missions in Ukraine during the past year.
The company has also expanded its manufacturing presence to include facilities in Germany, Ukraine, the US, Australia, Romania, the UK, and the Baltics.
