Quantum Systems raises $1.2 billion at $8 billion valuation

Investing.com -- German defence technology company Quantum Systems raised $1.2 billion in fresh funding on Thursday, valuing the drone maker at about $8 billion in one of the largest private investment rounds for a European defence technology company.

The Munich-based firm's valuation increased roughly eight times from a year ago. International investors backed the funding round.

Co-CEO Sven Kruck said the financing reflects the rapid transformation of Europe's defence sector over the past two years, as investors increasingly back drone, software and autonomous systems companies.

The company plans to use the funds to expand production across allied markets and develop interoperable autonomous systems linked through its Mosaic UXS software ecosystem.

Co-lead investor Airbus agreed to deepen its strategic partnership with Quantum Systems to develop next-generation capabilities.

You May Also Be Interested In

• Blue Owl Credit Income Corp caps Q2 tender offer at 5% of shares
• HSBC Starts MakeMyTrip (MMYT) at Buy
• Lucas GC cancels ATM offering and proposed public share sale