From Bloomberg, October 24:
- Quantum Systems raised over €100 million after Series B round
- HV Capital, DTCP led round, which was backed by Thiel Ventures
A German drone company backed by Peter Thiel and operating in Ukraine since the Russian invasion raised €63.6 million ($67 million) in new funding.
Quantum Systems’ Series B round was led by HV Capital and DTCP Capital, and backed by Airbus Ventures, Thiel Ventures and Project A, the Munich-based company said in a statement on Tuesday. It comes after the startup signed a deal with the German army for its Vector reconnaissance drones.
“We are excited to back Quantum Systems’ vision for global leadership in AI-powered drone robotics,” HV Capital General Partner Christian Saller said in the statement. “The team has showcased their ability to sustain a technological advantage.”
Drones are playing an increasingly critical role in military conflicts, and in Ukraine they have provided surveillance, helped make artillery more accurate and dropped bombs on the enemy. Quantum Systems’ Vector drones have been used in the war, allowing the company to test its AI and swarming technologies in battlefield conditions....
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