Quantum Systems secures €63.6M to build R&D center in Ukraine
Quantum Systems, a German aerial data intelligence company, has secured €63.6 million in Series B funding, led by HV Capital and DTCP, Bloomberg reports. The funds will allow the company to increase the drone production, as well as build a manufacturing and Research & Development center in Ukraine.
More about the deal
- Quantum Systems is more than just a drone manufacturer. According to the company, it is an aerial data intelligence company that provides multi-sensor data collection products to government agencies and commercial customers.
- The fresh round comes at the time when UAVs are playing an increasingly critical role in military conflicts. In Ukraine they have provided surveillance, helping artillery to be more accurate, as well as dropping bombs on the enemy directly.
- Quantum Systems deployed its drones like Vector to the battlefield, allowing the company to test its AI and swarming technologies in real-life conditions. Its full product line includes commercial UAVs Trinity Pro, Trinity F90+, and QBase 3D software, as well as government line: Vector, Scorpion, Trinity Tactical, and QBase Tactical software.
“Recent geopolitical events have made it crystal clear that we as venture capital investors can no longer afford to ignore the complexities of defense technology, which includes dual-use concepts with multiple applications. That’s why we’re proud to continue to back Quantum Systems in becoming a major dual-use player that strengthens European and Western tech resilience,”Uwe Horstmann, General Partner, Project A Ventures, comments.
- HV Capital and DTCP led the Series B round. The round was also followed by Project A Ventures, Thiel Capital, Bayern Kapital, Omnes, and Airbus Ventures.
- After the round, the company became the first in Europe to raise over €100 million on dual-use technology, serving both commercial and defense customers.
How will Quantum Systems use the money
The funding will enable Quantum Systems to ramp up the production allowing to continue to support Ukraine through multiple deliveries of Vector drones, driving innovations in AI capabilities, endurance, and further system architecture integrations to the battle management systems.
In addition to production increase, Quantum Systems is opening an in country support, launching a manufacturing and Research and Development center in Ukraine. In general, the funding will boost the resilience of the whole of Europe.