finance
German drone startup raises $1.2 billion, valuation reaches $8 billion
Quantum Systems completed a $1.2 billion funding round that lifted its valuation to $8 billion. The round reflects continued investor interest in defense technology companies.
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German drone startup Quantum Systems raised $1.2 billion in a new funding round, more than doubling its valuation to $8 billion. The company said venture capital firms are increasing investments in defense sector companies because of strong revenue growth, rising valuations, and battlefield performance demonstrated in Ukraine.
Funding details Quantum Systems co-CEO Sven Kruck discussed the round in an interview with CNBC's Ritika Gupta. He attributed the investor interest to revenue trends and operational results. The round closed within the past two hours, according to the report timestamp.
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