In late October German AI-powered drone maker Quantum Systems announced the completion of a €63.6 million Series B funding round. HV Capital and DTCP led this round, with participation from followed by Airbus Ventures, Omnes Capital, Project A, ScaleUp Fonds Bayern and Thiel Capital.
“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,” stated Uwe Horstmann, General Partner at Project A Ventures, highlighting a notable new trend in the financing of defense technologies.
Quantum Systems defines itself as a “dual-use aerial intelligence company that provides multi-sensor data collection drones to government agencies and commercial customers.” Its drones are intended for use in a diverse spectrum of verticals, from agriculture to mining, inspection and constructions, as well as military purposes.
The company has gained wide recognition in this field as it has been supplying its drones to the Ukrainian army at a large scale since August 2022.
“Vector demonstrated its unprecedented performance under the most challenging conditions,” claimed the German startup as it announced its latest order from the Ukrainian government in May 2023. “Vector has been extensively used and intensively tested on the Ukrainian battlefield, where it has proven to be an asset for military intelligence, surveillance, and reconnaissance operations.”
As reported by Ukrainian tech blog AIN, Quantum Systems will use the funding to ramp up the production of its Vector drones and their deliveries to Ukraine. In addition, the drone maker “is opening an in-country support [facility including] a manufacturing and R&D center in Ukraine.”