Quantum Systems, a specialist in creating unmanned aerial vehicles (UAVs) for surveillance, has secured €150 million in funds to expand production and advance technological innovation. The announcement occurred at the firm’s headquarters in Gilching prior to the Munich Security Conference, according to the European Investment Bank (EIB) on February 12.
The funding originated from both governmental and non-governmental investors. The EIB offered a €70 million loan, representing the bank’s second significant investment in Quantum Systems, following a €10 million contribution in 2021. Commerzbank, Deutsche Bank, and the state-owned German banking group KfW also participated in the financing, bringing the total long-term debt financing up to €150 million.
The capital acquired will be channeled into improving drone hardware and software solutions, innovating artificial intelligence systems for surveillance UAVs, and establishing industrial capacity to satisfy European security demands. The EIB highlighted that aerial reconnaissance technologies are crucial in bolstering the EU’s defense capabilities and technological independence.
Quantum Systems has been providing its Vector reconnaissance drones to Ukraine since April 2022. Over the last couple of years, the enterprise has garnered $81.1 million in investments, a fourfold increase compared to the preceding seven years. Among the investors is Thiel Capital, the investment vehicle of German-American entrepreneur Peter Thiel, a co-founder of PayPal.
Approximately €7 million of the procured funds are earmarked for initiating production in Ukraine. Beginning in 2024, the company plans to commence manufacturing spare parts for its drones at Ukrainian facilities, and in 2025, to establish a complete cycle of UAV assembly within the nation. In this manner, Quantum Systems is solidifying its presence in the unmanned systems sector, augmenting production capabilities across Europe and Ukraine, and concurrently advancing critical technologies in the realms of defense and artificial intelligence.
Source: forbes.ua