The financing was co-led by Blackstone Inc, Noteus, Airbus SE, and Advent and will be used to expand commercial operations internationally, increase production capacity and pursue acquisitions, the company said in a statement Thursday. A small portion of it was secondary, it added. Bloomberg News previously reported on the plans. 

Quantum Systems is one of a number of German startups that make unmanned aerial vehicles, including Helsing and Stark Defence, that are benefitting from a surge in military spending in Europe. The Gilching, Bavaria-based company, which raised money in November at a €3 billion (US$3.4 billion) valuation, has provided surveillance drones to Ukraine following Russia’s full-scale invasion and is now expanding its offerings to include unmanned vehicles for land and sea. 

“We do see that the market is quite heated,” chief financial officer Jonas Jarosch said in an interview, adding that he expects consolidation among European defence startups, with some being acquired or failing.

Jarosch said the company hasn’t received scrutiny from the German government over one of its early investors, controversial billionaire Peter Thiel. Thiel is a prominent backer of US President Donald Trump and a founder of data analytics company Palantir Technologies Inc. Germany’s defence ministry this year briefed lawmakers on Thiel’s role as a minority shareholder in Stark Defence, Bloomberg reported in February. 

“Peter Thiel is one of, I don't know, 35 investors in our company,” Jarosch said. “Historically, Peter Thiel was the key investor who led the defence tech growth that occurred when European and other investors were not willing.”

Quantum Systems’ revenue doubled to about €300 million in 2025 and is on track to maintain a similar rate of growth this year, according to Jarosch. The company plans to expand into Romania, the UK, the Middle East and Asia Pacific, he said. 

While Quantum Systems has undergone an initial public offering (IPO) readiness assessment, it’s not in a rush to list, Jarosch said.

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