Quantum Systems Doubles Valuation to About $8 Billion in $1.2 Billion Funding Round

Quantum Systems raised $1.2 billion in a funding round that more than doubled the German drone startup’s post-money valuation to about $8 billion, according to Bloomberg. The company is among German startups making unmanned aerial vehicles that are benefiting from a surge in military spending in Europe. Co-CEO Sven Kruk told Bloomberg The Opening Trade on July 2 that the firm sees potential growth, consolidation in the sector, and expanding European defense spending ambitions.