FRANKFURT (Reuters) -German drone maker Quantum Systems has raised an additional 180 million euros ($208.67 million) in a new funding round, tripling its valuation to more than 3 billion euros, the
Quantum Systems' Valuation Triples After Funding Round
FRANKFURT (Reuters) -German drone maker Quantum Systems has raised an additional 180 million euros ($208.67 million) in a new funding round, tripling its valuation to more than 3 billion euros, the company said on Thursday.
The startup, whose new drone Jaeger is designed to intercept hostile unmanned aircraft, has seen demand surge following recent drone disruptions at major airports.
"Triple unicorn status is a testament to our team's ability to build systems and a company that performs in the most demanding real-world conditions," said Florian Seibel, the company's co-founder and co-CEO, in a statement, using a term for private startups worth more than $3 billion.
The funds will be used for further product development and acquisitions, said Quantum Systems, whose shareholders include the investment company Porsche SE.
($1 = 0.8626 euros)
(Reporting by Hakan Ersen, Writing by Miranda Murray, Editing by Rod Nickel)
