The European Investment Bank (EIB) has granted $11.8 million to German small uncrewed aircraft systems (sUAS) company Quantum Systems to keep pace with spiking business demands. The Munich-based startup will use the funds to boost its small craft solution activities for mapping and surveillance clients, and pursue continued expansion according to strict environmental, social, and governance (ESG) criteria.
European “climate bank” grants sUAS startup Quantum Systems millions for environmentally friendly business development
A young but dynamic European player in the development, design, and production of small UAS, Quantum System, received the EIB infusion to enable it to keep pace with its considerably surging business demand. Serving as the European Union’s (EU) bank on sectors and companies promising positive effects on climate change, the EIB agreed to provide the funding after judging Quantum’s research, development, and business plans honed to the bank’s ESG requirements. The loan is backed by the European Fund for Strategic Investment, which itself – in the matryoshka doll style of many European institutions – is a central element in the Investment Plan for Europe.
The project partners the EIB and the European Commission as they seek to corral over $371.5 billion in investments capable of creating jobs, increasing EU economic competitiveness, and benefitting the environment.
In approving its line to Quantum, the EIB stipulated the support its intended to help the small UAS company develop its main areas of strength faster.
“The financed RDI activities aim at enhancing the current product portfolio with innovative features, improving the modularity and robustness of drones, and developing new functionalities and products to further enable autonomous operations, in particular for mapping, inspection and survey applications,” the filing said. “The financing of the permanent increase of working capital as well as sales and marketing expenditures aims at sustaining the company’s growth.”
For its part, Quantum welcomed the decision as important backing of its objective to turn its current leading role in European sUAS development into a global force.
“It represents an important milestone in our long-term vision to become a leader in sUAS technology and visual sensors,” says Quantum CEO Florian Seibek. “The EIB clearly recognises the untapped potential not only in Europe but around the world and supports our belief that our platforms will be used for mapping and surveillance missions all over the world in the future. The funds will be used for the continued expansion of our technology and global market presence. In the coming months, we will continue to expand our drone port technology and vertical manufacturing. The global use of drones is at a crossroads and we are confident that now is the right time to deploy our systems.”
Quantum added that the EIB loan will be part of a wider drive for additional funding, following previous successful rounds.
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