Germany-based Quantum Systems, the maker of the popular fixed-wing Trinity and Vector/Scorpion eVTOL drones, has raised $32 million through a mix of equity and debt financing in its Series A funding round.
The round was led by venture capital from Bayern Kapital, which was founded by the Bavarian government in 1995. Several German private investors and European Investment Bank, an existing investor, also participated.
With an incredible flight time of 90 minutes, the drones made by Quantum Systems serve a variety of use cases both in the defense and security sector, as well as for the geospatial industry. They can be used in search and rescue operations after natural disasters like floods, or leveraged for applications such as smart farming, volume calculation in open-pit mining, surveying work for large construction sites, real-time situational awareness, tactical mapping, and automated railway inspection.
Florian Seibel, CEO of Quantum Systems, says:
Vertical take-off and landing drones have started to change how our customers operate their systems today. With the fresh capital, we will expand our research and development capacities in the areas of swarming, autonomous flight, and artificial intelligence. We will continue to lead this field.
Frank Thieser, who serves as CFO and CSO at Quantum Systems, adds that the fresh capital will also help the company to scale production and expand its investment in research and development with the ultimate goal of increasing sales at a global level.
Also read: Quantum Systems plans US subsidiary to meet government demand
Bayern Kapital, meanwhile, is all praises for Quantum Systems’ “powerful, efficient technology” and its “brilliant starting position for an international market with enormously high growth potential.”
Monika Steger, managing director at Bayern Kapital, sums up:
Today, there is hardly an industry that is not thinking about the opportunities presented by the use of drones, and there are already plenty of successful customer examples. We are delighted to have a Bavarian company with outstanding management that is helping to shape digitalization and the next stage of conquering airspace for the future.
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