Thiel-backed Drone Maker Quantum Systems to Seek €3 Billion Valuation

Quantum Systems, a German drone manufacturer backed by billionaire Peter Thiel, is planning to raise funds at a valuation of up to €3 billion ($3.5 billion) in 2023. The company, which specializes in producing unmanned aerial vehicles (UAVs), aims to capitalize on the growing demand for drone technology in various sectors, including military, commercial, and recreational applications. The proposed fundraising will allow Quantum Systems to expand its operations, invest in research and development, and strengthen its position in the competitive drone market. The company's drone models are designed for a wide range of uses, from surveillance and reconnaissance to transportation and logistics. Thiel's involvement as a backer of Quantum Systems underscores the growing interest of investors in the drone industry, which is expected to continue its rapid growth in the coming years. The potential €3 billion valuation highlights the significant potential for Quantum Systems to become a leading player in the global drone market.