German dual-use drone maker becomes unicorn amid defence tech boom

German drone maker Quantum Systems has raised €160 million at a valuation north of €1 billion, positioning it as Europe's newest defense tech unicorn. The company, known for building advanced electric, AI-powered drones with dual-use applications, aims to become a leader in robotized aerial intelligence solutions while fulfilling major contracts from global armed forces and being deployed in conflict zones like Ukraine. This surge in European defense tech investment reflects growing security concerns amid geopolitical tensions and U.S.-backed warnings about curbing military aid to Europe, with 2024 marking the highest funding year for such startups at €613 million.