PiggyGPT

Private companiesCovered

Quantum Systems

Gilching, Germany · Founded 2015

Quantum Systems builds the Vector, Twister and Reliant eVTOL reconnaissance drones and the MOSAIC UXS mission software, sold to the Bundeswehr, Ukraine’s armed forces, the U.S. Army and other NATO-aligned forces, and is adding armed and ground systems.

Profile

What it builds and who buys it

  • ·The Bundeswehr’s procurement office, BAAINBw, signed a contract on December 12, 2025 for up to 747 Twister reconnaissance drones as the successor to its ALADIN system: a firm order of 147 systems with services and options for 600 more, with Quantum Systems guaranteeing at least 250 a year. Twister is a 4 kg eVTOL with 90 minutes of endurance, a 15 km range, an EO/IR gimbal, acoustic sensors and edge AI on an Nvidia Jetson Orin NX, controlled by the MOSAIC UXS mission software. The value was not disclosed.Quantum Systems (company release, PDF), Dec 12, 2025
  • ·Bloomberg reported on December 11, 2025, from a document it reviewed, that Quantum Systems was set to secure a €210 million ($246 million) contract to deliver 520 Falke surveillance systems to the German Army in 2026, with options for 500 more between 2027 and 2032, and that the deal was about three-quarters of the company’s projected 2025 revenue.Bloomberg (via Investing.com), Dec 11, 2025
  • ·The first Bundeswehr framework, signed with BAAINBw in September 2023 under the FALKE program, covered 14 Vector systems for German special forces with first deliveries in the fourth quarter of 2024; Vector flies up to 180 minutes and streams video over encrypted mesh links to 35 km.Defence Industry Europe, Oct 1, 2023
  • ·The U.S. Army selected Vector AI in May 2026 for its Company-Level sUAS Directed Requirement 2 under a $15.3 million award to Quantum Systems Inc. of Moorpark, California. Vector AI weighs 21 pounds at take-off, flies more than 180 minutes with a command link beyond 60 km on a 9.2-foot wingspan, carries two Nvidia Jetson Orin modules and is set up by one soldier in under five minutes; quantities were not stated.Military & Aerospace Electronics, May 1, 2026
  • ·Vector was added to the Defense Innovation Unit’s Blue UAS List on August 5, 2025, which lets U.S. defense and federal agencies buy it without further approvals; the company said it was already deployed by several U.S. government users.Soldier Systems, Aug 7, 2025
  • ·Quantum Systems Inc. opened a 135,000-square-foot production and integration facility at 609 Science Drive, Moorpark, California in June 2025, with manufacturing lines, laboratories and flight operations for Vector AI, Twister and Reliant, and planned more than 100 staff in Ventura County by the end of 2025.Defence Industry Europe, Jun 7, 2025
  • ·Ukraine ordered a third batch of 300 Vectors in June 2023, funded by the German government, taking the total received since August 2022 to 438, by Janes’s account; no value was stated.Janes, Jun 2, 2023
  • ·A Ukrainian plant opened on April 18, 2024 with Vice Chancellor Habeck and Minister Kamyshin present, planned for about 100 staff by year-end and 1,000 drones a year including spares, on a six-million-euro investment over two years; 212 Vector systems had by then been delivered through Germany’s enablement initiative, with 500 expected by the end of 2024.Euromaidan Press, Apr 20, 2024
  • ·By August 2025 Ukrainska Pravda, citing Politico, described a network of plants in different Ukrainian regions making about 80 Vectors a month against about 120 a month in Germany, with new AI versions under test with Ukraine’s rocket and artillery forces.Ukrainska Pravda, Aug 30, 2025
  • ·The Series D release states triple-digit growth, double-digit profitability, more than 19,000 missions flown by its systems in Ukraine in 2025 and a production footprint across Germany, Ukraine, the United States, Australia, Romania, the United Kingdom and the Baltics; the proceeds go to capacity, supply chain, allied markets, software and AI, and the move to MOSAIC UXS as the connecting software.Quantum Systems (release via Omnes Capital), Jul 2, 2026
  • ·At the NATO summit in Ankara on July 6, 2026 the company said it was expanding its plants in Germany, Ukraine, Australia and California, ramping a new facility in Huntsville, Alabama and establishing production sites in the UK, Lithuania, Estonia and Romania.Quantum Systems (company release, PDF), Jul 6, 2026
  • ·Acquisitions began in March 2025 with Germany’s AirRobot, which made the company a tier-1 supplier to the UK Ministry of Defence, followed by Nordic Unmanned UK; the May 2025 release counts 550 staff across Germany, Australia, Ukraine and Romania, customers among NATO-aligned forces in Germany, Ukraine, Australia, New Zealand and Spain, and several years of revenue growth above 100 percent.Quantum Systems (company release, PDF), May 6, 2025
  • ·Spleenlab, a German developer of the VISIONAIRY perception suite for GPS-denied navigation and multi-platform autonomy, was acquired in October 2025 with all of its employees, tripling the software and AI team; no price was disclosed.DroneLife, Oct 21, 2025
  • ·FERNRIDE, a Munich ground-autonomy company with TÜV approval for autonomous trucks that had refocused on military logistics, was acquired in December 2025 on undisclosed terms.Munich Startup, Dec 19, 2025
  • ·SensusQ, an Estonian intelligence-management software company, was acquired in May 2026 on undisclosed terms.Resilience Media, May 15, 2026
  • ·Two Ukrainian joint ventures were announced in April 2026: Quantum WIY Industries with WIY Drones for interceptor drones, after Quantum Systems paid for a contract of 15,000 WIY STRILA interceptors for Ukraine’s National Guard, and Quantum Tencore Industries with Tencore for uncrewed ground systems. No amounts were stated.The Defender, Apr 14, 2026
  • ·A reconnaissance-strike pairing of Vector with Stark’s Virtus loitering munition (60 minutes, 100 km, a 5 kg warhead) was shown in August 2025 as proven on Ukraine’s front lines, closing the loop from detection to strike in minutes; no equity component between the companies was disclosed.AIN, Aug 29, 2025
  • ·Pulse P19, a medium-altitude long-endurance drone able to carry weapons and the largest platform in the lineup, was announced for the ILA Berlin show of June 10 to 14, 2026 as a reconnaissance, surveillance and strike system; no customer was named.Militarnyi, Jun 3, 2026
  • ·Weapons restrictions on some investors had barred the company from building strike drones, The Next Web wrote in July 2026, which is why the co-founder started Stark separately; the same report put 2025 revenue at about €300 million, doubled, with double-digit margins.The Next Web, Jul 3, 2026
  • ·Revenue was €113 million in 2024, and the co-CEOs told Handelsblatt in August 2025 they expected more than €250 million in 2025 with a positive result in the double-digit millions.Handelsblatt, Aug 7, 2025
  • ·A €150 million debt package was announced in February 2026: a €70 million European Investment Bank loan with Commerzbank, Deutsche Bank and KfW, for growth and industrial scaling in Europe. Debt, not primary capital, so it is not a round.EU-Startups, Feb 13, 2026
  • ·Airbus Defence and Space, Quantum Systems and Spleenlab won the German Armed Forces planning office’s KITU 2 research award in July 2023 to demonstrate AI building blocks for swarms of tactical drones, with Vector as the platform; no value was stated.Defence Industry Europe, Jul 3, 2023

Founders and leadership

  • Florian SeibelCo-founder and co-CEO

    A Bundeswehr officer from 1999 to 2016 who studied aeronautics and astronautics at TU Munich, flew helicopters and then researched UAV carrier systems as a research assistant at an aerospace faculty; the initiator and founding chief executive of the company, by the colloquium’s biography.Munich Management Colloquium (lecturer biography)

  • Sven KruckCo-CEO

    Responsible for operations, sales, finance, marketing and communication. Joined in December 2022 as managing director and chief revenue officer, built a Ukrainian service and support centre of 52 staff in 2023 and became co-CEO in 2025. Earlier positions in the German Armed Forces, with Afghanistan in 2009 and U.S. Special Forces at Fort Bragg in 2011, then Deloitte Consulting and the Tyczka Group, where he was a managing director; an MBA from Hochschule Reutlingen and a diploma in strategic management from the University of the German Armed Forces.Quantum Systems (company vita, hosted by the New Strategy Center)

  • Jonas JaroschChief financial officer

    Joined in autumn 2024 as Director of Finance and succeeded Frank Thieser, chief financial officer since 2020, in February 2025.Quantum Systems (company release, PDF), Feb 19, 2025

  • Martin KarkourChief revenue officer

    Appointed chief sales officer on February 15, 2025, succeeding Sven Kruck; the company’s December 2025 and July 2026 releases title him chief revenue officer.Quantum Systems (company release, PDF), Jul 6, 2026

  • Armin BusseCo-founder

    One of the four founders of 2015, a Dipl.-Ing. (FH) with an MBA by the University of the Bundeswehr’s founders page; Munich Startup named him co-founder and chief operating officer in October 2022, and no later title is on the record here.University of the Bundeswehr Munich (founders page)

  • Michael KriegelCo-founder

    Dr.-Ing. Michael Kriegel, one of the four founders of 2015 by the University of the Bundeswehr’s founders page; no current title is on the record here.University of the Bundeswehr Munich (founders page)

  • Tobias KlossCo-founder

    Dipl.-Ing. Tobias Kloss, one of the four founders of 2015 by the University of the Bundeswehr’s founders page; no current title is on the record here.University of the Bundeswehr Munich (founders page)

Prospects, after the July 2026 Series D

Prepared by PiggyGPT, as of Oct 11, 2026

  • ·Demand on the record is a Bundeswehr framework of up to 747 Twister drones with 147 on firm order and at least 250 a year guaranteed, a €210 million order for 520 Falke systems that Bloomberg reported from a document in December 2025, a $15.3 million U.S. Army award, 19,000 missions flown in Ukraine in 2025 and a 15,000-interceptor contract the company itself paid for. The 600 Twister options are not orders, the Twister value is undisclosed, and the Falke order rests on Bloomberg’s report rather than a company release on file.
  • ·No revenue figure on file is stated in US dollars, so the page carries none. In euros, the record runs from €113 million in 2024 to about €300 million in 2025, doubled, with double-digit margins and a stated profit, which meets the more than €250 million the co-CEOs told Handelsblatt to expect. Bloomberg’s note that one German order equals about three-quarters of projected 2025 revenue, and DroneXL’s figure of roughly 95 percent military revenue, describe the concentration.DroneXL, Feb 19, 2026
  • ·The capital path points to a listing rather than a sale. Reuters relayed Manager Magazin’s February 2026 report of IPO preparations for a listing by early 2027 with Morgan Stanley running a €400 to 600 million round; what closed in July 2026 was a $1.2 billion Series D at about $8 billion, which Bloomberg had reported in May as mostly primary with a small secondary portion. The company then said it had run an IPO readiness review and was in no rush to list, and holds more than $1.2 billion of dry powder by its co-CEO’s account.
  • ·The build-out is factories in seven countries, funded from equity and a €150 million EIB-led debt package: plants in Germany and Ukraine making about 120 and 80 Vectors a month in 2025, a 135,000-square-foot Moorpark site, and new sites announced in July 2026 for the UK, Lithuania, Estonia, Romania and Huntsville. Capacity figures beyond the Twister guarantee are not stated.
  • ·The turn to armed systems is new: weapons restrictions on some investors had kept strike drones at Stark, a separate company the co-founder started in 2024, and the first weapons-capable platform, Pulse P19, was shown in June 2026 with no customer named. The merger with Stark the co-founder floated has no roadmap by his account and no plans by Stark’s. Among the rivals CNBC named, Helsing was set to raise at $18 billion and Stark took €500 million in June 2026.CNBC, Jul 2, 2026
  • ·Customers are the Bundeswehr, Ukraine’s forces, the U.S. Army and NATO-aligned forces in Australia, New Zealand, Spain and the Netherlands, with the German government funding the Ukrainian Vector orders. Airbus co-led the Series D after Airbus Defence and Space joined the Series C and Airbus Ventures the Series B, Hensoldt invested in the Series C and Porsche SE led the Series B extension; none carries a disclosed commercial agreement beyond the 2023 KITU 2 research award with Airbus.Janes, Oct 22, 2024
  • ·For the acquisition read, the cited ties are investor stakes: Airbus as a Series D co-lead with two earlier Airbus entities on the register, and Hensoldt from the Series C. No approach has been reported, the company is itself the acquirer of five companies since March 2025, and the stated path is an IPO. The posture is watch.

A summary of what the figures on this page add up to, prepared by PiggyGPT from the record on file and its cited sources. Not the Street's view, and not advice.

Funding

Last valuation

$8B

Post-money, Series DQuantum Systems (release via Omnes Capital), Jul 2, 2026

Last round or tender

$1.2Braised

Series DQuantum Systems (release via Omnes Capital), Jul 2, 2026

Co-led by Blackstone, Noteus, Airbus and Advent, with BOND, Fidelity Management & Research Company, Wellington Management, A.P. Moller Holding and Elephant Lake Ventures, and the existing shareholders Balderton and HV Capital. The release states the post-money as about $8 billion. Bloomberg had reported on May 13, 2026 a roughly €600 million round at up to €7 billion, mostly primary with a small portion sold by existing investors.

Latest revenue figure

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Valuation to revenue

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Post-money valuation by round

$0$2B$4B$6B$8BAug '25Feb '26Aug '26$8B Series D
DateRoundRaisedPost-money
Jul 2, 2026Series DCo-led by Blackstone, Noteus, Airbus and Advent, with BOND, Fidelity Management & Research Company, Wellington Management, A.P. Moller Holding and Elephant Lake Ventures, and the existing shareholders Balderton and HV Capital. The release states the post-money as about $8 billion. Bloomberg had reported on May 13, 2026 a roughly €600 million round at up to €7 billion, mostly primary with a small portion sold by existing investors.$1.20B$8.00B
Nov 28, 2025Series C extension€180 million led by Balderton Capital, taking 2025’s total to €340 million; not converted to US dollars. The company stated the valuation as above €3 billion, a floor; DroneXL reported it as 3 billion euros ($3.5 billion), the dollar figure recorded here.—$3.50Breported
May 6, 2025Series C€160 million led by Balderton Capital with Hensoldt, Airbus Defence and Space, Bullhound Capital, LP&E AG and existing investors including HV Capital, Project A, Peter Thiel, DTCP, Omnes Capital, Airbus Ventures, Porsche SE and Notion, taking the total raised to €310 million; not converted to US dollars. The release states no valuation; deutsche-startups.de reported that the round valued the company at $1 billion for the first time.—$1.00Breported
Sep 24, 2024Series B extensionNotion Capital and Porsche SE as new lead investors with existing investors, taking the Series B to over €100 million; the company did not state the increment, which Munich Startup put at roughly €40 million. Not converted to US dollars. No valuation was stated.——
Oct 24, 2023Series B€63.6 million led by HV Capital and DTCP with Project A, Thiel Capital, ScaleUp Fonds Bayern, Omnes Capital and Airbus Ventures; not converted to US dollars. No valuation was stated.——
Oct 17, 2022Funding roundUnnamed in the cited report: Peter Thiel, Project A, Sanno Capital, 10x Group and the returning Bayern Kapital, four months after the Series A. Tech.eu put it at $17.5 million and cumulative funding at $79.2 million; Munich Startup reported the same round as €17.5 million. No valuation was stated.$18M—
Jun 8, 2022Series ACompleted with Bayern Kapital’s Bavarian Growth Fund 2, German private investors, existing investors and the European Investment Bank at a total of $32 million of equity and venture debt; the split was not stated, so no primary figure is recorded. No valuation was stated.——

Primary capital across the rounds on file: $1.22B

Revenue

No citable revenue figure on file.

Secondary venues

  • Clarity (formerly Hiive)public page seen Oct 11, 2026

    Clarity Price $12.25, as of Oct 11, 2026

    Clarity calls the figure a model-derived indicative estimate calculated daily; the page dates it no further than a "last updated" line reading August 28, 2026.

  • Caplightpublic page seen Oct 11, 2026

    No price on the public page.

    The page lists the company with no MarketPrice and shows a Series D dated July 2, 2026 at an estimated $8 billion valuation; Caplight’s round figures are an aggregator’s and are not a source here.

  • Jarsypublic page seen Oct 11, 2026

    No price on the public page.

    A tokenized pre-IPO platform. The public page names Quantum-Systems GmbH with a latest valuation of 3.26 billion, currency unstated, and no token or share price, below the Series D post-money on file, and says its valuations may reflect past financing rounds and may not represent a price at which anyone can transact.

A venue is listed when its public page named the company on the date shown. A price is the figure that page showed, under the venue’s own name for it and dated as the venue dated it; it is a level the venue publishes, not a trade. Nothing is recorded from behind a login.

Reads

Acquisition: Watch

A cited tie to a plausible buyer: a strategic partner, an investor stake, a tender offer, a stated appetite. Nothing reported.

Prepared by PiggyGPT, as of Oct 11, 2026

Signals

  • Jun 2, 2023Ukraine ordered a third batch of 300 Vector drones, funded by the German government, taking the total received since August 2022 to 438, by Janes’s account.Janes, Jun 2, 2023
  • Oct 1, 2023The Bundeswehr’s procurement office signed its first framework with Quantum Systems under the FALKE program, 14 Vector systems for German special forces with deliveries from the fourth quarter of 2024.Defence Industry Europe, Oct 1, 2023
  • Oct 24, 2023Quantum Systems raised a €63.6 million Series B led by HV Capital and DTCP, with Airbus Ventures among the investors.Tech.eu, Oct 24, 2023
  • Apr 18, 2024A Ukrainian drone plant opened with Germany’s vice chancellor and Ukraine’s strategic industries minister present, planned for 1,000 drones a year.Euromaidan Press, Apr 20, 2024
  • Sep 24, 2024Notion Capital and Porsche SE led a Series B extension that took the round to over €100 million.Quantum Systems (company release, PDF), Sep 24, 2024
  • May 6, 2025Quantum Systems raised a €160 million Series C led by Balderton Capital, with Hensoldt and Airbus Defence and Space investing for the first time; Hensoldt’s chief executive called the stake a bridge between established defence companies and startups.Quantum Systems (company release, PDF), May 6, 2025
  • Aug 29, 2025Quantum Systems and Stark presented a reconnaissance-strike pairing of Vector with Stark’s Virtus loitering munition, proven on Ukraine’s front lines by their account, with no equity component disclosed.AIN, Aug 29, 2025
  • Nov 28, 2025A €180 million Series C extension led by Balderton Capital took the valuation above €3 billion, the company said.Quantum Systems (company release, PDF), Nov 28, 2025
  • Dec 11, 2025Bloomberg reported, from a document it reviewed, that Quantum Systems was set to secure a €210 million ($246 million) German Army contract for 520 Falke surveillance systems in 2026, about three-quarters of its projected 2025 revenue.Bloomberg (via Investing.com), Dec 11, 2025
  • Dec 12, 2025The Bundeswehr’s procurement office signed a contract for up to 747 Twister drones as the ALADIN successor, 147 of them firm, with at least 250 a year guaranteed; the value was not disclosed.Quantum Systems (company release, PDF), Dec 12, 2025
  • Dec 19, 2025Quantum Systems acquired FERNRIDE, a Munich ground-autonomy company, on undisclosed terms.Munich Startup, Dec 19, 2025
  • Feb 19, 2026Reuters relayed Manager Magazin’s report that Quantum Systems was preparing an IPO for a listing by early 2027 and had mandated Morgan Stanley to run a €400 to 600 million round; the company said it does not comment on financing rounds.Reuters (via Yahoo Finance UK), Feb 19, 2026
  • Apr 14, 2026Two Ukrainian joint ventures were announced: Quantum WIY Industries for interceptor drones and Quantum Tencore Industries for uncrewed ground systems.The Defender, Apr 14, 2026
  • May 13, 2026Bloomberg reported that Airbus and Blackstone were in talks to lead a roughly €600 million ($703 million) round at up to €7 billion, mostly primary with a small portion sold by existing investors.Bloomberg (via Investing.com), May 13, 2026
  • Jul 2, 2026Quantum Systems announced a $1.2 billion Series D at about $8 billion post-money, co-led by Blackstone, Noteus, Airbus and Advent, and said it is profitable.Quantum Systems (release via Omnes Capital), Jul 2, 2026
  • Jul 2, 2026Sifted reported that the co-founder, who also founded the loitering-munition maker Stark in 2024, said he would consider merging the two companies and that there was no roadmap for it; a Stark spokesperson said there are no plans to merge.Sifted, Jul 2, 2026
  • Jul 3, 2026The Next Web reported that the company had run an IPO readiness review and said it was in no rush to list, with 2025 revenue doubled to about €300 million.The Next Web, Jul 3, 2026

Named counterparties

  • AirbusCo-led the July 2026 Series D after Airbus Defence and Space invested in the May 2025 Series C and Airbus Ventures in the October 2023 Series B; no approach has been reported.Quantum Systems (release via Omnes Capital), Jul 2, 2026
  • HensoldtInvested in the May 2025 Series C, with its chief executive describing the stake as a bridge between established defence companies and startups; no approach has been reported.Quantum Systems (company release, PDF), May 6, 2025

Counterparties are named for a cited reason: a partnership, an investment, or a stated appetite. Naming is not a forecast.

A summary of what the figures on this page add up to, prepared by PiggyGPT from the record on file and its cited sources. Not the Street's view, and not advice.

Sources

Researched Oct 11, 2026