German drone maker Quantum nears funding round that could triple valuation

BERLIN (Reuters) -German drone maker Quantum Systems is close to completing a 150 million euro ($175 million) funding round that could triple its valuation to 3 billion euros, Manager Magazin reported on Thursday, citing unnamed sources. The startup company, whose new drone "Jaeger" is designed to intercept hostile unmanned aircraft, has seen demand surge following recent drone disruptions at major airports. According to the report, Quantum plans to grow by acquiring startup companies and technology providers in the short term. Quantum's revenue is projected to reach 300 million euros in 2025 and exceed 500 million euros in 2026, the magazine added. A second, larger funding round is planned for 2026, potentially pushing the firm's valuation to 5 billion euros, the report said. Quantum Systems did not immediately reply to a request for comment from Reuters. The report comes after the German government said it would grant police the power to shoot down rogue drones like those that have disrupted airports across Europe and that some have attributed to a hybrid war being waged by Russia. ($1 = 0.8579 euros) (Reporting by Friederike HeineEditing by Ludwig Burger)

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