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Quantum systems, a german drone maker backed by peter thiel, boosted its valuation to €3 billion ($3.5 billion) in a new funding round as the defense startup plans to increase production capacity. The round, led by balderton capital and joined by investors including peter thiel, porsche automobil holding se and notion capital, has tripled the company’s valuation since may. German defense tech startup quantum systems secures €180m, boosting its valuation to €3b and accelerating production of unmanned systems used in ukraine.

On friday, german isr uas company (and stark forefather) quantum systems announced that it has raised a €180m ($209m) series c extension at a €3b ($3.49b) valuation, led by balderton capital. Drone manufacturer quantum systems has reached a new valuation of €3 billion after securing €180 million in fresh funding It’s backed by investors including thiel, porsche automobil holding se.

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