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Quantum Systems: Capital Raising
German defense drone maker Quantum Systems (affiliate of STARK founder) raised €180M at €3B valuation in November 2025, led by Balderton Capital. Also secured €210M Bundeswehr contract for Falke reconnaissance drones.
Source: TechFundingNews
The leadership read
Fresh capital usually broadens defence technology leadership bench strength — scale, go-to-market and operational depth — rather than any single appointment.
Market context: Backdrop: a 112.8 (Hot) Talent Market Index (up 11.4 on the month) with EMEA activity easing (-3.2pts).
Quantum Systems: 2 signals in the last 90 days — above the Defence Technology median of 1 across 43 tracked companies; 0.1% of MitchelLake's EMEA signal flow; 2 tracked across 29 days.
MitchelLake in this thematic
Also at Quantum Systems →
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Destinus →Destinus, Netherlands-based defence startup manufacturing cruise missiles and autonomous drones, is raising approximately €200M ahead of planned IPO with valuation target exceeding €5B
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Helsing →Helsing, a European military drone startup backed by Daniel Ek, is close to raising $1.2B at an $18B valuation
Ma Activity · EMEA
Persistent Systems →Persistent Systems (Indian IT firm) is acquiring German digital engineering company Nagarro SE in a takeover bid valued at approximately 140% above Nagarro's undisturbed share price. Combined entity will generate $2.9 billion in annualised revenue with 46,000+ employees.
Leadership Change · EMEA
Saab →Anders Arpteg, former AI chief at Spotify, Peltarion, and Swedish Security Police, took over as AI Chief at Saab in November 2025. He is now giving his first media interview highlighting AI's impact on product development cycles.
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