Just in May of this year, Quantum Systems announced the completion of its growth financing from the 10x Group. Now, the EIB loan follows, which falls under the European Growth Finance Facility (EGFF), which was made possible by the guarantee of the European Fund for Strategic Investments (EFSI). With the EGFF, the EIB aims to close a gap in quasi-equity financing in Europe. European later-stage startups often suffer from a systemic shortage of non-dilutive large-scale financing for growth investments in tangible and intangible assets.
The drones from Quantum Systems can take off and land vertically. They are used for search and rescue operations, among other things, but also in areas such as smart farming, open-pit mining, and large-scale construction sites. Other applications such as the transport of medicines and blood products have also been demonstrated.
“With this fresh capital, we intend to expand our research and development capacities in the areas of autonomous flight and artificial intelligence and to drive forward the further vertical integration of system-critical components of vertical takeoff and landing drones,”
says Florian Seibel, CEO and co-founder of Quantum Systems. The funds will also be used for increased sales and marketing efforts, as well as for ramping up production and operations.
“We are proud of this unique financing product”
EIB Vice-President says about the EGFF Ambroise Fayolle, which is responsible for projects in Germany and commitments in the areas of environment, climate protection and circular economy:
"We are proud of this unique financing product that meets an urgent need. Venture loans protect ownership, promote growth, and help bring new technologies to market. If we want to support the market leaders of tomorrow, we must take some risks. We believe in the potential of the companies we support and want to help them grow with tailored financing."
EU Commissioner Mariya Gabriel, responsible for innovation, research, culture, education and youth, praised the European Union's innovation programme, saying:
"We are pleased to enable entrepreneurs, large and small, to transform new ideas into concrete innovations, thus improving our shared prosperity. The EGFF is an important tool for promoting the competitiveness of the European economy."
