Sequoia Invests in German Weaponized Drone Startup Stark Defense [Yahoo! Finance]
PORSCHE AUTOMBL UNSP/ADR (POAHY)
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Source: Yahoo! Finance
Most Read from Bloomberg Sequoia invested €14 million ($15 million) in a Series A round for the Munich-based firm Stark Defense, valuing it at around €90 million, people with knowledge of the funding said, asking not to be identified because the information is not public. Stark's founder, Florian Seibel — a drone veteran who also runs the German drone maker Quantum Systems — declined to comment. Sequoia Capital also declined to comment. A new generation of tech firms seeking to disrupt the traditional defense industry has emerged since Russia's 2022 invasion of Ukraine. The North Atlantic Treaty Organization last year launched its inaugural tech fund to invest in startups in defense, cybersecurity and related areas at a time of rapid innovation on the battlefield. Seibel's Quantum Systems produces surveillance and reconnaissance drones. It counts billionaire Peter Thiel and Airbus Ventures among its investors. Quantum raised money from investors including Porsche SE and UK-
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