Quantum Systems raises $1.2 billion, more than doubling valuation

German drone startup Quantum Systems has more than doubled its valuation to $8 billion after raising $1.2 billion in a new funding round, as investors continue to flock into new defence sector companies. Quantum Systems co-CEO Sven Kruck tells CNBC's Ritika Gupta venture capital firms are increasing their investments due to strong revenue growth, rising valuations and the proven capabilities demonstrated on the battlefields in Ukraine.