Who this is
Florian Seibel grew up in Freiburg, spent 15 years in the German armed forces, among other things as a helicopter pilot, and studied there. With Quantum Systems he built a drone maker that now generates more than 700 million in revenue, employs around 1,900 people, roughly 800 of them in Ukraine, has been profitable for three or four years and has just raised 1.2 billion at an 8 billion valuation. Because the early investors had contractually ruled out weapons, he founded a second company, Stark, for loitering munitions; it is run by Uwe Horstmann of Project A as CEO and raised 500 million at a 3 billion valuation at the same time. As co-CEO he is responsible for product, technology and strategy, while his co-CEO Sven runs operations.
Episodes
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FAQ
Who is Florian Seibel?
Florian Seibel is co-founder and co-CEO of Quantum Systems and founded Stark as a second drone company. He grew up in Freiburg, spent 15 years in the German armed forces, among other things as a helicopter pilot, and studied there. At Quantum he is responsible for product, technology and strategy, while his co-CEO Sven runs operations. To the episode →
How big is Quantum Systems?
In the episode Florian cites more than 700 million in revenue, around 1,900 employees, roughly 800 of them in Ukraine, and 100 hires per month. The company has been profitable for three or four years and has acquired around ten companies. Most of the revenue comes from the air domain, plus first contracts for ground vehicles, counter-drone systems and the MOSAIC software. To the episode →
How much money have Quantum Systems and Stark raised?
According to the episode, Quantum Systems raised 1.2 billion at a valuation of 8 billion. Stark raised 500 million at a 3 billion valuation in what felt like the same week. Florian explains that a company needing sums like that has to grow its valuation so that the founders don't get diluted away. To the episode →
Why did Florian Seibel found Stark?
Quantum Systems' early investors had contractually ruled out weapons through their LPs, in the same category as gambling. Loitering munitions were therefore not possible out of Quantum. Florian founded Stark as a spin-off with no Quantum IP and brought in Uwe Horstmann from Project A as CEO. In its latest round Quantum had all restrictions removed, which is why the two companies now overlap in places. To the episode →
How does an acquisition at Quantum Systems work?
Florian travels to every target himself, even if the company has only five people, instead of sending a strategy committee. All acquired founders have his mobile number and can call him directly. New targets can run their own background check with founders acquired earlier. That's how Quantum has closed every deal it wanted, around ten so far, with two or three more not yet announced. To the episode →
Why is Quantum Systems in Ukraine?
Florian's line: if you're not in Ukraine, you don't exist as a manufacturer. Only real deployment creates the feedback loop on what works in bad weather, without GPS or without regular maintenance. Quantum went all in without any investment protection from the finance ministry and now has around 800 employees at four or five sites in the country. Florian openly says that profiting economically from a war is emotionally difficult. To the episode →
Quotes
„Wir haben nie die Absicht gehabt, ein großes Unternehmen, geschweige denn einen Unicorn zu bauen …““We never intended to build a big company, let alone a unicorn.”
„… if you're not in Ukraine, you do not exist as a manufacturer.““If you're not in Ukraine, you do not exist as a manufacturer.”
„Also Sex, Drugs, and Rock'n'Roll, and Weapons gingen nicht.““So sex, drugs, rock'n'roll and weapons were off the table.”
„… Teil der Secret Sauce ist, da muss der Gründer hin. Das hilft nichts, wenn er da irgendwie ein Strategy Committee hat.““Part of the secret sauce is that the founder has to go there himself. It's no use having some strategy committee for that.”
„Ich habe keine Angst. Ich glaube, Angst ist immer ein schlechter Ratgeber. Ich bin vorsichtig. Überlege viel, aber Angst habe ich keine.““I'm not afraid. I think fear is always a bad advisor. I'm careful, I think a lot, but I have no fear.”