German drone start-up Stark is in talks with investors to raise at least €300mn in a new funding round that could more than double the company’s valuation to about €2.5bn, according to people familiar with the matter.
The latest fundraising move by Stark, which makes “kamikaze” drones and is backed by US technology billionaire Peter Thiel, highlights how investors are clamouring to put money into the booming defence sector.
People briefed on Stark’s discussions with investors cautioned that no deal had been finalised and that the size of the fundraising and the company’s valuation could yet change. Stark declined to comment.
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