The funding round currently under preparation is expected to reach 600 million euros. Airbus, Blackstone, and Balderton Capital are reportedly in the running to invest in Quantum, which already counts Peter Thiel among its backers. The precise terms have not yet been finalized, Bloomberg reports.

Quantum Systems secured a major contract worth 210 million euros with the German military late last year. During its previous fundraising round just six months ago, the company was valued at 3 billion euros.