Spotify and Thiel-backed startups win German military drone contracts
Startups with backing from Spotify founder Daniel Ek and prominent investor Peter Thiel have won contracts to supply drones to the German military, as reported by the Financial Times. The deals reflect a broader shift in European defense procurement, with traditional military contractors increasingly competing alongside agile tech startups for government contracts.
The contracts come at a time when European nations are significantly boosting defense spending in response to the war in Ukraine and growing concerns about security on the continent. Germany, which has historically been cautious about military investment, has undertaken a major rearmament effort. The involvement of high-profile tech investors like Ek and Thiel highlights the growing intersection of Silicon Valley capital and European defense, as governments seek to leverage cutting-edge technology for military applications.
The contracts come at a time when European nations are significantly boosting defense spending in response to the war in Ukraine and growing concerns about security on the continent. Germany, which has historically been cautious about military investment, has undertaken a major rearmament effort. The involvement of high-profile tech investors like Ek and Thiel highlights the growing intersection of Silicon Valley capital and European defense, as governments seek to leverage cutting-edge technology for military applications.