Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

Quantum Systems / Private Capital Markets

<ul><li>Quantum Systems generated $330M in revenue in 2025, up 161% year-over-year from $124M in 2024.</li><li>The CFO said in July 2026 that revenue is on track to maintain a similar rate of growth in 2026, implying a trajectory toward $600M or more for the full year.</li><li>Quantum Systems closed a $1.2B Series D on July 2, 2026, at a post-money valuation of approximately $8B, co-led by Blackstone, Noteus, Airbus, and Advent.</li></ul>

Quantum Systems generated $330M in revenue in 2025, up 161% year-over-year from $124M in 2024.The CFO said in July 2026 that revenue is on track to maintain a similar rate of growth in 2026, implying a trajectory toward $600M or more for the full year.Quantum Systems closed a $1.2B Series D on July 2, 2026, at a post-money valuation of approximately $8B, co-led by Blackstone, Noteus, Airbus, and Advent.

<ul><li>Sacra estimates that Threod Systems generated $44 million in revenue in 2024, up 87% from the previous year.</li><li>Operating cash flow turned negative at -€1.28M in 2024 versus +€7.76M in 2023, reflecting working capital investments as the company scaled from 121 to 161 employees and expanded manufacturing capacity.</li><li>The company&#39;s revenue target of reaching $110 million within the next few years suggests management expects this defense spending boom to continue.</li></ul>

Sacra estimates that Threod Systems generated $44 million in revenue in 2024, up 87% from the previous year.Operating cash flow turned negative at -€1.28M in 2024 versus +€7.76M in 2023, reflecting working capital investments as the company scaled from 121 to 161 employees and expanded manufacturing capacity.The company&#39;s revenue target of reaching $110 million within the next few years suggests management expects this defense spending boom to continue.

<ul><li>Sacra estimates that KrattWorks generated $22.2M in revenue in 2025, up 2,953% year-over-year from $728K in 2024.</li><li>The company&#39;s revenue trajectory shows a steep acceleration.</li><li>KrattWorks builds tactical drones that operate when GPS signals are jammed and radio links are severed.</li></ul>

Sacra estimates that KrattWorks generated $22.2M in revenue in 2025, up 2,953% year-over-year from $728K in 2024.The company&#39;s revenue trajectory shows a steep acceleration.KrattWorks builds tactical drones that operate when GPS signals are jammed and radio links are severed.

<ul><li>Skyfish raised over $20 million in a Series Seed round in June 2021, led by Henry Wolfond of Bayshore Capital and Steven Bernstein.</li><li>Skyfish is a full-stack drone manufacturer that builds everything from airframes and controllers to firmware and data processing software.</li><li>Skyfish operates a B2B model combining hardware sales with recurring software subscriptions, targeting government agencies and commercial infrastructure operators.</li></ul>

Skyfish raised over $20 million in a Series Seed round in June 2021, led by Henry Wolfond of Bayshore Capital and Steven Bernstein.Skyfish is a full-stack drone manufacturer that builds everything from airframes and controllers to firmware and data processing software.Skyfish operates a B2B model combining hardware sales with recurring software subscriptions, targeting government agencies and commercial infrastructure operators.

<ul><li>Quantum Systems bids directly with local entities vs. selling through partnerships with primes.</li><li>After becoming the first European drone company to deploy at scale in Ukraine immediately after the 2022 invasion, Quantum Systems has rode the upsurge of demand for drones.</li><li>Quantum is building Mosaic, a software-based command platform for unmanned warfare that governments license annually to orchestrate any vendor's drones across services.</li></ul>

Quantum Systems bids directly with local entities vs. selling through partnerships with primes.After becoming the first European drone company to deploy at scale in Ukraine immediately after the 2022 invasion, Quantum Systems has rode the upsurge of demand for drones.Quantum is building Mosaic, a software-based command platform for unmanned warfare that governments license annually to orchestrate any vendor's drones across services.

Quantum Systems At $124M/year Up 216% YoY

Singapore

Autonomous drone system for inspections, surveillance, and public safety operations

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Skydio (SKYDIO SG)

Primer: Quantum Systems - 03 Jul 2026

Developer and manufacturer of autonomous unmanned systems and multi-sensor payloads for aerial, ground, and maritime mission intelligence

Sacra

Primer: Threod Systems - 10 Mar 2026

Developer and producer of unmanned aircraft systems (UAS) for intelligence, surveillance, target acquisition, and reconnaissance operations

Sacra

Primer: KrattWorks - 10 Mar 2026

Developer of jamming-resistant tactical ISR drones with thermal and visual cameras for rapid situational awareness in critical scenarios

Sacra

Primer: Skyfish - 14 Dec 2025

Autonomous drone platform for inspecting, measuring, mapping, and modeling critical infrastructure

Sacra

Quantum Systems At $124M/year Up 216% YoY

TL;DR: After pivoting from civilian surveying drones to defense following Russia's 2014 Crimea annexation, Germany's Quantum Systems became the...

Sacra

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