Co-Founder Slamms Peter Thiel‑Backed Firm for "Double Standard" in Army Procurement
Economy / Finance

Co-Founder Slamms Peter Thiel‑Backed Firm for “Double Standard” in Army Procurement

Florian Seibel, co‑founder of the German firm Stark Defence, has now entered the debate over the Bundeswehr’s planned purchase of combat drones from a company in which U.S. investor Peter Thiel is also involved. “Peter Thiel is a world‑class tech investor” Seibel told the “Frankfurter Allgemeine Zeitung” (Saturday edition).

Seibel’s holding in Stark Defence is below ten percent. He and two partners founded Stark in 2024 after his own company, Quantum Systems, proved unable to produce attack weapons. Quantum develops unmanned reconnaissance systems that are likewise being tested by the Bundeswehr. According to Seibel, Thiel owns less than five percent of Quantum, giving the investor no special rights or controlling influence.

The Greens had earlier criticised the Defence Ministry’s plans to award a contract to a company in which Thiel has stakes. Seibel highlighted how crucial the early financing from Thiel’s fund had been for the companies, noting that “he stepped in when no other European was willing to fund us”. He added, “This double standard bothers me”.