Finnish simulation software provider Quanscient raises €3.9M in a seed round
20 April, 2023, 14:00
The Tampere-based provider of supercomputer-level solution for simulations, Quanscient has raised €3.9 million in a seed financing round led by Maki.vc. The investment will help to accelerate the stratup’s product development and expansion.
- Launched in 2021 by Alexandre Halbach, Asser Lahdemaki, and Valtteri Lahtinen, Quanscient offers a cloud and quantum computing-powered multiphysics simulation technology. The platform enables faster product development and speeds up bringing products to market, saving time and costs for innovating companies. The startup claims that it can also help optimize products, making them more energy efficient and sustainable.
- Quanscient’s team consists of 18 employees. To date, 17 global companies use Quanscient’s simulation technology in their research and product development, among them is Intel.
“With the help of our technology, innovation and product development become more efficient, and products are brought to market faster. For example, simulating superconductors, that are crucial for fusion energy, MRI devices, and high-tech components, is extremely complex. With the existing solutions, it can take up to a month to run a superconductor simulation to provide feedback for product development. Quanscient can do this in a few hours,”Juha Riippi, co-founder and CEO of Quanscient says.
- The fresh round was led by Finnish Maki.vc, an early-stage VC firm that primarily invests in deeptech, foodtech, healthcare, AI, ML. Earlier in 2023, the fund co-led a €3.4 million seed round for French deeptech Ever Dye, and participated in a €7.5 million round for Swedish climatetech CarbonCloud.
- The investment also includes €446,000 of non-equity funding from Business Finland, including a quantum research grant and R&D loan.