Czech Tensor Ventures leads a €4.3M round for German Quantagonia

Frankfurt-based quantum computer software developer Quantagonia has announced the raising of €4.3 million in a seed round. The investment was led by Tensor Ventures and will be used for further product development and expansion sales efforts.

• Quantagonia was founded in 2021 by Dirk Zechiel, Prof. Dr. Sabina Jeschke, Prof. Dr. Sebastian Pokutta, and Philipp Hannemann, now the team consists of 15 experts. ‍
• The startup offers solutions for computationally intensive industrial applications in the fields of AI/ML, simulation, and optimization via its Hybrid Quantum Platform. To date, it can integrate seamlessly with manufacturers of both classical hardware (i.e., CPUs & GPUs) and quantum hardware. 
• In December 2021, the startup has received a pre-seed round of investment from the FTTF (Fraunhofer Technology Transfer Fonds), Finnish VC Voima Ventures, and a German family office. In the fresh seed round, Prague-based deep tech VC Tensor Ventures was the leading investor. Earlier this year, Tensor Ventures invested in Antiverse, a UK-based biotechnology company.

“In Germany, the transfer from basic research to industry is generally still too cumbersome. Quantagonia stands out as one of the few European startups that facilitates this process, leveraging their expertise in research and successful business development, thereby strengthening our economic and technological location,” 

Martin Drdúl, founder and general partner of Tensor Ventures.

• The startup aims to extend the benefits of its Hybrid Quantum Platform to a wide market spectrum, to continue product development and sales expansion.