Speedinvest joins a €50M series A round for German planqc

planqc, the Munich-based company operаting in a digital atom-based quantum computing, has secured a €50 million financing. The fresh Series A investment was led by the European Family Office CATRON Holding and the DeepTech & Climate Fonds. Additional financial support is provided by Bayern Kapital, the Max-Planck Foundation, UVC, and Speedinvest.

  • planqc was founded in 2022 by scientists from MPQ and Ludwig-Maximilians-University Munich, Alexander Glätzle and Sebastian Blast. It develops an industry-relevant quantum computers. Today, planqc is already using quantum machine learning to work on climate simulations or more efficient batteries for electric vehicles.
  • Recently, the company has been commissioned to deploy a 1,000-qubit quantum computer at the Leibniz Supercomputing Centre by the German Government. Moreover, planqc received a European tender to develop a quantum computer for the German Aerospace Center (DLR).

Unlike most other companies, including Big Tech, we use individual atoms – confined in crystals of light – as qubits. This approach is the fast track to scaling the number of qubits and improving their quality, the prerequisites for being the first to deliver fault-tolerant quantum computers,

Dr. Sebastian Blatt, CTO of planqc, said.

The funding details:

  • The fresh investment was led by by the European Family Office CATRON Holding and the DeepTech & Climate Fonds (DTCF). Additional financial support is provided by Bayern Kapital, the Max-Planck Foundation, further private investors.
  • Existing investors UVC is a Munich- and Berlin-based early-stage venture capital firm investing in European B2B startups in the fields of deeptech, climate tech, enterprise software and mobility, and Speedinvest, a venture capital fund with more than €1 billion to invest in pre-seed, seed, and early-stage tech startups across Europe. In May this year, Speedinvest also led a €1.3 million pre-seed round for hexafarms, a German agritech.
  • The financing also includes a non-dilutive grant from Germany’s Federal Ministry of Education and Research (BMBF).

Fresh financing will be used to establish a quantum computing cloud service and to develop quantum software for applications in industries such as chemistry, healthcare, climate tech, automotive, and finance.

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