QuantWare, a Delft-based company offering large-scale superconducting quantum processors, raises €6M in Seed funding led by Forward.One with participation from QDNL Participations and Graduate Entrepreneur.
A year after raising €1.15M in pre-seed funding from FORWARD.one, UniiQ, Quantum Delta NL, Rabo Innovatie Lening (RIL), and Angel investors, QuantWare announces a new €6M funding round. The Dutch company plans to use the funds to grow its team and accelerate the production and development of its latest 64 qubit processor, Tenor. With more than twice the number of qubits than its previous largest QPU and a 10x lower price point, Tenor is set to revolutionize the quantum computing industry. The company states that its processors, which boast fully controllable qubits, are highly compatible with powerful error-correction schemes.
QuantWare Aims to Become the ‘Intel’ of Quantum Computing
Founded in 2020 by Dr. Alessandro Bruno and Matthijs Rijlaarsdam, QuantWare develops, designs, and manufactures scalable, superconducting quantum processors. The Dutch company aspires to be the ‘Intel of quantum computing,’ offering increasingly powerful, easy-to-use, and cost-effective quantum processors to organizations worldwide.
QuantWare has patented a 3D technology that facilitates vertical connections, enabling the scaling of superconducting quantum processors to thousands of qubits, potentially leading to the ‘quantum advantage.’
According to Matthijs Rijlaarsdam, QuantWare is continually improving its QPUs in terms of qubit count and quality and collaborates with top industry players to scale the other components. This enables third parties to build a quantum computer at one-tenth of the cost of competing options.
Last year, the startup was selected to provide quantum processing units for Israel’s first fully functional quantum computer, highlighting the company’s expertise and technological advancements in the field.
Matthijs Rijlaarsdam, co-founder of QuantWare, discusses the company’s partnerships, stating, ‘We have a longstanding partnership with SeeQC and are collaborating with other quantum ecosystem partners in the Netherlands to build open-quantum architecture systems.’
Rijlaarsdam also shares that the dutch company plans to introduce several new chip components and implement quality improvements, promising ‘exciting announcements to come.
Abou The Investors
FORWARD.one is a venture capital fund focused on high-tech hardware startups and scaleups, managing €200M across multiple funds. The VC invests in a range of hardware technologies, including robotics, semiconductors, photonics, sensors, virtual/augmented reality, and biomanufacturing.
Paul Pruijmboom, Partner at FORWARD.one Venture Capital for Hardware, expresses his pride in being one of the first investors to recognize QuantWare’s potential in 2021. He states, ‘With this Seed Round investment, QuantWare will continue to lead innovation in the superconducting quantum space and drive the advent of real-world quantum applications.’
Ton van ‘t Noordende, Managing Director of QDNL Participations, shares his excitement in supporting QuantWare’s development of state-of-the-art Quantum Processor Units, which are poised to deliver quantum advantage to end-users in both R&D and commercial markets.
Ludolf Stavenga, Partner at Graduate Entrepreneur, is thrilled to see the technology developed by TU Delft being utilized by QuantWare to make an impact in the world.