Quantum technologies have contributed to small-scale developments and improvements in recent years. As quantum computing is gaining momentum, a Dutch startup QuantWare, which provides large-scale superconducting quantum processors, secured €6 million in seed funding, the largest ever in the Dutch quantum computing industry.
The investment round was led by Forward.One, which backed QuiX Quantum, another Dutch quantum processor manufacturer. Also, QDNL Participations and Graduate Entrepreneur invested in this round.
QuantWare will use the funding to scale its team to support the production and development of its new 64-qubit processor ‘Tenor’, its first device commercially available with this technology. In addition to this, QuantWare has signed a few notable deals including a €29 million contract to supply processors to Israel’s new quantum computing centre.
Matthijs Rijlaarsdam, CEO of QuantWare, said: “We believe that one of the key ways to supercharge the development of the quantum computing sector is to provide the technology to enable companies to significantly scale their solutions at much lower costs. This is what Tenor enables, and with this funding, we will be able to ramp up production and continue development of even more powerful processors.”
Paul Pruijmboom, Partner at FORWARD.one Venture Capital for Hardware, said: “We are proud to have been one of the first investors to see QuantWare’s potential in 2021. With this Seed Round investment, QuantWare will continue to spearhead innovation in the superconducting quantum space and accelerate the advent of real-world quantum applications.”
Ton van ‘t Noordende, Managing Director of QDNL Participations, said: “We’re incredibly excited to back Matthijs, Alessandro and the team as they continue to develop and deliver state-of-the-art Quantum Processor Units. They’re well on their way to deliver quantum advantage to end users and perfectly positioned to serve both R&D and commercial markets in the future.”
Ludolf Stavenga, Partner at Graduate Entrepreneur, said: “QuantWare is built on state-of-the-art technology from TU Delft. We are delighted to see this technology being used to make an impact in the world by QuantWare.”
Powerful yet affordable quantum processors
Founded in 2020 by quantum engineer Dr Alessandro Bruno and Delft University of Technology (TU Delft) graduate MSc Matthijs Rijlaarsdam, QuantWare aims to make quantum research accessible to researchers and startups through cost-efficient products.
QuantWare’s aim is to become the ‘Intel of quantum computing’ by providing easy-to-use, increasingly powerful, and affordable quantum processors to organisations across the world.
Its new processor, Tenor marks a significant advance in commercial quantum computing. The device provides over twice the number of qubits compared to its previous largest QPU at a 10x lower price point than competing solutions and opens the door to quantum processors with thousands of qubits.
QuantWare’s patented 3D technology routes the connections vertically, making it possible to scale superconducting quantum processors to thousands of qubits. Its quantum computers will overtake the most powerful classical computer.