Quantum continues to heat up as the Netherlands' QuantWare lands €6 million

Superconducting quantum processor designer, developer, and fabricator QuantWare scores the Netherlands’ largest seed round to date in the sector.
Quantum continues to heat up as the Netherlands' QuantWare lands €6 million

I’ve said it before, and I’ll say it again: 2023 is shaping up to be the year of quantum. If Tech.eu had a person of the year edition (hang on a minute, that’s not a bad idea), I’d be talking to the art department (myself) about how to feature a qubit on the cover.

So far, the major players are shaking out to be the UK, France, and the Netherlands, all recording startups with funding, in some cases quite significant amounts, and/or funds being launched that are aimed squarely at supporting the development of quantum technologies.

Now, one week to the day since unveiling the fund, QDNL Participations is participating (the hint is in the name) in a QuantWare’s record setting €6 million seed round. Forward One took lead, with Graduate Entrepreneur also on board.

With the goal of becoming the ‘Intel of quantum computing’, Quantware intends to use the new funds to scale the team size in order to support the production and development of its new 64 qubit processor ‘Tenor’.

“We believe that one of the key ways to supercharge development of the quantum computing sector is to provide the technology to enable companies to significantly scale their solutions at much lower costs,” says QuantWare CEO Matthijs Rijlaarsdam. “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.”

QDNL Participations Managing Director and guest on Tech.eu’s Drive at Five Episode 23, Ton van 't Noordende commented, “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.”

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