Frankfurt-based quantum computer software developer Quantagonia has announced the completion of a seed round, which when combined with an early 2022 pre-seed round, brings the company’s total amount raised to €4.3 million.
The company’s seed round was led by Tensor Ventures, and will be used to further product development and expand sales efforts.
While researchers and corporations alike continue the push the boundaries of technological advancement, particularly in the areas of optimisation algorithms, simulation processes, and the implementation of AI, the limits of what is capable with classical computers are being tested on a daily basis.
In tandem, the rapidly occurring advancements in the field of quantum computing bring the promise of not only meeting today’s computing challenges but opening up the possibility of presenting solutions that are currently inaccessible.
But to get from where we are today to an environment where quantum computing is the norm, algorithms, code, and applications are going to be redefined. Where Quantagonia fits into the picture is by facilitating the bridge between the “old” world computer and the “new” age computer via its Hybrid Quantum Platform.
"It is of great importance for Germany and Europe to take action now and become 'quantum ready'. We should not allow a repetition of missed breakthroughs and the subsequent failure to seize innovations, as we experienced with the introduction of Artificial Intelligence. Companies need to take immediate action to benefit from the advantages that Quantum Computing will offer in the future," says Dirk Zechiel, CEO and co-founder of Quantagonia.