QphoX welcomes €8M, the largest investment in a quantum company in the Netherlands to date

QphoX, a Dutch startup working on critical quantum internet technologies, has raised €8 million in its latest funding round. Marking the largest investment in a quantum company in the Netherlands to date, the capital will be used to enable QphoX to bring its quantum modem technology to market.

While qubit counts and the associated number of gates continue to climb, the reality of the day when quantum computing reaches everyday market potential might not be as far off as once believed.

If we’re to one day have every convenience of what classical computing offers us at our fingertips, and hopefully countless yet-untold wonders, a key component of those conveniences and advantages is connectivity to the outside world.

However, just like in the world of classical computing, the building of a Goliath doesn’t happen overnight. In the case of QphoX, they’ve taken on the task of networking, more specifically, the core hardware required to make it all happen.

The startup’s technology centres around the ability to enable quantum transduction, a process that sees quantum information translated between two different domains, microwave and optical.

In October 2023, QphoX shared its demonstration of optical-frequency readout of superconducting qubits, and according to QphoD co-founder and CEO Simon Groeblacher:

“At the moment, we are the only company with the transduction hardware at a performance level that will allow quantum systems to connect through optical quantum channels.”

Now that the company has demonstrated its proof of concept, it’s time to cut the concept and commercialise.

QphoX’s €8 million round was led by QDNL Participations, alongside the EIC Fund, with existing investors Quantonation, Speedinvest, High-Tech Gründerfonds, and Delft Enterprises participating.

QDNL Participations venture partner Chad Rigetti commented:
“Quantum transduction, and the ability to interconnect modular quantum computers over an optical network, is a breakthrough capability that could shift how we think of building large scale quantum computers and the quantum internet. QphoX is the clear leader in this category. We’re thrilled to back them in their mission to build a leading global quantum hardware company.”

Lead image: The QphoX team. Photo: Uncredited.