Danish Quantum software startup Kvantify, has announced the successful closure of a €10 million Seed round.
Kvantify leverages quantum and high-performance computing to create revolutionising solutions for complex scientific and industrial challenges.
It aims to make quantum computing technology widely accessible, and a valuable tool for businesses worldwide.
VC Dreamcraft leads the funding, along with biotech investor Lundbeckfonden, BioCapital and the private investment company 2degrees. Other notable investors include Redstone VC, Danish lead quantum VC 2xN, and EIFO.
According to Jacob Falck Hansen, Partner at Lundbeckfonden BioCapital:
“With our investment in Kvantify, we are broadening our footprint in and commitment to further strengthening the Danish life science ecosystem.
Quantum computing can deliver accuracy and derisking to the early stages of drug development to a level not possible with classical computers, enabling faster market speed.
We are therefore excited about this opportunity and look forward to working with the Kvantify team to bridge quantum computing and drug development to the future benefit of patients.”
In light of their successful product launch for a groundbreaking drug discovery tool, Hans Henrik Knudsen, CEO of Kvantify, comments:
“On behalf of the founding team, we are incredibly excited about completing our €10 million seed round, which marks a significant milestone for Kvantify.
This funding validates our vision of leveraging quantum computing to revolutionise the life sciences industry and provides us with the resources and strategic partnerships needed to accelerate our development and growth."
The investment will accelerate Kvantify’s efforts to leverage quantum computing to address complex problems in drug discovery and beyond. It will also boost the further development of quantum algorithms for chemical simulation, expanding their applicability across various industries.
Lead image: Kvantify. Photo: uncredited.
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