Quanscient secures €5.2M for quantum algorithms-driven platform

Finnish quantum startup Quanscient, has raised €5.2 million for its quantum algorithms software. The round was led by Nordic firm Crowberry Capital and Speen Holding with follow-on investments from Finnish early-stage venture capital investors Maki.vc and First Fellow. 

Quanscient has built the world's first multiphysics simulation platform that seamlessly integrates cloud-native multiphysics solvers, advanced cloud computing, and future quantum integration. The platform offers engineers a hundredfold increase in simulation throughput, enabling fully digital R&D processes and addressing complex technology challenges in industries like fusion energy, 6G/7G, advanced semiconductors, biomedical, automotive, and aerospace.

Quantum computing promises higher accuracy and speed for multiphysics simulations, and has the potential for simulation capabilities that were previously impossible. The company partners with industry leaders in cloud computing and quantum algorithms, such as AWS, Intel, IBM, and NVidia as well as many quantum hardware companies such as IQM.

The main application for these advanced simulations is to allow engineers to explore multiple design alternatives, reducing risk and enhancing product performance without costly, time-consuming real-world testing. 

“To stay competitive, companies developing transformative technologies need better tools to rapidly test scenarios, optimize designs, and speed up time-to-market. Our solution boosts simulation capacity by 100 times, enabling engineers to iterate faster and tackle more complex challenges. This leads to superior products and a quicker, lower-risk path to market," commented Juha Riippi, co-founder and CEO of Quanscient.

"With our new funding, we'll continue to make breakthroughs in quantum algorithms. We're set to revolutionize simulations by integrating our pioneering quantum algorithms within the next few years, transforming the future of engineering and pushing the boundaries of what's possible.” she added.

“With Quanscient’s multiphysics simulations, global companies solve their most complex engineering challenges faster and more efficiently than ever before. By offering superior multiphysics capabilities, Quanscient speeds up innovation and creates significant value across rapidly growing global industries,” said Jenny Ruth Hrafnsdottir, Founding Partner at Crowberry Capital.

“The next-generation quantum algorithms mark a game-changing advancement in simulation technology, with Quanscient at the forefront. We're excited to join them on their path to becoming the leader in quantum simulations.”