Terra Quantum

Terra Quantum is a Swiss deep tech and quantum technology startup developing multiple quantum solutions including industry-specific quantum algorithms, quantum cryptography, quantum internet, quantum random number generator (qRNG), and quantum-assisted magnetic resonance imaging (MRI) scanners. Apart from quantum computing, the company also carries out projects incorporating AI and machine learning. 

The company launched Alpha, reportedly the industry-first commercial hybrid quantum cloud data center, in January 2022, as part of its joint venture QMWare (established in October 2020) with Austria-based Novarion. It also launched its “super-secure” global quantum cryptography protocol, which enables quantum key distribution across greater distances. The platform offers virtual qubits and access to other hardware platforms. However, it aims to build its own hardware in the future, potentially leveraging the superconducting qubits technology—the method adopted by tech giants Google and IBM to develop quantum systems.

In December 2023, Terra Quantum launched a new cloud-based quantum-software-as-a-service platform TQ42 to make quantum solutions easily accessible across different industries.

Key customers and partnerships

In May 2022, the company partnered with an automotive company  Data:Lab to develop quantum applications for the automotive industry. The company entered a finance agreement with HSBC in September 2023 to explore quantum computing in real-world financial applications. In November 2023, it partnered with NVIDIA to further develop data analytics by using hybrid quantum computing. In March 2024, the company entered a partnership with MegazoneCloud to advance the use of quantum technologies in Asia. 

Funding and financials

Terra Quantum’s latest Series A funding round (January 2022) raised USD 60 million. The round was led by Lakestar with participation from other undisclosed investors. The funds were allocated to advance the company’s quantum cryptography and cybersecurity offerings.