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planqc raises EUR 50 million in Series A funding to establish cloud services and develop quantum software
Quantum Computing
Jul 8, 2024
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Quantum Computing

Quantum Computing

Jul 8, 2024

planqc raises EUR 50 million in Series A funding to establish cloud services and develop quantum software

Funding

  • Digital atom-based quantum computing developer planqc has raised EUR 50 million (~USD 54 million) in a Series A investment round led by CATRON Holding and the DeepTech & Climate Fonds (DTCF), with contributions from Bayern Kapital, the Max-Planck Foundation, private investors, and existing investors such as UVC and Speedinvest. The funding also included a non-dilutive grant from Germany's Federal Ministry of Education and Research (BMBF).

  • The new funds are expected to establish a quantum computing cloud service and develop quantum software for application in various industries such as chemistry, healthcare, climate tech, automotive, and finance.

  • planqc offers a unique technology based on research from the Max-Planck-Institut for Quantum Optics. The technology enables using individual atoms confined in light crystals as qubits, improving the quality and scalability of quantum computers. The company is already using quantum machine learning for projects like climate simulations and developing more efficient batteries for electric vehicles.

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