Quantagonia Secures 4.3 Million Euros in Funding to Accelerate Quantum Computing Innovation

Quantagonia Raises 4.3 Million Euros to Drive Quantum Computing Innovation

Key Takeaways:

  • Quantagonia, a quantum computing software firm, has successfully concluded its seed fundraising round led by Tensor Ventures, bringing its total funding to 4.3 million euros. The round also included investments from three European deep tech VCs, a state holding, and a family office. Quantagonia’s “Hybrid Quantum Platform,” a unique B2B SaaS solution, allows existing computer programs to leverage the benefits of both classical and quantum computing. The company aims to expand the reach of its Hybrid Quantum Platform across a wide range of markets. The raised capital will be utilized for product development and sales expansion.
  • Traditional computers face limitations when it comes to optimization algorithms, simulation processes, and AI implementation, making quantum computing a promising solution. However, existing program codes and applications are not compatible with quantum computers, necessitating algorithm and program redefinition. Quantagonia addresses this challenge with its Hybrid Quantum Platform, which enables the execution of existing program code on both classical and quantum computer architectures, facilitating the use of innovative AI-based solutions.

Envisioning Quantum Computing Revolution and Its Applications

Quantagonia recognizes the growing need for Germany and Europe to embrace quantum computing and become “quantum ready.” The company aims to bridge the gap between basic research and industry adoption, leveraging its expertise in research and successful business development to strengthen the economic and technological landscape. Quantum computing has the potential to revolutionize computing and its applications, enabling faster and previously unattainable solutions.

Dirk Zechiel, CEO and co-founder of Quantagonia, emphasizes the importance of immediate action for companies to benefit from the advantages that quantum computing offers.

Investment Round and Expansion Plans

Following the pre-seed round in December 2021, which involved participation from FTTF (Fraunhofer Technology Transfer Fonds), Finnish Deep-Tech VC Voima Ventures, and a German family office, Quantagonia has secured additional investments from European Deep Tech VC Tensor Ventures, Beteiligungs-Managementgesellschaft Hessen, and existing backers, increasing its investment volume to 4.3 million euros.

Quantagonia’s Hybrid Quantum Platform provides customers with access to AI, optimization, and simulation applications. It seamlessly integrates with leading classical and quantum hardware manufacturers, allowing customers to resolve optimization problems using proof of optimality through the HybridSolver. Quantagonia also offers expertise in conducting use-case analyses and implementing future-oriented solutions.

Founded in November 2021 by Dirk Zechiel, Prof. Dr. Sabina Jeschke, Prof. Dr. Sebastian Pokutta, and Philipp Hannemann, Quantagonia comprises a team of 15 experts specializing in computer science, physics, mathematics, and business development. The company aims to accelerate the development and implementation of its platform while expanding its market reach.

About Quantagonia

Quantagonia is a quantum computing startup based in Frankfurt am Main, Germany. It offers solutions for computationally intensive industrial applications in AI/ML, simulation, and optimization through its Hybrid Quantum Platform. Quantagonia enables users to easily transition into quantum and hybrid computing.

About FTTF – Fraunhofer Technologie-Transfer Fonds

FTTF is an independent venture capital investor focused on deep tech companies affiliated with the Fraunhofer Society. As the first technology transfer fund in Germany, FTTF provides funding for startups in early stages, with investors including the Fraunhofer Society and the European Investment Fund (EIF).

About Voima Ventures

Voima Ventures is a Helsinki-based venture capital firm that helps founders accelerate the growth of deep tech companies in global markets. Their focus areas include Advanced Manufacturing, Life Sciences, Quantum & AI, and Sensing & Diagnostics. Voima Ventures combines scientific innovation with the experience of Nordic serial entrepreneurs and a global mindset.

About Tensor Ventures

Tensor Ventures is a Prague-based venture capital firm investing in deep tech areas such as Artificial Intelligence, Quantum Computing, IoT, Blockchain, and Biotechnology in the CEE region and beyond. They provide early-stage investment in promising technology companies, acting as industry experts and serial entrepreneurs bridging the seed and Series A stages.

About BMH (Beteiligungs-Managementgesellschaft Hessen)

BMH is a Wiesbaden-based investment and venture capital company and a subsidiary of Landesbank Hessen-Thüringen Girozentrale (Helaba). It supports Hessen’s economic development through its involvement with the Wirtschafts- und Infrastrukturbank Hessen (WIBank). BMH focuses on early-stage, growth, and mid-sized firms across various sectors, managing seven funds with a total invested volume of approximately 125 million euros.

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