Munich, Germany – European quantum computing leader, planqc, has announced the successful securing of €50 million in financing. The Series A investment is headed by the European Family Office CATRON Holding and the DeepTech & Climate Fonds (DTCF), with additional support from Bayern Kapital, the Max-Planck Foundation, private investors, and existing investors UVC and Speedinvest. The financing also includes a non-dilutive grant from Germany’s Federal Ministry of Education and Research (BMBF).
Alexander Glätzle, CEO and co-founder of planqc, expressed his excitement over the recent investment, stating “This latest round of funding is a strong validation of our technology as a leading platform for quantum applications. With this substantial backing, we are well-positioned to compete globally with our ‘Made in Germany’ quantum computers, targeting a rapidly growing market worth billions of euros.”
The unique technology developed by planqc, based on award-winning research from the Max-Planck-Institute for Quantum Optics (MPQ), aims to accelerate the development of industry-relevant quantum computers. The newly secured financing will be used to establish a quantum computing cloud service and develop quantum software for various industries, including chemistry, healthcare, climate-tech, automotive, and finance. planqc is already utilizing quantum machine learning for projects such as climate simulations and improving the efficiency of batteries for electric vehicles.
Dr. Torsten Löffler, Investment Director at DTCF, expressed their enthusiasm for the investment, saying “We are excited to support a startup that not only leads in high-impact technology but also enables breakthroughs in pressing global computational challenges across multiple industries through its quantum cloud computing service. planqc’s impressive track record, including securing contracts and public grants, within just 18 months of operation highlights their role as a leader in the quantum computing sector in Europe and globally.”
For media inquiries, please contact Felix Mohring at planqc@piabo.net.
This news story was distributed by press release distribution service, pressat.co.uk.
