QuantWare Raises €6 Million ($6.3M USD) in Seed Funding

QuantWare, a Dutch provider of superconducting quantum processor chips, has received €6 million in seed funding in a round led by led by Forward.One with additional participation from the QDNL Participations Fund and Graduate Entrepreneur. The company, whose goal is to become the "Intel of quantum computing", sells standalone quantum processor chips for organizations that want to build up their own quantum computer and achieve an acquisition cost which the company claims will be 1/10th of the price of buying a full quantum computer from one of the suppliers. They recently announced a 64 qubit QPU called Tenor. (See the QCR report on it here.) This new chip uses a QuantWare's patented 3D architecture which may make it easier to scale future products to higher capacities. The company was also selected to provide processor chips for Israel’s first fully functional quantum computer. Additional information is available in a news release posted on the QuantWare website which can be accessed here.

March 9, 2023