Quantum Computing: 3 Companies to Watch in Europe

January 24, 2024

As the quantum computing industry expands, uniting advanced science with groundbreaking technology, a handful of distinguished companies are making significant strides toward shaping a promising future. This article explores three such exciting quantum computing companies to watch based in Europe. We will explore the significant contributions of these innovators, poised to reshape the landscape of quantum computing and its potential impact across diverse sectors.

Quobly

The French company Quobly, Founded in 2022, specialises in developing quantum computing semiconductors with the aim of commercialising computers based on silicon technology. The company’s offerings are designed to address challenges like optimising energy distribution solutions and accelerating the computation of chemical properties, which can hasten the introduction of new drugs. This enables clients to tailor the services to their specific requirements.

On July 13th 2023, the company successfully secured EUR 19 million through a mix of debt and venture funding. The funding round, led by Innovacom (Paris), Supernova Invest, and Quantonation, established the company’s pre-money valuation at EUR 23 million. Other participants in this round included CEA Investissement, Crédit Agricole Alpes Développement, Caisse d’Epargne Rhone Alpes, Technocom2, and BNP Paribas. The raised capital will be strategically invested to enhance the company’s research and development capabilities and to implement the necessary remote access solutions for software development.

Kipu Quantum

Specialising in quantum computing technologies, this German-based company is focused on transitioning from traditional computers to quantum systems. Their platform incorporates a unique blend of hardware-software co-designs, tailored to address real-world issues across multiple business sectors. By implementing quantum algorithms at the convergence of customer-specific use cases, hardware platforms, and software layers, the company enables its clients to harness the benefits of quantum computing much sooner than other methods. This approach positions the company as a leader in delivering value through advanced quantum computing solutions.

On December 18th 2023, the company successfully raised EUR 10.5 million in venture funding, with the round spearheaded by Deloitte, HV Capital, and DeepTech & Climate Fonds. Additional participants included QAI Ventures, Quantonation, Entrada Ventures, First Momentum Ventures, and Onsight Ventures. The capital raised in this round is earmarked for expanding the company’s team, bringing in more top-tier quantum scientists, researchers, and engineers to reinforce its workforce.

QphoX

Dutch company QphoX is a developer of a quantum modem device designed to assist in connecting quantum computers across a network. The company’s quantum transducer is based on coupling microwave and optical photons through a mechanical intermediary resonator which in turn helps in converting information between the microwave domain and optical telecom frequencies, enabling clients to reduce the loss and improve fidelity transmission of quantum states.

On January 17th 2024, the company successfully secured EUR 8 million in venture funding, with QDNL Participations leading the investment round. Quantonation, along with four other investors, also contributed to this funding round. The capital raised will be utilised to launch the company’s inaugural products and initiate the journey towards tapping into the commercial opportunities of quantum computing.

Published on 24-01-2024