Quantum Computing startup planqc raises 50 million euro
- Written by Telegraph Magazine
MUNICH, GERMANY - Newsaktuell - 8 July 2024 - planqc, the European leader in digital atom-based quantum computing, proudly announces the securement of €50 million financing. This substantial Series A investment is led by the European Family Office CATRON Holding and the DeepTech & Climate Fonds (DTCF).
Additional financial support is provided by Bayern Kapital, the Max-Planck Foundation, further private investors, existing investors UVC and Speedinvest and it includes a non-dilutive grant from Germany's Federal Ministry of Education and Research (BMBF). 
Alexander Glätzle, CEO and co-founder of planqc: "This latest investment round is a strong endorsement of our technology as a leading platform for quantum applications. The substantial backing places us in a perfect position to take on global competitors with our 'Made in Germany' quantum computers, targeting an emerging market valued at billions of euros."
planqc's unique technology, built on award-winning research at the Max-Planck-Institute for Quantum Optics (MPQ), aims for rapid advancement in the development of industry-relevant quantum computers. The new financing will be utilized to establish a quantum computing cloud service and to develop quantum software for applications in industries such as chemistry, healthcare, climate-tech, automotive, and finance. Today, planqc is already using quantum machine learning to work on climate simulations or more efficient batteries for electric vehicles.
Dr. Torsten Löffler, Investment Director at DTCF: "We are thrilled to invest in a startup that not only leads in high-impact technology but also enables further breakthroughs in most pressing global computational challenges across various industries by offering access to the technology in form of a quantum cloud computing service. planqc's impressive track record in securing contracts – in particular the DLR Tender – and public grants within just 18 months of operations underscores the company's role as a frontrunner in the quantum computing sector both in Europe and globally.
The issuer is solely responsible for the content of this announcement.
