QDNL Participations announces its participation in a 6M EURO Seed investment in QuantWare

Delft-based company QuantWare, which is the leading provider of large-scale superconducting quantum processors, has announced a €6 million Seed Round, led by Forward.One, with QDNL Participations and Graduate Entrepreneur also playing a significant role in the round.

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Matthijs Rijlaarsdam, CEO of QuantWare:

"QDNL Participations played the essential role of being a true partner in this round. With their advice, network, and speed, they provided us with the support we needed to bring together this great consortium. I look forward to changing the quantum computing landscape together in the coming years!"

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What will the funds be used for?

• The company will use the funding to scale its team to support the production and development of its new 64 qubit processor ‘Tenor’.
• The device provides more than twice the number of qubits compared to its previous largest QPU, while at a 10x lower price point than competing solutions. This opens the door to quantum processors with thousands of qubits.

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QuantWare’s aim is to become the ‘Intel of quantum computing’ by providing easy-to-use, increasingly powerful and affordable quantum processors to organisations across the world.

QuantWare has developed a patented 3D technology that routes the connections vertically, making it possible to scale superconducting quantum processors to thousands of qubits - opening the door to ‘quantum advantage' where quantum computers will overtake the most powerful classical computer. Tenor marks a significant advance in commercial quantum computing because it is the first device commercially available that features this technology. 

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Ton van 't Noordende, our Managing Director, said:

“We’re incredibly excited to back Matthijs, Alessandro and the team as they continue to develop and deliver state of the art Quantum Processor Units. They’re well on their way to deliver quantum advantage to end users and perfectly positioned to serve both R&D and commercial markets in the future.”

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QuantWare is a TU Delft / QuTech spin-out that develops, designs and fabricates scalable, superconducting quantum processors. By supplying these processors to third parties, QuantWare allows them to build a quantum computer for 1/10th the cost of competing solutions. The company develops technology that will massively scale the number of qubits in a single processor, to create processors that can perform useful quantum computation in the near term.

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