PRESS RELEASE — Quantonation announced it led a series-A financing round securing more than 12 million euros ($13.5 million US), together with new research funding, to give HQS Quantum Simulations funds to enhance its Quantum Assisted Design cloud platform, grow the team in Germany and abroad and expand its already large customer base.
HQS Quantum Simulations was formed in 2017 as a spin-off of the Karlsruhe Institute of Technology (KIT) in Germany, and develops software for the simulation of quantum systems. Today the company is strong of 30 talented scientists from a range of disciplines
The startup’s software suite works on hybrid computational classical-quantum approaches to simulate materials and their molecular properties and give researchers and practitioners the deeper insights they need to identify the ideal solution for their needs. HQS has the goal of putting companies and scientists in a position to quickly and efficiently switch their simulation workflows over to quantum computers once their performances are good enough to achieve a quantum advantage with respect to classical High Performance Computing (HPC) infrastructures.
Existing investors UVC Partners, btov Industrial Technologies and High-Tech Gründerfonds (HTGF), all participated in this round of funding.
“The new financing round provides us with the resources we need to continue growing our team, strengthen our base, and find even more efficient ways of meeting the demands of our customers,” says Michael Marthaler, CEO at HQS Quantum Simulations. “Our investors’ reaffirmed confidence in us and the fact that Quantonation, the best regarded VC fund in the industry, is now on board, shows that we’re on the right path.”
Quantonation, the first VC fund worldwide to specialize in quantum technology, is leading the financing round. “Quantonation is committed to the development of quantum technologies and to their transition into commercially viable products” says Christophe Jurczak of Quantonation. “High performance computing is an exciting market for this, and we believe that HQS Quantum Simulations is developing the right products for chemical and physical simulations on a quantum level – products that will have a tremendous impact on these industries.”
Jurczak is joining HQS Quantum Simulations’ board.