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Reports: German-Based EleQtron Raises €50 million

eleqtron

Insider Brief

  • German-based eleQtron has raised over €50 million in new funds for developing its quantum computers.
  • Earlybird and Siegerlandfonds are among the participants in the round.
  • eleQtron develops and operates quantum computers based on trapped ions, RF control and Magnetic Gradient Induced Coupling, or MAGIC.
  • Image source: eleQtron

German-based eleQtron has raised over €50 million in new funds for developing its quantum computers, according to Tech EU. Participants in the raise included Earlybird and Siegerlandfonds.

According to the startup’s LinkedIn page, eleQtron develops and operates quantum computers based on trapped ions, RF control and Magnetic Gradient Induced Coupling, or MAGIC. The company is also researching concepts for quantum processors based on RF-controlled trapped ions.

The company, which is a spin-off from the Department of Quantum Optics at the University of Siegen, expects to offer subscription-based access to their quantum computers to optimization problems and to solve tough questions in the fields of quantum chemistry and logistics. EleQtron also offers hardware-specific quantum computing solutions consulting and quantum computer and component development and co-development.

“We are very excited to be part of eleQtron and to support this fantastic example of transferring excellent knowledge into relevant core technologies. The goal is to bring high-quality qubits from the lab to real-world applications,” Earlybird UNI-X’s Dr. Frédéric du Bois-Reymond told Tech EU.

EleQtron is a part of five sub-projects awarded a total of €208.5 million by the German Aerospace Center — DLR — to develop ion trap processors over the next four years, according to Tech EU.

To stay updated on the newest quantum computing news, click here.

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The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

What: GenMat Webinar

Jake Vikoren

Jake Vikoren

Company Speaker

Deep Prasad

Deep Prasad

Company Speaker

Araceli Venegas

Araceli Venegas

Company Speaker

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