QuantWare Secures Record-Breaking €152 Million Investment for Quantum Processor Advancements

QuantWare, a company based in Delft specializing in industrial quantum processors, has recently announced a significant milestone in its journey. With the unveiling of VIO-40K, a quantum processor architecture capable of supporting 10,000 qubits, QuantWare has secured a staggering €152 million ($178 million) in its Series B funding round. This quantum processor architecture is a giant leap forward, being 100 times larger than the current state-of-the-art technology.

The Series B funding round saw the participation of new investors such as Intel Capital, IQT, and ETF Partners, alongside existing investors like FORWARD.one, Invest-NL Deep Tech Fund, InnovationQuarter Capital, Ground State Ventures, and Graduate Ventures. This round is believed to be the largest private investment raised by a dedicated quantum processor company to date.

CEO and co-founder of QuantWare, Matt Rijlaarsdam, expressed his excitement about the progress the company is making. He emphasized the importance of manufacturing and deploying quantum computing at a scale that can address humanity’s most challenging problems. Rijlaarsdam highlighted the capabilities of VIO-40K in delivering 10,000-qubit processors on an open architecture, enabling the entire ecosystem to build upon this foundation. The company’s industrial production capacity, known as KiloFab, is set to meet the growing global demand for quantum computing.

According to Kike Miralles from Intel Capital, the challenge in superconducting quantum computing lies not only in qubit design but also in routing, packaging, and manufacturability. QuantWare’s approach with VIO is seen as a strategic move to address these challenges and position the company as a leader in the future development of superconducting quantum systems.

Established in 2021 by Matt Rijlaarsdam and Alessandro Bruno as a spinout from QuTech at TU Delft, QuantWare specializes in designing, fabricating, and integrating quantum processors on VIO – a scalable QPU architecture for superconducting qubits. The company has already shipped more quantum processors than any other commercial supplier, serving over 50 customers across 20 countries.

QuantWare’s commitment to innovation is evident in its development of KiloFab, the world’s largest dedicated quantum open architecture fab. This initiative aims to enhance the company’s production capacity by 20 times to meet the increasing demand for quantum computing on a global scale.

General Partner at FORWARD.one, Robin van Boxsel, commended QuantWare’s ambition in building a global compute hardware company. He highlighted the significance of VIO technology in positioning the company as a key player in the high-growth quantum industry.

QuantWare prides itself on being the sole provider of modular quantum processors designed on an open architecture at an industrial scale. Its proprietary VIO technology allows for the creation of powerful quantum processors that offer optimal compute efficiency. The company’s open platform approach enables third parties to scale qubit chiplets and designs, unlocking the potential for the most powerful quantum processing units in the industry.

J.D. Englehart from IQT emphasized the strategic importance of quantum computing in today’s world and praised QuantWare for its breakthrough scaling technology in VIO. He highlighted the company’s industrial capability in KiloFab, positioning QuantWare to play a pivotal role in shaping the global quantum supply chain.