eleQtron, a German DeepTech scale-up developing trapped-ion quantum computers, has closed a €57 million ($67 million) Series A funding round to build scalable production capacity, expand cloud-based access to eleQtron’s systems, and further advance development of its hardware platform.
The round was led by Schwarz Digits, part of the Schwarz Group. The EIC Fund of the European Innovation Council (EIC) is also a key investor. Participation also comes from existing investors such as Earlybird, as well as new investors, including French VC firm Ankaa Ventures, laser equipment specialist Precitec, and development banks NRW.BANK (Düsseldorf) and IFB Hamburg. The funding package also includes individual grants from the European Union and the state of North Rhine-Westphalia.
“Quantum computing is transitioning from a research-driven technology to an industrially usable infrastructure. With this funding, we are accelerating that transition and building systems that will solve real-world industrial problems,” stated Jan Henrik Leisse, CEO and co-founder of eleQtron.
eleQtron was founded in 2020 by Prof Dr Christof Wunderlich, Dr Michael Johanning, and Jan Leisse. This spin-off from the Quantum Optics Chair at the University of Siegen develops quantum processors based on trapped ions.
According to the company, for more than 20 years, researchers have been attempting to develop scalable quantum computers that take advantage of quantum effects. “In the process, however, they are encountering new challenges. The greatest difficulty is shielding and controlling the qubits. They must be isolated from the environment by elaborate processes. Which, depconcludeing on their architecture, places enormous demands on cooling and controllable environments. Precise control of the quantum states generated is also difficult to master,” mentioned the company.
Its proprietary MAGIC technology (Magnetic Gradient Induced Coupling) enables highly precise and scalable control of qubits applying microwaves. Thereby providing a path toward scalable quantum computers.
It claims that individual control of qubits can be integrated into trap chips and can be done with unparalleled quality. The company states that it has already been able to demonstrate that control with its IRS MAGIC technology does not exert any undesirable side effects on other qubits, thus significantly reducing a major source of error.
eleQtron also mentions that the laser cooling, as well as the readout of the quantum bits, can be performed with much simpler lasers. “Commercially available, robust and proven technology is utilized to control them. In principle, scaling up to more ions will pose no problems either: miniaturised structures for trapping ions and controlling qubits can be integrated on chips,” declares the company.
The company already has an order backlog of more than €60 million. It employs more than 100 people and partners with leading European research and computing centres to advance the industrial utilize of quantum computing.
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