Voima Ventures latest investment, Quantagonia, a quantum computing software firm, has successfully completed its seed fundraising, bringing its total funding to €4.3 million.
In addition to two other European deep tech VCs and Tensor Ventures, financial support has also been secured from a state holding company and a family office.
The company’s groundbreaking B2B SaaS solution, the “Hybrid Quantum Platform,” sets itself apart by seamlessly combining the strengths of classical and quantum computing while utilizing existing computer programs. Quantagonia aims to extend the benefits of its platform across diverse industries. The funding will fuel product development and sales expansion.
As corporations grapple with complex decision-making and increasing process control demands, traditional computers face limitations in optimisation algorithms, simulations, and AI implementation. Quantum computing, an emerging technology, offers the potential to overcome these challenges by solving tasks faster and enabling entirely new solutions.
However, existing program codes and applications are incompatible with quantum computers, necessitating a redefinition of algorithms. Quantagonia envisions a revolution in computing, with its Hybrid Quantum Platform facilitating the execution of existing code on both classical and quantum architectures, enabling innovative AI-driven solutions.
“Germany and Europe must act now to become ‘quantum ready.’ We must not repeat the missed opportunities and failure to seize innovation that we experienced with Artificial Intelligence. Companies need to take immediate action to harness the future advantages of Quantum Computing,” emphasises Dirk Zechiel, CEO and co-founder of Quantagonia.
Quantagonia stands out among European startups as a facilitator of the transfer from basic research to industry, leveraging their expertise in research and successful business development. This strengthens the economic and technological landscape, according to Martin Drdúl, representative of lead investor Tensor Ventures.
The platforms main advantage is that it integrates seamlessly with leading classical and quantum hardware manufacturers. Their HybridSolver empowers customers to solve optimisation problems using both quantum computers and classical hardware. Even customers who have yet to adopt active quantum applications can benefit from Quantagonia’s expertise in conducting use-case analyses and implementing forward-looking solutions.
Why it Matters:
The funding secured by Quantagonia signifies a significant step forward in advancing quantum computing innovation and solidifies Voima Ventures strategy of supporting early stage technologies in this sector. By bridging the gap between classical and quantum computing and making existing programs compatible, Quantagonia’s Hybrid Quantum Platform opens doors to transformative solutions across industries.
This development is crucial for businesses as it offers the potential to overcome current limitations and drive progress in optimisation, simulations, and AI. Furthermore, by leading the way in quantum technology adoption, Quantagonia contributes to Voima Ventures position as global leader in investing in cutting-edge technologies which foster economic growth and technological advancement in Europe.