German quantum computing firm eleQtron secures €57M
The new capital will be used to build scalable production capacity, expand cloud-based access to eleQtron’s systems, and further develop its hardware platform. The company is also advancing its proprietary MAGIC technology.
German deep-tech startup eleQtron, a developer of trapped-ion quantum computers, has successfully closed an EUR 57 million Series A funding round led by Schwarz Digits, the IT and digital division of Schwarz Group. The EIC Fund of the European Innovation Council (EIC) is also among the key investors, eleQtron said in a press release.
Additional participation 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 Innovationsstarter GmbH. The funding package also includes individual grants.
The new capital will be used to build scalable production capacity, expand cloud-based access to eleQtron’s systems, and further advance development of its hardware platform, the company said.
In parallel, eleQtron is advancing its proprietary MAGIC technology (Magnetic Gradient Induced Coupling), which enables highly precise control of trapped ions using miniaturized microwave technology.
“Quantum computing is transitioning from a research-driven technology to an industrially usable infrastructure,” said Jan Henrik Leisse, CEO and Co-founder of eleQtron. “With this funding, we are accelerating that transition and building systems that will solve real-world industrial problems.”
This investment strengthens eleQtron’s position as a provider of scalable quantum computing systems for industrial applications, the press release said.
“Digital sovereignty is a top priority for us and our partners. Following our strategic decisions in the areas of cloud and artificial intelligence, the investment in eleQtron is a logical building block,” said Christian Müller, Co-CEO of Schwarz Digits. “We want to ensure that we remain independent in key technologies and actively shape forward-looking, secure IT infrastructures right here in Germany.”
“eleQtron combines a clearly differentiated technology with a compelling approach to scaling and commercializing quantum computing,” said Dr. Hendrik Brandis, Co-Founder & Partner, Earlybird. “In particular, the combination of proprietary technology and cloud-based access demonstrates how research can translate into real-world applications.”
“Companies such as eleQtron, which combine scientific excellence with a clear focus on scalable systems, are key to translating Europe’s strengths into globally competitive technologies,” said Svetoslava Georgieva, Chair of the EIC Fund Board.
