Qilimanjaro announces €20 million first close of its Series A

Barcelona-based deep-tech startup Qilimanjaro Quantum Tech has completed an EUR 19.6 million first close of its Series A funding round, led by Indra Group, through IndraMind, with an investment of EUR 10 million. The Spanish Society for Technological Transformation (SETT), under the Ministry for Digital Transformation and Public Administration, has also renewed its commitment to the company with a new investment of EUR 9.6 million. 

The company expects to complete the round during the final quarter of the year, with the participation of Avançsa and other existing investors.

Qilimanjaro said the new capital will enable it to scale and industrialize its quantum computers, advance the development of new generations of chips, and increase its manufacturing and deployment capacity. 

“SETT’s renewed commitment and Indra’s entry bring together sovereign capital and industrial capital to protect, but also accelerate, national technological autonomy,” said Marta P. Estarellas, CEO of Qilimanjaro Quantum Tech. “Together, we are joining forces to bring quantum computing closer to strategic industrial sectors and to ensure that the quantum technology built in Spain continues to grow in Spain.”

“Quantum computing will mark a decisive leap in the evolution of artificial intelligence and in its ability to solve problems of enormous complexity,” said Ignacio Martínez, Managing Director of IndraMind. “With this transaction, Indra Group strengthens its position in this strategic field, while IndraMind expands the capabilities with which to develop sovereign and differentiated solutions for defense, security and industry.”

Enric Blasco, Director of Indra Group in Catalonia, said the transaction helps advance the group’s growth strategy in the region and strengthens its role as “a driving force within its ecosystem of innovation, supercomputing and quantum technologies.”