QuantrolOx raises €12 million to industrialise quantum hardware
The investment will accelerate QuantrolOx’s commercial growth and international expansion, including its growing presence in North America following the opening of its first US office in Berkeley, California. The round brings its total funding to approximately EUR 28 million.
QuantrolOx, a University of Oxford spinout headquartered in Finland with offices in the UK, Netherlands, US and India, has raised EUR 12 million in a Series A2 funding round led by IW Capital, with co-investment from the European Innovation Council (EIC) Fund. The round also includes participation from Voima Ventures, Serendipity Capital, Hoxton Ventures, and Transpose Capital, QuantrolOx said in a press release.
The investment will accelerate QuantrolOx’s commercial growth and international expansion, including its growing presence in North America following the opening of its first US office in Berkeley, California. The round brings QuantrolOx’s total funding to approximately EUR 28 million, the press release said.
“QuantrolOx is building the foundations of the quantum industry: our tools industrialise quantum hardware and train the people to run it,” Vishal Chatrath, Co-founder and CEO, QuantrolOx, said. “With IW Capital and the EIC Fund behind us, we are setting the standards and accelerating the path to practical quantum computing.”
“QuantrolOx has automated the slowest, most expert-dependent part of running a quantum computer, on any hardware,” Charlie Lyon Carroll, Investment Director at IW Capital, said. “With research accelerating and governments investing massive amounts of capital to support it, that software only gets more valuable.”
