kiutra Secures €13 Million ($15.2 Million USD) in Funding to Advance Helium-3-Free Quantum Cooling
Mohamed Abdel-Kareem2025-10-02T11:32:49-07:00kiutra, a company specializing in cryogenic cooling systems, has secured €13 million ($15.2 million USD) in a financing round, which brings its total private and public funding to over €30 million ($35.2 million USD). The round was co-led by NovaCapital and 55 North, with participation from High-Tech Gründerfonds and existing backers. The funding will support the development of kiutra’s proprietary magnetic cooling technology, which avoids the use of helium-3. The company’s systems use solid-state materials that are magnetized and demagnetized in a controlled way to reach ultra-low temperatures. The reliance of many quantum systems on scarce helium-3 has been flagged by [...]