Quantum Transistors Receives €17.5M ($19M USD) from European Innovation Council to Develop Scalable Quantum Computing Technology
Mohamed Abdel-Kareem2024-07-25T21:30:47-07:00Israeli quantum computing company Quantum Transistors has secured up to €17.5 million ($19 million USD) from the European Innovation Council (EIC), marking the largest investment among 68 selected companies out of 969 applications. The funding includes a €2.5 million ($2.72 million USD) grant from the EIC Accelerator and a future equity investment of €15 million ($16.28 million USD) through the EIC Fund. This financial boost will enable Quantum Transistors to scale up its R&D efforts and expand its team. Quantum Transistors aims to make quantum computing more accessible by developing an integrated universal quantum processor on a single chip. Their approach [...]