kiutra, 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 NATO and EU initiatives as a supply chain risk, which kiutra’s technology is intended to address.
kiutra, which has systems deployed globally, is now expanding into modular platforms tailored for complex quantum chips and full-stack quantum computers. The investment marks a transition from an R&D-driven startup to an industrial scale-up, with the goal of building sustainable cryogenic infrastructure for quantum technologies.
Read the full announcement here. For additional context on the co-leading investor, review our article on the new 55 North fund here.
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