planqc, a pioneer in digital atom-based quantum computing headquartered in Munich’s Quantum Valley, has successfully raised €50 million ($54.167 million USD) in Series A funding. The investment round, led by CATRON Holding and DeepTech & Climate Fonds (DTCF), along with contributions from Bayern Kapital, Max-Planck Foundation, and other private investors including existing backers UVC and Speedinvest, marks a significant endorsement of planqc’s technological prowess. Additionally, the funding includes a non-dilutive grant from Germany’s Federal Ministry of Education and Research (BMBF), highlighting governmental support for quantum innovation.

Founded in 2022 by experts from the Max-Planck Institute for Quantum Optics (MPQ) and Ludwig-Maximilians-University Munich (LMU), planqc focuses on leveraging individual atoms confined in light crystals as qubits. This approach, designed to enhance scalability and qubit quality, positions planqc at the forefront of developing fault-tolerant quantum computers. The financing will bolster their efforts to establish a quantum computing cloud service and advance quantum software tailored for applications in diverse sectors such as chemistry, healthcare, climate-tech, automotive, and finance.

Notably, planqc has already embarked on pivotal projects including deploying a 1,000-qubit quantum computer at the prestigious Leibniz Supercomputing Centre and securing a contract with the German Aerospace Center (DLR) to develop specialized quantum computing solutions. Their recent achievement of scaling qubits to 1,200 sets a new industry benchmark, paving the way for future breakthroughs in quantum computing capabilities.

For additional details, the original press release from planqc can be accessed here.

July 8, 2024