We reported in May on an initiative from Dutch-based Quantum Delta NL called Lightspeed to support Dutch based quantum startup with raising capital from potential investors in Europe and the United States. They have now added on to this effort by creating their own micro-fund called “Lightspeed Fund 1” which will provide pre-seed funding to startups of up to 50,000 euros ($59K USD) in the form of a SAFE note (Simple Agreement for Future Equity) to allow early stage quantum startups to get started. Quantum Delta NL intends to make 5 to 15 awards in fiscal year 2021/2022 and 35 to 40 awards over the total period. There are currently seven quantum startups based in the Netherlands and Quantum Delta NL would like to increase this number to 100 by 2027. One of the first recipient of one of these awards is QuantWare as part of the €1.15 Million ($1.36M USD) pre-seed round they just announced. Additional information about this new micro-fund can be found in a new release posted on Quanta Delta NL’s website here.

July 16, 2021