Munich-based startup Planqc has secured €50 million in Series A funding, marking a significant milestone for Europe's quantum computing sector. The company, specializing in digital atom-based quantum computing, is poised to compete on a global scale with its innovative technology.

Funding Details

The funding round was led by the European Family Office CATRON Holding and the DeepTech & Climate Fonds (DTCF). Bayern Kapital, the Max-Planck Foundation, UVC, Speedinvest, and private investors also participated. Additionally, the company received a non-dilutive grant from Germany's Federal Ministry of Education and Research (BMBF).

Cutting-Edge Technology

planqc's technology, built on research from the Max-Planck-Institute for Quantum Optics (MPQ), uses individual atoms in light crystals as qubits. This approach has allowed the company to scale to 1,200 qubits, with plans to reach 10,000 or even 100,000 soon.

Strategic Plans

The funding will be used to establish a quantum computing cloud service and develop software for applications in chemistry, healthcare, climate-tech, automotive, and finance. planqc is already working on climate simulations and electric vehicle battery efficiency using quantum machine learning.

Notable Achievements

planqc has secured contracts to deploy a 1,000-qubit quantum computer at the Leibniz Supercomputing Centre and develop a quantum computer for the German Aerospace Center (DLR). These achievements highlight the company's rapid progress and industry recognition.

Industry and Government Support

Dr. Torsten Löffler from DTCF praised Planqc’s potential to address global computational challenges. Dr. Anna Christmann, a government official, commended the company as an example of innovative research translating into forward-looking businesses, strengthening Germany's competitiveness.

Academic Collaboration

Prof. Immanuel Bloch, director at MPQ, emphasized the institute's role in supporting spin-offs like planqc, showcasing the successful collaboration between academia and industry in advancing quantum technologies.

planqc's successful funding round and technological progress position it as a leader in European quantum computing. With strong financial backing and innovative technology, the company is well-equipped to tackle complex computational challenges across various industries, potentially revolutionizing fields from drug discovery to climate research.