Jul 10, 2024 | Posted by Abdul-Rahman Oladimeji
German quantum computing startup Planqc which makes neural atom-based quantum computers, has secured €50 million ($54m) in equity financing in a Series A investment, led by the European Family Office Catron Holding and the DeepTech & Climate Fonds (DTCF).
Alexander Glätzle, CEO and co-founder of Planqc, said: “This latest investment round is a strong endorsement of our technology as a leading platform for quantum applications. The substantial backing places us in a perfect position to take on global competitors with our ‘Made in Germany’ quantum computers, targeting an emerging market valued at billions of euros.”
Dr. Torsten Löffler, investment director at DTCF said: “We are thrilled to invest in a startup that not only leads in high-impact technology but also enables further breakthroughs in most pressing global computational challenges across various industries by offering access to the technology in the form of a quantum cloud computing service. Planqc’s impressive track record in securing contracts – in particular the DLR Tender – and public grants within just 18 months of operations underscores the company’s role as a frontrunner in the quantum computing sector both in Europe and globally.”
Prof. Immanuel Bloch, director at the Max-Planck-Institute for Quantum Optics (MPQ), added: “At MPQ, we have a strong tradition of supporting spin-offs from our institute and translating fundamental science to industry. Planqc is the latest example and is based on our expertise in trapping, cooling, and manipulating cold atoms and molecules. In the future, we look forward to extending this collaboration.”
