Copenhagen-based quantum software startup Kvantify has secured €10 million in a seed funding round led by Danish venture capital firm Dreamcraft. The round also saw participation from Lundbeckfonden BioCapital, 2degrees, Redstone VC, 2xN, and EIFO.
Founded in 2022 by Hans Henrik Knudsen, Nikolaj Zinner, and Allan Grønlund, Kvantify focuses on leveraging quantum computing to solve complex problems in biotechnology and medicine. The new funds will be used to develop quantum algorithms for chemical simulations, expanding their applicability across various industries.
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Strengthening Market Position
CEO Hans Henrik Knudsen stated, “This funding marks a significant milestone for us. It validates our vision of using quantum computing to revolutionize the life sciences industry and provides the resources needed to accelerate our development and growth.”
Expert Team and Strategic Partnerships
Kvantify’s team includes over 65 experts in quantum computing, software engineering, mathematics, physics, cheminformatics, and computational chemistry. The company aims to make quantum computing widely accessible and valuable for businesses worldwide.
Investor Confidence
Dreamcraft, known for investing in tech-driven companies, sees significant potential in Kvantify’s mission. Carsten Salling, General Partner at Dreamcraft, commented, “We’re thrilled to support Kvantify as they advance quantum chemical computational drug discovery. This investment represents a truly exciting market opportunity.”
Lundbeckfonden BioCapital, making its first investment outside the therapeutics space, highlighted the transformative potential of quantum computing in drug development. Jacob Falck Hansen, Partner at Lundbeckfonden BioCapital, said, “Quantum computing can deliver unprecedented accuracy and reduce risks in early drug development stages, enabling faster market entry.”
With this significant investment, the danish startup is poised to enhance its quantum computing solutions and expand its impact on the global life sciences industry.
