Munich-based quantum computing startup planqc has successfully raised €50 million in a Series A funding round. The investment was led by European Family Office CATRON Holding and the DeepTech & Climate Fonds (DTCF), with additional support from Bayern Kapital, the Max-Planck Foundation, private investors, and existing backers UVC and Speedinvest. The round also includes a non-dilutive grant from Germany’s Federal Ministry of Education and Research (BMBF).
Dr. Torsten Löffler, Investment Director at DTCF, expressed enthusiasm about the investment: “We are thrilled to invest in a startup that leads in high-impact technology, enabling breakthroughs in various industries by offering access to technology through a quantum cloud computing service.”
Monika Steger, Managing Director of Bayern Kapital, highlighted the potential of quantum computers: “Quantum computers can facilitate the discovery, research, and development of future technologies like new medicines, sustainable battery technology, and climate simulations.”
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Innovating with Atomic-Scale Precision
Founded in 2022 by Alexander Glätzle, Sebastian Blatt, Johannes Zeiher, and Lukas Reichsöllner, planqc is developing quantum computers that store information in individual atoms. These atoms, serving as qubits, are controlled by precisely timed laser pulses, which planqc claims is the fastest path to scaling to thousands of qubits essential for industry-relevant quantum advantage.
Dr. Blatt, co-founder, explained, “Unlike most companies, including Big Tech, we use individual atoms confined in crystals of light as qubits. This approach accelerates scaling the number of qubits and improving their quality, key prerequisites for delivering fault-tolerant quantum computers.”
Utilizing the Investment
The recent funding will support the establishment of a quantum computing cloud service and the development of quantum software targeting applications in sectors such as chemistry, healthcare, climate-tech, automotive, and finance. Planqc is already applying quantum machine learning to projects like climate simulations and improving electric vehicle battery efficiency.
CEO and co-founder Alexander Glätzle emphasized the significance of the investment: “This latest funding round endorses our technology as a leading platform for quantum applications. It places us in a strong position to compete globally with our ‘Made in Germany’ quantum computers in a market valued at billions of euros.”
Recent Achievements and Future Goals
The German government has tasked planqc with deploying a 1,000-qubit quantum computer at the Leibniz Supercomputing Centre. The company has also secured a European tender to develop a quantum computer for the German Aerospace Center (DLR).
Planqc, in collaboration with the Max Planck Institute of Quantum Optics (MPQ), has advanced neutral atom qubits to 1,200, a crucial step toward fault-tolerant quantum computers. Scaling to 10,000 or 100,000 qubits will enable the resolution of previously unsolvable challenges in materials science, pharmaceutical discovery, climate research, and cryptography.
Hermann Hauser from APEX Amadeus Technology Fund, one of planqc’s seed investors, remarked, “Neutral atoms are on the fast track to achieving fault-tolerant quantum computing. Planqc’s rapid progress is impressive, and securing over €50 million in contracts within 18 months and achieving Europe’s first 1,200-atomic qubit array are remarkable milestones.”
With this substantial investment, planqc is set to advance its quantum computing capabilities and solidify its leadership in the global quantum technology sector.
