Finnish technology company Quanscient has secured €5.2 million in funding to bring engineering simulations into the quantum era. The company’s multiphysics simulation platform enables faster and better product development, saving time and costs while accelerating time-to-market for companies building next-generation technologies such as fusion energy, advanced semiconductors, and biomedical devices. Quanscient has rapidly become a global leader in quantum algorithm development, leveraging these algorithms to address the growing demand for advanced solutions in highly complex R&D.
The company is the first in the world to run a Computational Fluid Dynamics simulation with real quantum hardware, setting a new standard in the field. Led by CEO Juha Riippi, Quanscient has built the world’s first Computer Aided Engineering platform that seamlessly integrates cloud-native multiphysics solvers, advanced cloud computing, and future quantum integration. The funding round was led by Nordic early-stage venture capital firm Crowberry Capital, with participation from Speen Holding and Finnish investors Maki.vc and First Fellow.
Revolutionizing Engineering Simulations with Quantum Algorithms
Quanscient, a Finnish technology company, has secured €5.2 million in growth funding to bring engineering simulations into the quantum era. This investment will enable the company to further develop its multiphysics simulation platform, which seamlessly integrates cloud-native algorithms, advanced cloud computing, and future quantum integration.
The platform offers engineers a significant increase in simulation throughput, enabling fully digital R&D processes and addressing complex technology challenges in industries such as fusion energy, advanced semiconductors, biomedical devices, automotive, and aerospace. By providing unlimited user access, Quanscient’s solution fosters smoother collaboration and greater accessibility for large, geographically distributed teams.
The Need for Advanced Simulation Tools
Companies developing transformative technologies require better tools to rapidly test scenarios, optimize designs, and speed up time-to-market. Legacy CAE solutions struggle to support the rapid iteration required in modern development, leading to costly and time-consuming real-world testing. Quanscient’s solution boosts simulation capacity by 100 times, enabling engineers to iterate faster and tackle more complex challenges.
“To stay competitive, companies developing transformative technologies need better tools to rapidly test scenarios, optimize designs, and speed up time-to-market,” says Juha Riippi, co-founder and CEO of Quanscient. “Our solution empowers engineers to tackle more complex problems and iterate faster, leading to superior products and a quicker, lower-risk path to market.”
Quantum Algorithm Development
Quanscient has made significant advancements in quantum algorithm development, becoming the first company in the world to run a Computational Fluid Dynamics (CFD) simulation with real quantum hardware. The company plans to release its first quantum product pilot in early 2025.
Quantum computing delivers unmatched accuracy and speed for CFD simulations, unlocking entirely new simulation capabilities that have never been possible before. Quanscient partners with industry leaders in cloud computing and quantum algorithms, such as AWS, Intel, IBM, and NVidia, as well as many quantum hardware companies like IQM.
The Future of Engineering Simulations
The new growth funding marks a new phase of growth for Quanscient in its international expansion and ambitious mission to bring engineering simulations into the quantum era. With this investment, Quanscient will continue to make breakthroughs in quantum algorithms, revolutionizing simulations by integrating pioneering quantum algorithms within the next few years.
“With our new funding, we’ll continue to make breakthroughs in quantum algorithms,” Riippi explains. “We’re set to revolutionize simulations by integrating our pioneering quantum algorithms within the next few years, transforming the future of engineering and pushing the boundaries of what’s possible.”
Quanscient’s multiphysics simulations have already enabled global companies to solve their most complex engineering challenges faster and more efficiently than ever before. By offering superior multiphysics capabilities, Quanscient speeds up innovation and creates significant value across rapidly growing global industries.
“With Quanscient’s multiphysics simulations, global companies solve their most complex engineering challenges faster and more efficiently than ever before,” says Jenny Ruth Hrafnsdottir, Founding Partner, Crowberry Capital. “The next-generation quantum algorithms mark a game-changing advancement in simulation technology, with Quanscient at the forefront. We’re excited to join them on their path to becoming the leader in quantum simulations.”
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