German quantum software company, Kipu Quantum, has raised €10.5 million in seed funding led by HV Capital and DeepTech & Climate Fonds. The funds will be used to develop hardware-specific quantum algorithms. The company, founded by Enrique Solano, Tobias Grab, and Daniel Volz, has already implemented its quantum software at major industrial customers like BASF. Kipu Quantum’s algorithms enable complex processes to run on existing quantum hardware, potentially speeding up the time to market for quantum computers. The company recently set a new performance world record for protein folding, surpassing the previous record held by IBM.
Kipu Quantum Secures 10.5 Million EUR in Seed Funding
Kipu Quantum, a Berlin and Karlsruhe-based quantum software company, has successfully raised 10.5 million EUR in seed funding. The company, founded by Enrique Solano, Tobias Grab, and Daniel Volz, specializes in the development of compressed algorithms for high-performing quantum computers. These algorithms are designed to expedite complex processes on existing quantum hardware, significantly reducing the time to market for quantum computers. The funding will be used to expand Kipu Quantum’s team of leading quantum scientists, researchers, and engineers.
Investment Led by HV Capital and DeepTech & Climate Fonds
The seed funding round was spearheaded by HV Capital and DeepTech & Climate Fonds (DTCF), with substantial contributions from all existing shareholders, including Entrada Ventures, Quantonation, and First Moment Ventures. New investors Onsight Ventures and QAI Ventures also participated in the round. The investment will be used to further the development of Kipu Quantum’s hardware-specific quantum algorithms and to continue building its team of leading quantum scientists, researchers, and engineers.
Quantum Computing: The Future of Industry
Quantum computers have the potential to revolutionize the world by solving computational tasks that are currently intractable. However, quantum processors need to improve significantly to reach general usefulness. Kipu Quantum’s compressed algorithms allow the use of today’s quantum processors across multiple industries without waiting for larger quantum computers. The company develops algorithms tailored towards specific, contemporary hardware, as well as the given specs of an application.
Kipu Quantum’s Record-Breaking Performance
The Kipu Quantum team recently set a new performance world record for protein folding, surpassing the previous record held by IBM. The team’s approach has allowed them to accelerate the timeline towards solving real-world business problems with quantum computing and achieving significant improvements over competing algorithms in areas such as the simulation of chemical and biological processes, mechanical systems, and complex optimization problems.
Major Commercial Customers and New Investors
Kipu Quantum has already implemented its quantum software at major industrial customers such as BASF. Hermann Hauser, a renowned entrepreneur and venture capitalist, joined as a new investor via Onsight Ventures. Maxi Pethö-Schramm of HV Capital praised the founding trio of Kipu Quantum for their world-leading research, deep understanding of customer problems, and experience in the commercialization of future technologies.
About Kipu Quantum GmbH
Kipu Quantum operates at the intersection of quantum computer hardware and application software layers, developing disruptive application- and hardware-specific quantum algorithms for a wide range of industries. The company’s technology has the potential to solve industry-relevant problems and is compatible with any leading quantum hardware. Kipu Quantum is currently testing its technology with customers in the pharmaceutical, chemical, logistics, and financial industries.
“Kipu’s massively compressed algorithms allow the use of today’s quantum processors across multiple industries without waiting for larger quantum computers. We develop algorithms tailored towards specific, contemporary hardware, as well as the given specs of an application,”
Enrique Solano, founder of Kipu Quantum and the scientific lead of a team of 16 quantum computing PhDs.
“Our team has spent almost 25 years of research to accelerate the timeline towards solving real-world business problems with quantum computing and achieving drastic improvements over competing algorithms in areas like the simulation of chemical and biological processes, mechanical systems, or complex optimization problems,” – Daniel Volz, founder and CEO of Kipu Quantum.
“I am excited about the innovative technology and the talented team behind Kipu Quantum, and I am very happy to be part of this exciting journey and to accompany them on their way.” – Hermann Hauser, renowned entrepreneur and venture capitalist.
“The founding trio of Kipu Quantum combines world- leading research, a deep understanding of customer problems, and experience in the commercialization of future technologies. This enables Kipu Quantum to create a quantum software product with new business value.” – Maxi Pethö-Schramm of HV Capital.
“We are investing in the transformative potential of quantum computing technology to advance areas where traditional computing is reaching its limits. Kipu Quantum’s approach is in line with our vision of a future where quantum computing accelerates breakthroughs in areas such as drug discovery,” – Tobias Faupel, co-Managing Director of the DeepTech & Climate Fonds.
Summary
German quantum software company, Kipu Quantum, has raised 10.5 million EUR in seed funding to further develop its hardware-specific quantum algorithms, which are designed to operate high-performing quantum computers and significantly reduce the time to market for these devices. The company’s algorithms, already implemented by major industrial customers, are set to revolutionise industries such as pharmaceuticals, chemicals, logistics, and finance by enabling them to run highly complex processes on existing quantum hardware.
- German quantum software company, Kipu Quantum, has raised 10.5 million EUR in seed funding. The round was led by HV Capital and DeepTech & Climate Fonds, with participation from Entrada Ventures, Quantonation, First Moment Ventures, Onsight Ventures, and QAI Ventures.
- Kipu Quantum, founded by Enrique Solano, Tobias Grab, and Daniel Volz, develops compressed algorithms for high-performing quantum computers. These algorithms are used in various industries including pharmaceutical, chemical, logistics, and finance to run complex processes on existing quantum hardware.
- The funding will be used to expand the team of quantum scientists, researchers, and engineers, with the aim of reducing the time to industrially-useful quantum computers by several years.
- Kipu Quantum’s algorithms allow the use of today’s quantum processors across multiple industries without waiting for larger quantum computers. The team recently set a new performance world record for protein folding, surpassing the previous record by IBM.
- Major industrial customers such as BASF have already implemented Kipu Quantum’s software. The company’s technology has the potential to solve industry-relevant problems and is compatible with any leading quantum hardware.
- Renowned entrepreneur and venture capitalist Hermann Hauser joined as a new investor via Onsight Ventures.