Dutch quantum computing firm QphoX has raised €8m to develop the world’s first Quantum Modem, a crucial step towards creating a quantum internet. The funding round, the largest for a quantum company in the Netherlands, was led by QDNL Participations, with participation from the EIC Fund, Quantonation, SpeedInvest, High-Tech Gründerfonds, and Delft Enterprises. QphoX’s technology will allow quantum computers to communicate over an optical network, forming the backbone of the future quantum internet. The funds will be used to accelerate product development and prepare QphoX’s technology for integration into commercial systems.
QphoX Secures €8m Funding for Quantum Modem Technology
Dutch quantum computing company, QphoX, has successfully raised €8m in funding, marking the largest investment in a quantum company in the Netherlands. The funding round was led by QDNL Participations, with participation from the EIC Fund, and existing investors Quantonation, SpeedInvest, High-Tech Gründerfonds, and Delft Enterprises. The funds will be used to bring QphoX’s first products to market, a significant step towards realizing the commercial potential of quantum computing.
QphoX is developing the core hardware required for quantum computers to communicate over an optical network. This technology will enable the scalability of large quantum computing systems within a data center and is expected to form the backbone of the future quantum internet. Since raising €2 million in 2021, QphoX has made significant advances in its technology, including recent developments that bring mature quantum computers within reach.
Quantum Transduction: The Core of QphoX’s Technology
QphoX’s core technology centers on the ability to build devices that enable quantum transduction, where information can be translated between the microwave and optical domains. The company has made a number of breakthroughs in its technology recently. In October 2023, QphoX demonstrated optical-frequency readout of superconducting qubits and published peer-reviewed details of its transducer performance in Nature Nanotechnology.
QphoX co-founder and CEO Simon Groeblacher expressed gratitude to the investors for entrusting the company with the task of building the technology that will enable real quantum computing applications. He stated that QphoX is currently the only company with the transduction hardware at a performance level that will allow quantum systems to connect through optical quantum channels.
Chad Rigetti, Venture Partner at lead investor QDNL Participations, who will also join the company’s advisory board, highlighted the breakthrough capability of quantum transduction and the ability to interconnect modular quantum computers over an optical network. He expressed excitement at backing QphoX in their mission to build a global quantum hardware company.
Christophe Jurczak, partner at Quantonation, praised the QphoX team for their skills at taking outstanding science out of the lab and turning it into practical innovation that will benefit a large part of the nascent quantum industry. Marcin Nowak, Investment Director at European Investment Bank, leading the investment on behalf of the EIC Fund, expressed strong belief in QphoX’s technology forming the backbone and paving the way towards a future quantum internet and accelerating the scaling up of quantum computers.
Based in Delft, the Netherlands, QphoX is developing the world’s first Quantum Modem device, to connect quantum computers across a quantum network. The startup’s technology will form the backbone of the future quantum internet, allowing quantum computers to interface at a distance through room-temperature optical interconnects. The company is backed by investors including QDNL Participations, the European Innovation Council, Quantonation, SpeedInvest, High-Tech Gründerfonds, and Delft Enterprises.
QDNL Participations, backed by Quantum Delta NL, will invest €15 million into early-stage Dutch quantum computing startups in the coming years. The fund provides the bridge between the grant-giving phase of research and the ‘patient capital’ phase of venture investment, helping to transform potentially great technical ideas into investable companies.
The EIC, established under the EU Horizon Europe with a budget of €10bn, is Europe’s program to identify, develop and scale up breakthrough technologies and game-changing innovations. EIC provides funding for individual companies through both grants and / or equity investments from the EIC Fund – the venture arm of the EIC, with AuM of €3.5bn. The EIC Fund is managed by an independent fund manager and advised in investment execution and monitoring by the European Investment Bank.
“We are very grateful to be entrusted by our investors to build the technology that will enable real quantum computing applications. At the moment, we are the only company with the transduction hardware at a performance level that will allow quantum systems to connect through optical quantum channels. We look forward to working with our partners to scale quantum computers beyond proof-of-concept systems,” explains QphoX co-founder and CEO Simon Groeblacher.
Summary
Dutch quantum computing company, QphoX, has raised €8m to develop the world’s first Quantum Modem, a critical step towards scaling quantum computers and establishing a global quantum internet. The company’s technology focuses on quantum transduction, enabling quantum information to be translated between microwave and optical domains, which could form the backbone of the future quantum internet.
- Dutch quantum computing company, QphoX, has raised €8 million in funding to develop the world’s first Quantum Modem device. This technology is a crucial step towards scaling quantum computers and establishing a quantum internet.
- The funding round was led by QDNL Participations, with contributions from the EIC Fund, Quantonation, SpeedInvest, High-Tech Gründerfonds, and Delft Enterprises.
- QphoX’s technology will allow quantum computers to communicate over an optical network, enabling the scalability of large quantum computing systems and forming the backbone of the future quantum internet.
- The company has made significant advances in its technology, including recent developments that bring mature quantum computers within reach. The new funds will be used to accelerate product development and prepare QphoX’s technology for integration into commercial systems.
- QphoX’s core technology focuses on quantum transduction, which allows information to be translated between the microwave and optical domains.
- QphoX co-founder and CEO Simon Groeblacher stated that the company is the only one with the transduction hardware at a performance level that will allow quantum systems to connect through optical quantum channels.
- Chad Rigetti, Venture Partner at QDNL Participations, and Christophe Jurczak, partner at Quantonation, both praised QphoX’s breakthroughs and leadership in the field of quantum transduction.
