Quantum computing firm Quantagonia has secured €4.3m in seed funding led by Tensor Ventures announced by Press Release. The funds will be used to develop and expand sales of its Hybrid Quantum Platform, a B2B SaaS product that combines classical and quantum computing. The platform aims to address the limitations of traditional computers in handling large decision-making models and escalating process control demands. Quantagonia’s platform can execute existing program code on classical and quantum computer architectures, paving the way for AI-based solutions. The company was founded by Dirk Zechiel, Prof. Dr Sabina Jeschke, Prof. Dr Sebastian Pokutta, and Philipp Hannemann.
Quantagonia’s unique product, the “Hybrid Quantum Platform”, is a B2B SaaS that can utilise existing computer programs while combining the benefits of both classical and quantum computing. The company’s goal is to extend the benefits of its Hybrid Quantum Platform to a broad market spectrum.
As corporations face larger decision-making models and increasing demands in their process control, traditional computers are reaching their limits. Current computer architectures struggle with optimisation algorithms, simulation processes, and the implementation of Artificial Intelligence (AI). Quantum computing, an emerging technology, offers a potential solution to these issues by performing tasks much faster or even making solutions possible for the first time.
However, the challenge lies in the incompatibility of existing program codes and applications with new quantum computers. This requires a redefinition of algorithms and programs. Quantagonia’s Hybrid Quantum Platform aims to facilitate the execution of existing program code on both classical and quantum computer architectures, paving the way for innovative and predominantly AI-based solutions.
The Importance of Becoming ‘Quantum Ready’
Dirk Zechiel, CEO and co-founder of Quantagonia emphasises the importance for Germany and Europe to become ‘quantum ready’. He warns against repeating past mistakes of missing breakthroughs and failing to seize innovations, as happened with the introduction of AI. Companies need to act now to benefit from the advantages that quantum computing will offer in the future.
The transition from basic research to industry in Germany is often too cumbersome. Quantagonia is one of the few European startups facilitating this process, leveraging their research and successful business development expertise.
Quantagonia’s Investment Journey
Following a pre-seed round in December 2021, which included participation from the FTTF (Fraunhofer Technology Transfer Fonds), Finnish Deep-Tech VC Voima Ventures, and a German family office, Quantagonia has increased its investment volume to a total of €4.3 million. This includes the addition of the European Deep Tech VC Tensor Ventures, the Beteiligungs-Managementgesellschaft Hessen, and subsequent investments from existing backers.
Quantagonia’s Hybrid Quantum Platform and Future Plans
Quantagonia’s Hybrid Quantum Platform provides customers access to AI, optimisation, and simulation applications. It integrates seamlessly with leading manufacturers of classical hardware (i.e., CPUs & GPUs) and quantum hardware. Through the readily available HybridSolver, customers can now resolve optimisation problems using quantum computers and classical hardware with proof of optimality.
Quantagonia offers its expertise for conducting use-case analyses and implementing future-oriented solutions even for customers who have not yet adopted active quantum applications. The company is currently working on accelerating its platform’s development and implementation while increasing its market reach.
“It is of great importance for Germany and Europe to take action now and become ‘quantum ready’. We should not allow a repetition of missed breakthroughs and the subsequent failure to seize innovations, as we experienced with the introduction of Artificial Intelligence. Companies need to take immediate action to benefit from the advantages that Quantum Computing will offer in the future,”
Dirk Zechiel, CEO and co-founder of Quantagonia.
“In Germany, the transfer from basic research to industry is generally too cumbersome. Quantagonia stands out as one of the few European startups that facilitates this process, leveraging their expertise in research and successful business development, thereby strengthening our economic and technological location,” says Martin Drdúl from the new lead investor Tensor Ventures.
Quick Summary
Quantagonia, a quantum computing software firm, has raised 4.3 million euros in seed funding to develop further and expand its unique ‘Hybrid Quantum Platform’, which combines the benefits of classical and quantum computing. The platform aims to address the limitations of traditional computers in handling large decision-making models and escalating demands in process control by facilitating the execution of existing program codes on both classical and quantum computer architectures.
- Quantagonia, a quantum computing software firm, has secured 4.3 million euros in funding led by Tensor Ventures.
- The funding will be used for product development and sales expansion of its unique B2B SaaS “Hybrid Quantum Platform”.
- The platform combines the benefits of classical and quantum computing, aiming to extend these benefits to a broad market spectrum.
- Quantum computing can potentially solve issues faced by corporations due to the limitations of traditional computers in handling large decision-making models and escalating process control demands.
- However, existing program codes and applications are incompatible with quantum computers, requiring a redefinition of algorithms and programs.
- Quantagonia’s Hybrid Quantum Platform aims to execute existing program code on both classical and quantum computer architectures, paving the way for innovative, predominantly AI-based solutions.
- Dirk Zechiel, CEO and co-founder of Quantagonia emphasises the importance of becoming ‘quantum ready’ for Germany and Europe.
- Martin Drdúl from Tensor Ventures praises Quantagonia for facilitating the transfer from basic research to industry.
- The company was founded in November 2021 by Dirk Zechiel, Prof. Dr. Sabina Jeschke, Prof. Dr. Sebastian Pokutta, and Philipp Hannemann.
- Quantagonia is currently working on accelerating the development and implementation of its platform while simultaneously increasing its market reach.
