Why now is the right time to invest in European quantum computingIn the longer term, solid-state approaches (superconducting qubits, spins, photons) should catch up,” says Christophe Jurczak, founder of Quantonation, the quantum-focused VC fund. Meanwhile Terra Quantum, a Swiss-based quantum computing startup, has celebrated another big hire with high-profile physicist Valerii Vinokur from the Argonne National Laboratory in the US. Markus Pflitsch, cofounder Terra Quantum, says that big shot professors joining startups is a sign that smaller quantum companies are being taken increasingly seriously. “If a lab can do that it shows that small companies can compete in quantum if they have a breakthrough,” says Daniel Carew, principal at IQ Capital. “There is a trend for academics going to startups now, and it is a good sign when the seasoned professionals start joining,” says Pflitsch. Finnish superconducting quantum computer maker IQM, which raised a €39m Series A round in November, has more than doubled its headcount in the last year. Riverlane, a Cambridge-based startup which raised a £14.6m last month, is looking to double its team of 26 this year.
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