HQS Quantum Simulations brings in 12 million euros in series A funding
• Quantonation VC fund, specialising in quantum computing, is leading a financing round. Capital investors UVC Partners, btov Industrial Technologies and High-Tech Gründerfonds (HTGF), who already hold a stake in the company, are once again investing.
• As part of the Q-Exa consortium, HQS Quantum Simulations supplies software for the first quantum computer manufactured in Germany.
• With the new injection of capital, HQS Quantum Simulations is looking to enhance its HQS Quantum Assisted Design cloud platform while expanding its open-source library, called Active Space Finder.
HQS Quantum Simulations, Europe’s leading startup for complex quantum simulations, has concluded a series-A financing round and secured more than 12 million euros together with new research funding. As a new investor, the French quantum VC fund Quantonation is leading the financing round; with already-invested VC funds, UVC Partners, btov Industrial Technologies, and HTGF are underlining their commitment with new investment.
For some years now, the market for quantum technology has seen rapid growth, posting record highs last year. In Germany, HQS Quantum Simulations has been driving forward the key technology as part of the Q-Exa consortium. The aim of this interdisciplinary project is to install in the Leibniz Supercomputing Centre the first quantum computer manufactured in Germany, by the end of this year. Like most supercomputing centres, the High Performance Computing Centre at the Bavarian Academy of Sciences and Humanities uses significant parts of its computing power to solve problems relating to quantum mechanics, while sourcing the necessary software from HQS Quantum Simulations.
Thanks to the capital obtained from the new financing round, HQS Quantum Simulations will seek to further strengthen its position as the leading European software provider in the field of quantum simulation. The startup, created by four quantum physicists, has been developing efficient quantum algorithms for material, chemical and pharmaceutical research since 2017. This new financing round will enable HQS Quantum Simulations to continue development of its Quantum Assisted Design cloud platform, and to expand the Active Space Finder open-source library.
With a view to enhancing its Quantum Assisted Design cloud platform, HQS Quantum Simulations is in the process of developing a unique piece of software which is optimised for use on current quantum computers. The hope is that in due course it can also be used by research groups and companies that do not have access to their own quantum hardware, to carry out the same quantum simulations as performed by HQS Quantum Simulations with its software in the Leibniz Supercomputing Centre. With its Active Space Finder open-source library, HQS Quantum Simulations is the only company worldwide currently working on a solution to the active space problem. Only by solving this problem will we see practical use of quantum computers for material simulation.
“The new financing round provides us with the resources we need to continue growing our team, strengthen our base, and find even more efficient ways of meeting the demands of our customers,” says Michael Marthaler, CEO at HQS Quantum Simulations. “Our investors’ reaffirmed confidence in us and the fact that Quantonation, the best regarded VC fund in the industry, is now on board, shows that we’re on the right path.”
The huge potential involved, alongside new technological advances, continues to attract capital. “Quantum Simulation is on the verge of delivering substantial commercial value in industrial applications and HQS Quantum Simulations is best positioned to deliver on that promise,” says Yann Fiebig, Principal at HTGF. Benjamin Erhart from UVC Partners agrees: “We believe HQS Quantum Simulations will become the leading European player in quantum simulations and bring large benefits to our society.”
Quantonation, the first VC fund worldwide to specialise in quantum technology, is leading the financing round. “Quantonation is committed to the development of quantum technologies and to their transition into commercially viable products” says Christophe Jurczak of Quantonation. “High performance computing is an exciting market for this, and we believe that HQS Quantum Simulations is developing the right products for chemical and physical simulations on a quantum level – products that will have a tremendous impact on these industries.” btov Industrial Technologies also remains committed to investment. “We are looking forward to further supporting the HQS Quantum Simulations team in its quest to make near term available quantum computers really useful to the material sciences and pharmaceutical communities,” says Christian Reitberger, Partner at btov.
The co-founder and COO of HQS Quantum Simulations, Iris Schwenk, strongly believes that this goal is within reach following the new financing round. “When we started out in 2017, we were just four quantum computing scientists who wanted to build bridges between the academic world and industry,” she recalls. “Today, with more than 30 talented scientists from a range of disciplines, we are the leading quantum startup in Europe. But this is just the start of our journey.”
About HQS Quantum Simulations
HQS Quantum Simulations was formed in 2017 as a spin-off of the Karlsruhe Institute of Technology (KIT), and develops software for the simulation of quantum systems. The startup’s software works on conventional computers, but can be easily transferred to quantum computers. HQS Quantum Simulations uses this approach to pursue its goal of putting companies and scientists in a position to quickly and efficiently switch their simulation workflows over to quantum computers once they are available.
About UVC Partners
UVC Partners is a Munich- and Berlin-based early-stage venture capital firm that invests in European B2B startups in the areas of enterprise software, industrial technologies, and mobility. The fund typically invests between € 0.5m - 10m initially and up to € 30m in total per company. Portfolio companies benefit from the extensive investment and exit experience of the management team as well as from the close cooperation with UnternehmerTUM, Europe’s leading innovation, and business creation center. With over 300 employees and more than 100 industry partners, UnternehmerTUM can draw from many years of experience in establishing young companies. This cooperation enables UVC Partners to offer startups unique access to talent, industry customers, and other financial partners.