Planqc builds quantum computers and stores quantum information in individual atoms. The technology is based of the Munich startup on the award-winning research of the Max Planck Institute of Quantum Optics (MPQ). Planqc aims to make rapid progress in the development of industrial-scale quantum computers and, in collaboration with the MPQ, has already demonstrated scaling the number of neutral atoms used as qubits to 1,200. Further scaling to 10,000 or even 100,000 qubits is expected in the coming years.
Sebastian Blatt, CTO of Planqc, explains:
"Unlike most other companies, including Big Tech, we use individual atoms—trapped in crystals of light—as qubits. This approach enables us to rapidly scale the number of qubits and improve their quality, which is essential for us to be the first to deliver error-resistant quantum computers."
50 million euros for the development of quantum software
Planqc has now raised €50 million in its Series A financing round. The investment is led by the European family office Catron Holding and the DeepTech & Climate Fund (DTCF). Additional financial support comes from Bayern Kapital, the Max Planck Foundation, and other private investors. Existing investors UVC Partners and Speedinvest are also participating in the round. There is also a grant from the German Federal Ministry of Education and Research (BMBF).
Alexander Glätzle, CEO and co-founder of Planqc, says.
"This latest round of investment is an important validation of our technology as a leading platform for quantum applications. The extensive support enables us to successfully position our quantum computers 'Made in Germany' in the competition and tap into an emerging market with a volume of several billion euros."
The startup plans to use the new funding primarily to build a quantum computing cloud service and develop quantum software for applications in industries such as chemistry, pharmaceuticals, climate technology, automotive, and finance. Planqc is already using quantum machine learning to work on climate simulations and more efficient batteries for electric vehicles.
Planqc is a “pioneer in the quantum computing sector, both in Europe and worldwide”
Torsten Löffler, Investment Director at DTCF, commented on the investment:
"We are excited to invest in a startup that is not only a leader in highly effective technology, but also enables further breakthroughs in the most pressing global computing challenges across multiple industries by providing access to this technology in the form of a quantum cloud computing service. Planqc's impressive success in securing contracts – particularly the DLR tender – and public funding within just 18 months of its founding, underlines the company's role as a pioneer in the quantum computing sector, both in Europe and worldwide."
And Immanuel Bloch, Director at Max Planck Institute of Quantum Optics, adds:
"At MPQ, we have a strong tradition of supporting spin-offs from our institute and transferring basic research to industry. Planqc is the latest example and is based on our expertise in trapping, cooling, and manipulating cold atoms and molecules. We look forward to expanding this collaboration in the future."
Also Monika Steger, Managing Director of Bayern Kapital, is enthusiastic about Planqc’s technology:
"Quantum computers can provide invaluable added value by facilitating or even enabling the discovery, research, and development of other future technologies. Examples include new medicines, sustainable battery technology, and climate simulations. Planqc's promising technological approach, coupled with its existing technological maturity, convinced us."
