HQS Quantum Simulations raises €12 million in Series A funding
Karlsruhe — HQS Quantum Simulations raises €12 million in Series A. Quantonation, a VC fund specializing in quantum computing, leads the funding round. The already involved investors UVC Partners, btov Industrial Technologies and High-Tech Gründerfonds (HTGF) invest again.
HQS Quantum Simulations is a spin-off of the Karlsruhe Institute of Technology (KIT) and, as part of the Q‑Exa consortium, provides the software for the first quantum computer manufactured in Germany.
With the new capital, HQS Quantum Simulations intends to strengthen its cloud platform HQS Quantum Assisted Design as well as expand its open source library Active Space Finder.
HQS Quantum Simulations, Europe’s leading startup for complex quantum simulations, closes a Series A funding round. Together with new research funding, HQS Quantum Simulations is thus raising over 12 million euros. French quantum VC fund Quantonation leads the financing round as a new investor. The already participating VC funds UVC Partners, btov Industrial Technologies and HTGF reaffirm their commitment through renewed investments.
The market for quantum technology has been growing rapidly for several years and reached a new record high last year. In Germany, HQS Quantum Simulations is driving the key technology forward as part of the Q‑Exa consortium, among others. The interdisciplinary project aims to install the first German-made quantum computer at the Leibnitz Computing Center before the end of this year. Like most large-scale computing centers, the High Performance Computing Center of the Bavarian Academy of Sciences uses significant portions of its computing power to solve quantum mechanical problems. HQS Quantum Simulations provides the necessary software.
With the capital from the new financing round, HQS Quantum Simulations intends to further strengthen its position as a leading European software provider in the field of quantum simulation. Founded by four quantum physicists, the startup has been developing efficient quantum algorithms for materials, chemical and pharmaceutical research since 2017. The new round of funding will enable HQS Quantum Simulations to further develop its Quantum Assisted Design cloud platform and expand its open-source Active Space Finder library.
For its Quantum Assisted Design cloud platform, HQS Quantum Simulations is developing unique software optimized for use on current quantum computers. In the near future, it will enable research groups and companies without access to their own quantum hardware to perform the same quantum simulations that HQS Quantum Simulations enables with its software at the Leibniz Computing Center. With the open source library Active Space Finder, HQS Quantum Simulations is the only company in the world working on a solution to the so-called Active Space Problem. Only the solution of this problem enables practical use of quantum computers for material simulation.
“The new round of financing gives us the boost we need to further expand our team, strengthen our foundation and serve our customers’ needs even more efficiently. The fact that our investors have reaffirmed their trust in us and that Quantonation, the most renowned VC fund in the industry, has joined us shows that we are on the right track,” says Michael Marthaler, Managing Director of HQS Quantum Simulations.
The enormous potential as well as the recent advances in technology are attracting more and more capital.
“Quantum simulation is on the verge of bringing significant commercial value to industrial applications and we believe HQS Quantum Simulations is best positioned to deliver on this promise,” Yann Fiebig, Principal at HTGF.
Benjamin Erhart of UVC Partners also assumes this: “We believe that HQS Quantum Simulations will become the leading European player in quantum simulation and bring great benefits to our society.”
Quantonation, the world’s first VC fund specializing in quantum technology, leads the financing round.
“We want to advance the development of quantum technologies and their use in commercial products. High performance computing is an exciting market for this and we are confident that HQS Quantum Simulations is developing the right products for quantum-level chemical and physical simulations to make a huge impact in these industries,” Christophe Jurczak of Quantonation.
btov Industrial Technologies remains invested.
“We look forward to helping the HQS team bring available quantum computing to the materials science and pharmaceutical industries,” said Christian Reitberger, partner btov.
Co-founder and COO of HQS Quantum Simulations Iris Schwenk is convinced that this goal is within reach with the new round of funding: “When we started in 2017, we were four scientists who wanted to build a bridge between academia and industry in quantum computing. Today, with more than 30 talented scientists from a wide range of disciplines, we are the leading quantum startup in Europe — and we’re just getting started.”
About HQS Quantum Simulations
HQS Quantum Simulations was founded 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’ goal with this approach is to enable companies and researchers to quickly and efficiently transition their simulation workflow to quantum computing as it becomes available.
About High-Tech Gründerfonds
The seed investor High-Tech Gründerfonds (HTGF) finances technology start-ups with growth potential. With a volume of around EUR 900 million spread across three funds and an international partner network, HTGF has supported more than 650 start-ups since 2005. His team of experienced investment managers and start-up experts supports the young companies with know-how, entrepreneurial spirit and passion. The focus is on high-tech start-ups in the fields of digital tech, industrial tech, life sciences, chemistry and related business areas. More than EUR 3.5 billion in capital has been invested in the HTGF portfolio by external investors in more than 1,800 follow-on financing rounds to date. In addition, the fund has already successfully sold shares in more than 150 companies.
Investors in the public-private partnership include the German Federal Ministry of Economics and Climate Protection, KfW Capital, the Fraunhofer-Gesellschaft and the companies ALTANA, BASF, Bayer, Boehringer Ingelheim, B.Braun, Robert Bosch, BÜFA, CEWE, Deutsche Bank, Deutsche Post DHL, Dräger, 1+1 AG, EVONIK, EWE AG, FOND OF, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.