Qblox secures $26 Million in series A funding to accelerate quantum control stack development

EventNewsPortfolio20 June 2024

Delft, The Netherlands, June 20th 2024 – Qblox, a leading innovator in quantum technology, announces the successful closure of its Series A funding round, securing $26 million in investment led by Quantonation and Invest-NL Deep Tech fund and with participation of QDNL participations and the European Innovation Council (EIC).

This funding milestone signifies a strategic step for Qblox as it continues to drive advancements in quantum control stack development. By integrating extremely scalable hardware and software solutions, Qblox is enabling quantum computer builders around the world to reach industrial applications.

“This Series A funding marks a significant milestone in Qblox’s journey to drive quantum innovation forward, ” said Niels Bultink, co-founder and CEO of Qblox. “It has always been clear to us that quantum technology should be seen as a value chain where we work with dedication on one crucial layer of the stack, currently serving over one hundred customers. Almost uniquely in the industry, this has allowed us to grow the company exponentially fueled by revenue rather than investments. With our first equity investment we secure our long-term growth, positioning Qblox as the enabler for industrial-scale quantum systems. “

“We have closely followed Qblox’s impressive journey over the past four years. Their achievements have been remarkable, and we are thrilled to invest in Qblox alongside Invest NL to help accelerate their transition to the industrial market, commented Oliver Tonneau, Partner of Quantonation. “Their expertise in control stack development, and their unique modular and scalable technology make them a standout player in the field. We look forward to seeing the impact of this investment on their continued progress.”

“Investing in quantum technology is crucial for pioneering complex technologies that provide solutions to societal challenges. We believe that Qblox is well-positioned to shape the future of quantum computing,” stated Yvonne Greeuw, Investment Manager at Invest-NL. “We are impressed by the team and proven track record of innovation and growth, demonstrating their ability to make a significant impact in the industry. We at Invest-NL are excited to be a part of their journey.”

The Series A funding will enable Qblox to expand its research and development efforts, accelerate product development, and further strengthen its market position. Additionally, the company will focus on expanding its team to meet growing demand and drive future growth.

About Qblox: 

Qblox is a leading provider of scalable and modular quantum control stacks. Qblox operates at the frontier of the quantum revolution in supporting academic and industrial labs worldwide with quantum control electronics. The Qblox control stack, known as the Cluster, combines key technologies for qubit control and readout with a modular solution supporting a wide variety of customers and qubit platforms.

The Qblox team is 95+ members strong and continues to innovate hardware and software that is qubit-type-agnostic, sophisticated, and scalable to support operations on thousands of qubits. For more information, visit https://www.qblox.com/

About Quantonation

Quantonation is the first early-stage VC fund dedicated to deep physics and quantum technologies. Field such as high-performance computation, secure communications, drug design or ultra-precise sensing are now driven by innovation based on these disruptive technologies. With +€150m of Assets Under Management and an international team of both scientists and investors Quantonation aims at supporting the transition from physics lab to commercially available products. Quantonation is headquartered in Paris, France, and in Boston, USA, with investments in Europe, North America and Asia-Pacific.

For more information and news:  www.quantonation.com

About Invest-NL

Invest-NL is the Dutch National Promotional Institute with a principal focus on providing financial solutions to businesses and projects that require a long-term investment horizon and have a positive impact on society. Our goal is to support the development of pioneering technologies, green initiatives, and social enterprises that contribute to the Netherlands’ leadership in sustainability and innovation. These include transitioning to a carbon-neutral and circular economy, ensuring affordable and accessible healthcare, and deep tech, for which we launched the specialised Deep Tech Fund (DTF).

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