Quantonation portfolio company reaches $1.7B valuation, a 5-fold increase over its Series B, as sovereign funds and global technology firms back the startup’s CompactifAI quantum-inspired compression technology

Paris, France — July 27th, 2026: Quantonation, the leading venture capital fund dedicated to quantum technologies and deep tech, announces that portfolio company Multiverse Computing has raised a $570 million Series C funding round at a $1.7 billion pre-money valuation.

The round is a five-fold increase on the company’s Series B round in 2025 and is expected to bring Multiverse’s total funding to $800 million. Quantonation was an early backer of Multiverse Computing, drawn to the company's application of tensor networks, which is a mathematical framework rooted in quantum physics, to the problem of AI model compression. That thesis is now at the center of a $570M round led by strategic and sovereign investors betting on efficient AI as the industry's next frontier.

"When we backed Multiverse, the idea that quantum-inspired mathematics could reshape how the world runs AI was still a contrarian bet," said Olivier Tonneau, Managing Partner at Quantonation. "Today it's the foundation of one of Europe's fastest-growing AI infrastructure companies. This round is a strong validation of what we look for at Quantonation: deep, differentiated science with a clear path to commercial scale."

At the heart of Multiverse's platform is CompactifAI, a compression technology pioneered by co-founder and Chief Scientific Officer Dr. Román Orús that applies tensor networks to reduce the size of large language models by up to 95% with immaterial accuracy loss. This enables AI to run faster, consumes less energy, and can be deployed on-device, on-premises, or in sovereign data centers.

Since closing its Series B, Multiverse has grown annualized revenue more than 10x, with 96x year-over-year sales growth in Q1 2026. Its models are already deployed across millions of devices, including drones, cameras, satellites, vehicles, and telecom infrastructure, and its customers span manufacturing, finance, energy, aerospace, cybersecurity, defense, and life sciences, including Allianz, Bank of Canada, Bosch, Iberdrola, Indra, PwC, and Telefónica.

The Series C will fund expansion of Multiverse's model library, continued R&D on proprietary compression algorithms, strategic investments in sovereign AI gigafactory infrastructure, and regional expansion into East Asia, Southeast Asia, the Middle East, Canada, and the United States.

The round was co-led by Forgepoint Capital International, BNPP Solar Impulse Venture Fund, and Bullhound Capital, with commitments from Santander Alternative Investments, Tikehau Capital, HP Inc., Orange Ventures, Scania Invest, NAventures, Qatar Development Bank, Zouk Capital, SETT, EIC Fund, the Basque Government's Hazten Scale-Up Fund, and Kutxa Fundazioa.

Quantonation remains a shareholder in Multiverse Computing and continues to support the company as it scales.

About Quantonation

Quantonation is the leading early-stage VC fund dedicated to deep physics and quantum technologies. Fields such as high-performance computation, secure communications, drug design, and ultra-precise sensing are now driven by innovation based on these disruptive technologies. Quantonation supports their transition into commercially available products. Quantonation is headquartered in Paris, France, and New York City, USA, with investments in Europe, North America, and Asia-Pacific.

About Multiverse Computing

Multiverse Computing is the global leader in sovereign and efficient AI. The company's deep expertise in quantum software led to the development of CompactifAI, a revolutionary compressor that reduces computing requirements and unleashes new use cases for AI across industries. Headquartered in Donostia, Spain, with offices in the United States, Canada, and across Europe, Multiverse serves more than 100 global customers, including Iberdrola, Bosch, and the Bank of Canada. For more information, visit multiversecomputing.com.

1f:T32ac,![](/media/images/news/pioniq-three-image-01.jpg) At Quantonation, we invest at the frontier of quantum technologies. Pioniq is one of our portfolio companies, and its story is also a useful illustration of how we like to work: our partner Christophe was in touch with Brigitte Leridon before Pioniq was even incorporated, and stayed close to the founders as they moved the technology out of the lab. We think both the science and that trajectory, from academic material to commercial product in two to three years, are worth sharing more broadly. **Battery fires are more common than you think.** The lithium-ion fire problem is bigger than the record shows, and growing fast. A March 2026 NIST study pieced together eight fragmented datasets and estimated that 198,000 battery fires have occurred in the US since 2011, with consumer fires up about 10% a year and EV fires roughly 45% ([Link](https://fra01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.nist.gov%2Fpublications%2Funderstanding-risk-lithium-ion-battery-fires-multi-source-data-analysis&data=05%7C02%7Crafael.plana%40quantonation.com%7C1d142ca9ff4342cf90b508dee8df3ae9%7C3ef1c3101d754d4886a7b8a93dc47d29%7C0%7C0%7C639204242615366146%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=X3QEgWfT9KuMOm554cX%2F9bYSP1vfLR95VVc66BB5p8A%3D&reserved=0)). Safety failures have become one of the most consequential challenges facing the entire industry as energy storage scales massively across data centers, electric vehicles, aviation, medical devices and consumer electronics. This will be further exacerbated by the AI infrastructure rollout. The root causes of most battery incidents are thermal runaway, dendrite-induced short circuits and flammable liquid electrolytes. These aren't simply marginal engineering flaws. They are structural, chemical-level vulnerabilities that have been baked into lithium-ion technology since its inception. Each new deployment at scale amplifies the risk. In Europe, battery safety, manufacturing resilience and next-generation chemistries have become strategic priorities through initiatives such as Battery 2030+ and Horizon Europe, which identify safer, more sustainable and higher-performing battery technologies as critical to Europe's industrial future. Yet the fundamental safety problem remains unsolved: rather than eliminating the risk, the world has settled for managing it. **Why incremental fixes cannot solve the problem** Lithium-ion cells store energy in a chemical manner that's inherently difficult to contain. They are flammable due to volatile liquid electrolytes and reactive electrode materials, so the safety challenge is structural, and the thermal runaway risk is ever-present. They can violently ignite when overcharged, under mechanical constraint or exposed to elevated temperature. Most people are aware of smoldering consumer devices following near misses with lithium-ion batteries on flights, but less well known are the catastrophic fires in grid-scale storage and data center racks. Sodium-ion chemistry is often promoted as the safer alternative. It can be discharged down to zero volts; it is less prone to dendrite formation and the cathode material tends to release less oxygen. While this technology softens the problem, it still depends on flammable liquid electrolytes and remains susceptible to thermal runaway. Solid-state electrolytes were expected to be the answer, as eliminating the liquid reduces flammability. However, most leading solid-state approaches target metallic lithium anodes, which introduces a new hazard in the form of dendrite growth. This can pierce the electrolyte and cause internal short circuits, so the safety trade-off shifts rather than disappears. Manufacturing compounds the problem because lithium-based materials are reactive and moisture-sensitive. This means they must be processed in expensive dry rooms under restrictive conditions to prevent contamination and process deviations, which are a major source of field failures and safety recalls. The answer isn't a safer version of lithium chemistry, but a different chemistry altogether, where safety is intrinsic rather than an engineered afterthought. This is exactly the kind of deep-tech, physics-first bet we look for at Quantonation. **Enter Pioniq: from fundamental physics to a new battery platform.** ![](/media/images/news/pioniq-three-image-02.jpg) *From left to right, Clément Barraud (COO), Brigitte Leridon (CEO) and Rémi Federicci (CTO)* Pioniq was founded in early 2024 by three physicists. Brigitte Leridon, Rémi Federicci and Clément Barraud dedicated years to fundamental research on quantum materials, which led to a materials breakthrough. The trio discovered a new class of solid-state electrolytes in which charge transport is a quantum-mechanical phenomenon. Pioniq calls them quantum electrolytes, and they are the foundation of what the company describes as the world's first battery built on this principle. **A co-building story** Pioniq is also a case study in what we mean when we talk about co-building at Quantonation. Christophe engaged with Brigitte before the company existed on paper. That early involvement meant Quantonation wasn't just writing a check into a formed company but we were in the room helping think through the spin-out itself: how to structure the company, which markets to prioritize, and how to sequence the transition from academic research to a functioning industrial team. That matters because the gap between a physics result and a product is where most deep-tech ventures stall. Academic breakthroughs routinely take a decade or more to reach commercial relevance, if they get there at all. Pioniq went from a materials discovery to functional battery prototypes, validated technology and first industrial partnerships in roughly two to three years. We don't think that speed happened by accident. We believe this is what happens when capital paired with hands-on, early involvement can do for a team with the right scientific foundation. **What is actually "quantum" about it?** Quantum electrolytes are solid crystalline proton conductors that are derived from the perovskite family and are synthesized from abundant oxide precursors. There's no liquid or metallic lithium, so there's no flammable component of any kind. In a conventional electrolyte, solvated ions migrate through a liquid medium, which is the very mechanism that creates the conditions for leakage, ignition and thermal runaway. Conduction works differently with quantum electrolytes. In these materials, nearly-free protons move through the crystalline lattice by quantum-assisted transport. Water molecules are structurally incorporated into the crystalline material and self-organized into 1-D chains that are prone to proton conduction by quantum-tunneling effects between sites. Recent atomistic and quantum-mechanical modeling results support a picture in which proton conductivity arises from dynamically reconfiguring hydrogen-bond networks, where structural fluctuations lower proton hopping barriers and favor Grotthuss-type transport ([Link](https://fra01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdoi.org%2F10.1039%2Fd4cp04441j&data=05%7C02%7Crafael.plana%40quantonation.com%7C1d142ca9ff4342cf90b508dee8df3ae9%7C3ef1c3101d754d4886a7b8a93dc47d29%7C0%7C0%7C639204242615397980%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=JYUD7T8feWGq8GvDG8anQmx4YWh35Q0w%2B5bhvVAdwyA%3D&reserved=0) / [Link](https://fra01.safelinks.protection.outlook.com/?url=https%3A%2F%2Farxiv.org%2Fabs%2F2606.24239&data=05%7C02%7Crafael.plana%40quantonation.com%7C1d142ca9ff4342cf90b508dee8df3ae9%7C3ef1c3101d754d4886a7b8a93dc47d29%7C0%7C0%7C639204242615422402%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=vTBpTlc4wET8wzIw6baJj8Al%2Bst2%2BzZ3hIPdwCU4LO0%3D&reserved=0)). The charge carrier is a proton moving through a solid oxide framework, so there's no liquid to heat, no vapor to ignite and no runaway reaction to initiate. This also changes the interfacial electrochemistry: in zinc–metal oxide and zinc–air cells, the quantum electrolyte suppresses the parasitic reactions that normally degrade aqueous zinc systems, enabling reversible charge transfer and stable cycling. Safety means little if the battery cannot compete on performance. Pioniq's current prototypes deliver: - Volumetric energy density of 600 Wh/L projected on the first generation of devices, with a short-term roadmap toward 1,200 Wh/L - Estimated lifetime of more than 3,000 cycles - Operating temperatures of -30°C to +80°C - Rapid charging times (1C–10C) **Safer chemistry means simpler manufacturing** Pioniq's quantum electrolytes share strong similarities with ceramic materials that are already produced in mature industrial processes. Both the electrolyte and the electrode materials can be processed under ambient conditions and shaped using conventional manufacturing routes. This means there is no need for dry rooms, inert atmospheres or hazardous precursors in the supply chain. This simplicity compounds: new electrode materials, cell designs and chemistries can be fabricated and tested in days rather than weeks. This allows for rapid iteration and accelerated validation that's less capital-intensive, easier to scale and faster to develop. The approach also aligns with Europe's broader ambition to build a competitive battery industry based on safer chemistries, resilient manufacturing and reduced dependence on critical raw materials. The proof is in the company's trajectory, which we've followed closely from the start. In fewer than two years, a lean scientific team took a laboratory discovery to functional battery prototypes, validated the underlying technology, developed first pre-products and established collaborations with major industrial partners. Simplifying the chemistry simplified the engineering. Pioniq is targeting use cases where safety is non-negotiable, across both defense and civil markets: - SMD-format micro-batteries integrated into electronics and IoT devices operating in constrained environments - Large-format cells for safety-critical deployments: in-rack GPU protection in data centers, autonomous defense systems, aviation and medical devices In these markets a single thermal runaway event can be catastrophic, so intrinsic safety is a requirement, not a nice-to-have. Beyond these safety and manufacturing advantages, the entire architecture is built on abundant, widely available oxide materials, so long-term supply resilience is a built-in property of the platform, not an aspiration. **What's next** Pioniq has transformed a fundamental physics discovery into functional battery prototypes combining competitive energy density, stable cycling and, most importantly, safety that comes from the chemistry itself, not from workarounds layered on top of a hazardous core. Pioniq is now scaling cell formats and partnering with industrial players to develop specific use cases for electronics and BBUs for both defense and civil sectors, and to build industrial ramp-ups. Pioniq exemplifies what we look for at Quantonation: deep physics, capital-efficient execution, and a market where the science is the moat. It's also a template for how we like to invest. We get involved early, sometimes before a company exists on paper, and stay close through the transition from lab to industry. If you're a scientist or founder building at the frontier of quantum technologies, reach out to us. You can follow Pioniq's journey here ([Website](https://fra01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fpioniq-technologies.com%2F&data=05%7C02%7Crafael.plana%40quantonation.com%7C1d142ca9ff4342cf90b508dee8df3ae9%7C3ef1c3101d754d4886a7b8a93dc47d29%7C0%7C0%7C639204242615442456%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=lHvrJDTbhKD6opAlL5Nm5XnZJJcy3WCW%2BZCg2f60W3U%3D&reserved=0) / [LinkedIn](https://fra01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fpioniq-technologies%2Fposts%2F%3FfeedView%3Dall&data=05%7C02%7Crafael.plana%40quantonation.com%7C1d142ca9ff4342cf90b508dee8df3ae9%7C3ef1c3101d754d4886a7b8a93dc47d29%7C0%7C0%7C639204242615461513%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=rRnl%2F2Al3%2BObIwOy4T%2FWCqvpPwMxlskRYI%2FKgK8MKK8%3D&reserved=0)). ![](/media/images/news/pioniq-three-image-03.png) *From concept to a validated battery architecture with a quantum electrolyte at its core, in just 2.5 years of pre-seed development.*20:T3502,

At Quantonation, we invest at the frontier of quantum technologies. Pioniq is one of our portfolio companies, and its story is also a useful illustration of how we like to work: our partner Christophe was in touch with Brigitte Leridon before Pioniq was even incorporated, and stayed close to the founders as they moved the technology out of the lab. We think both the science and that trajectory, from academic material to commercial product in two to three years, are worth sharing more broadly.

Battery fires are more common than you think.

The lithium-ion fire problem is bigger than the record shows, and growing fast. A March 2026 NIST study pieced together eight fragmented datasets and estimated that 198,000 battery fires have occurred in the US since 2011, with consumer fires up about 10% a year and EV fires roughly 45% (Link).

Safety failures have become one of the most consequential challenges facing the entire industry as energy storage scales massively across data centers, electric vehicles, aviation, medical devices and consumer electronics. This will be further exacerbated by the AI infrastructure rollout.

The root causes of most battery incidents are thermal runaway, dendrite-induced short circuits and flammable liquid electrolytes. These aren't simply marginal engineering flaws. They are structural, chemical-level vulnerabilities that have been baked into lithium-ion technology since its inception. Each new deployment at scale amplifies the risk.

In Europe, battery safety, manufacturing resilience and next-generation chemistries have become strategic priorities through initiatives such as Battery 2030+ and Horizon Europe, which identify safer, more sustainable and higher-performing battery technologies as critical to Europe's industrial future. Yet the fundamental safety problem remains unsolved: rather than eliminating the risk, the world has settled for managing it.

Why incremental fixes cannot solve the problem

Lithium-ion cells store energy in a chemical manner that's inherently difficult to contain. They are flammable due to volatile liquid electrolytes and reactive electrode materials, so the safety challenge is structural, and the thermal runaway risk is ever-present. They can violently ignite when overcharged, under mechanical constraint or exposed to elevated temperature.

Most people are aware of smoldering consumer devices following near misses with lithium-ion batteries on flights, but less well known are the catastrophic fires in grid-scale storage and data center racks.

Sodium-ion chemistry is often promoted as the safer alternative. It can be discharged down to zero volts; it is less prone to dendrite formation and the cathode material tends to release less oxygen. While this technology softens the problem, it still depends on flammable liquid electrolytes and remains susceptible to thermal runaway.

Solid-state electrolytes were expected to be the answer, as eliminating the liquid reduces flammability. However, most leading solid-state approaches target metallic lithium anodes, which introduces a new hazard in the form of dendrite growth. This can pierce the electrolyte and cause internal short circuits, so the safety trade-off shifts rather than disappears.

Manufacturing compounds the problem because lithium-based materials are reactive and moisture-sensitive. This means they must be processed in expensive dry rooms under restrictive conditions to prevent contamination and process deviations, which are a major source of field failures and safety recalls.

The answer isn't a safer version of lithium chemistry, but a different chemistry altogether, where safety is intrinsic rather than an engineered afterthought. This is exactly the kind of deep-tech, physics-first bet we look for at Quantonation.

Enter Pioniq: from fundamental physics to a new battery platform.

From left to right, Clément Barraud (COO), Brigitte Leridon (CEO) and Rémi Federicci (CTO)

Pioniq was founded in early 2024 by three physicists. Brigitte Leridon, Rémi Federicci and Clément Barraud dedicated years to fundamental research on quantum materials, which led to a materials breakthrough. The trio discovered a new class of solid-state electrolytes in which charge transport is a quantum-mechanical phenomenon.

Pioniq calls them quantum electrolytes, and they are the foundation of what the company describes as the world's first battery built on this principle.

A co-building story

Pioniq is also a case study in what we mean when we talk about co-building at Quantonation. Christophe engaged with Brigitte before the company existed on paper. That early involvement meant Quantonation wasn't just writing a check into a formed company but we were in the room helping think through the spin-out itself: how to structure the company, which markets to prioritize, and how to sequence the transition from academic research to a functioning industrial team.

That matters because the gap between a physics result and a product is where most deep-tech ventures stall. Academic breakthroughs routinely take a decade or more to reach commercial relevance, if they get there at all. Pioniq went from a materials discovery to functional battery prototypes, validated technology and first industrial partnerships in roughly two to three years. We don't think that speed happened by accident. We believe this is what happens when capital paired with hands-on, early involvement can do for a team with the right scientific foundation.

What is actually "quantum" about it?

Quantum electrolytes are solid crystalline proton conductors that are derived from the perovskite family and are synthesized from abundant oxide precursors. There's no liquid or metallic lithium, so there's no flammable component of any kind.

In a conventional electrolyte, solvated ions migrate through a liquid medium, which is the very mechanism that creates the conditions for leakage, ignition and thermal runaway. Conduction works differently with quantum electrolytes.

In these materials, nearly-free protons move through the crystalline lattice by quantum-assisted transport. Water molecules are structurally incorporated into the crystalline material and self-organized into 1-D chains that are prone to proton conduction by quantum-tunneling effects between sites.

Recent atomistic and quantum-mechanical modeling results support a picture in which proton conductivity arises from dynamically reconfiguring hydrogen-bond networks, where structural fluctuations lower proton hopping barriers and favor Grotthuss-type transport (Link / Link).

The charge carrier is a proton moving through a solid oxide framework, so there's no liquid to heat, no vapor to ignite and no runaway reaction to initiate. This also changes the interfacial electrochemistry: in zinc–metal oxide and zinc–air cells, the quantum electrolyte suppresses the parasitic reactions that normally degrade aqueous zinc systems, enabling reversible charge transfer and stable cycling.

Safety means little if the battery cannot compete on performance. Pioniq's current prototypes deliver:

Volumetric energy density of 600 Wh/L projected on the first generation of devices, with a short-term roadmap toward 1,200 Wh/L
Estimated lifetime of more than 3,000 cycles
Operating temperatures of -30°C to +80°C
Rapid charging times (1C–10C)

Safer chemistry means simpler manufacturing

Pioniq's quantum electrolytes share strong similarities with ceramic materials that are already produced in mature industrial processes. Both the electrolyte and the electrode materials can be processed under ambient conditions and shaped using conventional manufacturing routes. This means there is no need for dry rooms, inert atmospheres or hazardous precursors in the supply chain.

This simplicity compounds: new electrode materials, cell designs and chemistries can be fabricated and tested in days rather than weeks. This allows for rapid iteration and accelerated validation that's less capital-intensive, easier to scale and faster to develop.

The approach also aligns with Europe's broader ambition to build a competitive battery industry based on safer chemistries, resilient manufacturing and reduced dependence on critical raw materials.

The proof is in the company's trajectory, which we've followed closely from the start. In fewer than two years, a lean scientific team took a laboratory discovery to functional battery prototypes, validated the underlying technology, developed first pre-products and established collaborations with major industrial partners. Simplifying the chemistry simplified the engineering.

Pioniq is targeting use cases where safety is non-negotiable, across both defense and civil markets:

SMD-format micro-batteries integrated into electronics and IoT devices operating in constrained environments
Large-format cells for safety-critical deployments: in-rack GPU protection in data centers, autonomous defense systems, aviation and medical devices

In these markets a single thermal runaway event can be catastrophic, so intrinsic safety is a requirement, not a nice-to-have. Beyond these safety and manufacturing advantages, the entire architecture is built on abundant, widely available oxide materials, so long-term supply resilience is a built-in property of the platform, not an aspiration.

What's next

Pioniq has transformed a fundamental physics discovery into functional battery prototypes combining competitive energy density, stable cycling and, most importantly, safety that comes from the chemistry itself, not from workarounds layered on top of a hazardous core.

Pioniq is now scaling cell formats and partnering with industrial players to develop specific use cases for electronics and BBUs for both defense and civil sectors, and to build industrial ramp-ups.

Pioniq exemplifies what we look for at Quantonation: deep physics, capital-efficient execution, and a market where the science is the moat. It's also a template for how we like to invest. We get involved early, sometimes before a company exists on paper, and stay close through the transition from lab to industry. If you're a scientist or founder building at the frontier of quantum technologies, reach out to us.

You can follow Pioniq's journey here (Website / LinkedIn).

From concept to a validated battery architecture with a quantum electrolyte at its core, in just 2.5 years of pre-seed development.

21:T133e,New York and Paris, June 11, 2026 — Quantonation, the world’s leading venture firm for quantum and physics technologies, today announced the appointment of Magnus Bengtsson and Elizabeth Ruetsch as Venture Partners, strengthening the firm’s ability to support portfolio companies as they scale from scientific breakthroughs into global businesses. The appointments form part of Quantonation’s broader effort to expand its operating platform and provide founders with access to experienced industry leaders across commercialization, manufacturing, strategic partnerships, and global market expansion. Earlier this year, Quantonation closed its oversubscribed €220 million second fund, making it the largest dedicated quantum investment firm globally by assets under management. The global buildout of AI infrastructure is creating significant/unprecedented opportunities for quantum, photonics, advanced semiconductors, and other deep-tech companies. As demand accelerates and technologies move from laboratory breakthroughs to industrial development, founders increasingly face challenges that extend beyond technology development. Scaling production, building commercial organizations, navigating global supply chains, securing strategic customers, forging industry partnerships, and expanding internationally require expertise that is often difficult for early-stage companies to access. “Building transformative technology is only part of the journey,” said Christophe Jurczak, Managing Partner at Quantonation. “The next challenge is turning scientific leadership into industrial and commercial leadership. Magnus and Elizabeth bring decades of experience helping technology companies scale globally, and their expertise will be invaluable to founders across our portfolio.” Bengtsson joins Quantonation with nearly three decades’ experience in the photonics and laser industries. Most recently, he was Chief Commercial Officer of Coherent Corp., a key supplier of optical networking, semiconductor and photonic technologies underpinning the global AI infrastructure buildout. He led a global sales and service organization of around 1,300 professionals generating $6 billion in annual revenue. Prior to that, he led Coherent’s industrial laser division, returning multiple business units to profitability while overseeing operations spanning the US and Europe. “Many of Quantonation’s portfolio companies are developing technologies that have the potential to reshape entire industries,” said Bengtsson. “I’m excited to help founders navigate the challenges of commercialization, customer adoption, and organizational scaling so they can maximize that impact.” Ruetsch joins Quantonation with over 30 years of experience in wireless communications, aerospace and defense, automotive, and semiconductor markets during her time at Hewlett Packard, Agilent Technologies and Keysight Technologies. Most recently, she was the General Manager of Keysight’s Quantum Solutions Team. Keysight conducts business with over 40,000 customers worldwide including most Fortune 1000 companies across wireless communications, aerospace and defense, automotive, and semiconductor markets. Prior to that, she led global sales for Keysight’s EDA team with team members located in over 40 countries. “One of the most exciting aspects of deep-tech investing today is seeing groundbreaking science move into real-world deployment,” said Ruetsch. “Quantonation has built the world’s leading portfolio in quantum and physics-based technologies, and I look forward to helping founders accelerate that transition from laboratory innovation to global impact.” Bengtsson and Ruetsch will work closely with companies across Quantonation’s existing funds, providing strategic guidance, industry introductions, commercial mentorship, and operational support. They will also contribute to the firm’s growing network of global industry leaders supporting the next generation of quantum and deep-tech scale-ups. Since its founding, Quantonation has backed pioneering companies across quantum computing, communications, and sensing, photonics, advanced materials, and enabling deep technologies. As the portfolio continues to mature, the firm is expanding its capabilities to help founders navigate the increasingly complex path from breakthrough science to global commercialization. **About Quantonation** Quantonation is the leading early-stage VC fund dedicated to deep physics and quantum technologies. Fields such as high-performance computation, secure communications, drug design, and ultra-precise sensing are now driven by innovation based on these disruptive technologies. Quantonation supports their transition into commercially available products. Quantonation is headquartered in Paris, France, and New York City, USA, with investments in Europe, North America, and Asia-Pacific.22:T13a0,

New York and Paris, June 11, 2026 — Quantonation, the world’s leading venture firm for quantum and physics technologies, today announced the appointment of Magnus Bengtsson and Elizabeth Ruetsch as Venture Partners, strengthening the firm’s ability to support portfolio companies as they scale from scientific breakthroughs into global businesses.

The appointments form part of Quantonation’s broader effort to expand its operating platform and provide founders with access to experienced industry leaders across commercialization, manufacturing, strategic partnerships, and global market expansion. Earlier this year, Quantonation closed its oversubscribed €220 million second fund, making it the largest dedicated quantum investment firm globally by assets under management.

The global buildout of AI infrastructure is creating significant/unprecedented opportunities for quantum, photonics, advanced semiconductors, and other deep-tech companies. As demand accelerates and technologies move from laboratory breakthroughs to industrial development, founders increasingly face challenges that extend beyond technology development.

Scaling production, building commercial organizations, navigating global supply chains, securing strategic customers, forging industry partnerships, and expanding internationally require expertise that is often difficult for early-stage companies to access.

“Building transformative technology is only part of the journey,” said Christophe Jurczak, Managing Partner at Quantonation. “The next challenge is turning scientific leadership into industrial and commercial leadership. Magnus and Elizabeth bring decades of experience helping technology companies scale globally, and their expertise will be invaluable to founders across our portfolio.”

Bengtsson joins Quantonation with nearly three decades’ experience in the photonics and laser industries. Most recently, he was Chief Commercial Officer of Coherent Corp., a key supplier of optical networking, semiconductor and photonic technologies underpinning the global AI infrastructure buildout. He led a global sales and service organization of around 1,300 professionals generating $6 billion in annual revenue. Prior to that, he led Coherent’s industrial laser division, returning multiple business units to profitability while overseeing operations spanning the US and Europe.

“Many of Quantonation’s portfolio companies are developing technologies that have the potential to reshape entire industries,” said Bengtsson. “I’m excited to help founders navigate the challenges of commercialization, customer adoption, and organizational scaling so they can maximize that impact.”

Ruetsch joins Quantonation with over 30 years of experience in wireless communications, aerospace and defense, automotive, and semiconductor markets during her time at Hewlett Packard, Agilent Technologies and Keysight Technologies.

Most recently, she was the General Manager of Keysight’s Quantum Solutions Team. Keysight conducts business with over 40,000 customers worldwide including most Fortune 1000 companies across wireless communications, aerospace and defense, automotive, and semiconductor markets. Prior to that, she led global sales for Keysight’s EDA team with team members located in over 40 countries.

“One of the most exciting aspects of deep-tech investing today is seeing groundbreaking science move into real-world deployment,” said Ruetsch. “Quantonation has built the world’s leading portfolio in quantum and physics-based technologies, and I look forward to helping founders accelerate that transition from laboratory innovation to global impact.”

Bengtsson and Ruetsch will work closely with companies across Quantonation’s existing funds, providing strategic guidance, industry introductions, commercial mentorship, and operational support. They will also contribute to the firm’s growing network of global industry leaders supporting the next generation of quantum and deep-tech scale-ups.

Since its founding, Quantonation has backed pioneering companies across quantum computing, communications, and sensing, photonics, advanced materials, and enabling deep technologies. As the portfolio continues to mature, the firm is expanding its capabilities to help founders navigate the increasingly complex path from breakthrough science to global commercialization.

About Quantonation

Quantonation is the leading early-stage VC fund dedicated to deep physics and quantum technologies. Fields such as high-performance computation, secure communications, drug design, and ultra-precise sensing are now driven by innovation based on these disruptive technologies. Quantonation supports their transition into commercially available products. Quantonation is headquartered in Paris, France, and New York City, USA, with investments in Europe, North America, and Asia-Pacific.

23:T112f,**Dallas/Paris – June 3, 2026 – Quantonation portfolio company Quobly has announced a €115 million Series A financing to accelerate the industrialisation of its silicon-based quantum computing platform and bring its first commercial product to market by the end of 2026.** The financing is one of the largest quantum computing rounds announced globally and underscores a broader transition across the industry. While the past decade focused on proving quantum computers could work, the next will be defined by the ability to manufacture, scale and deploy them in real-world environments. “The first chapter of quantum computing was about physics. The next chapter is about manufacturing,” said Quantonation Managing Partner Olivier Tonneau. “Quobly recognised that early, and built its strategy around the idea that quantum computers should be produced with the same industrial discipline that transformed the semiconductor industry.” This Series A marks a significant step in Quobly’s roadmap toward industrial-scale quantum computing. Quantonation invested in the startup’s €19 million seed round in 2023, during which the company demonstrated the feasibility of developing silicon qubits within semiconductor manufacturing processes and established a system-level architecture integrating hardware, control electronics and software. The company plans to deploy Alloy Pioneer, the first system in its Alloy product line, through the cloud by the end of 2026. Designed for early adopters in high-performance computing and research environments, the platform will provide access to silicon-based quantum processors developed using established semiconductor manufacturing processes. Future deployments into high-performance computing infrastructures are expected to follow in 2027. The financing will support continued research and development, industrialisation efforts and international commercial expansion. It will also enable Quobly to accelerate the scaling of its silicon quantum processors and deploy its first commercial systems into cloud and HPC environments. Since Quantonation’s initial investment, one of the key attractions of Quobly has been its conviction that quantum computing can leverage the same industrial foundations that transformed the semiconductor industry. Quobly’s approach is based on FD-SOI technology manufactured on 300 mm wafers, allowing the company to build quantum processors using mature semiconductor fabrication processes. This strategy aims to address some of the industry’s most significant challenges around scalability, yield and reproducibility. The company has established strategic partnerships with industrial leaders including STMicroelectronics, Air Liquide, Soitec and Orano, bringing expertise in semiconductor manufacturing, materials engineering, cryogenics and industrial process control. By prioritising manufacturability from the outset, Quobly is pursuing a path that aligns quantum computing development with the realities of industrial deployment. For Quantonation, the round highlights growing confidence in Europe’s ability to build globally competitive quantum computing companies. “One of the central questions facing the industry is how quantum computing moves from laboratory demonstrations to industrial products,” Tonneau added. “Quobly’s strategy has always been to build on the foundations of the semiconductor industry rather than reinvent them. This financing is an important validation of that vision and provides the resources needed to accelerate the company’s path toward commercial deployment.” As demand for next-generation computing infrastructure continues to grow, Quobly’s progress reflects a broader evolution within the quantum sector: from proving that quantum computers can work to proving they can be built, deployed and scaled. **About Quantonation** Quantonation is one of the world’s leading venture capital funds dedicated to quantum computing and quantum technologies. Since its founding in 2018, the firm has deployed over $350 million in assets under management, investing in more than 38 quantum deep-tech startups across 10 countries spanning the US, Europe, and Asia. With a portfolio deliberately designed to catalyze a quantum industry of global scale, Quantonation has now selected Yaqumo as one of its portfolio companies.24:T11a4,

Dallas/Paris – June 3, 2026 – Quantonation portfolio company Quobly has announced a €115 million Series A financing to accelerate the industrialisation of its silicon-based quantum computing platform and bring its first commercial product to market by the end of 2026.

The financing is one of the largest quantum computing rounds announced globally and underscores a broader transition across the industry. While the past decade focused on proving quantum computers could work, the next will be defined by the ability to manufacture, scale and deploy them in real-world environments.

“The first chapter of quantum computing was about physics. The next chapter is about manufacturing,” said Quantonation Managing Partner Olivier Tonneau. “Quobly recognised that early, and built its strategy around the idea that quantum computers should be produced with the same industrial discipline that transformed the semiconductor industry.”

This Series A marks a significant step in Quobly’s roadmap toward industrial-scale quantum computing. Quantonation invested in the startup’s €19 million seed round in 2023, during which the company demonstrated the feasibility of developing silicon qubits within semiconductor manufacturing processes and established a system-level architecture integrating hardware, control electronics and software.

The company plans to deploy Alloy Pioneer, the first system in its Alloy product line, through the cloud by the end of 2026. Designed for early adopters in high-performance computing and research environments, the platform will provide access to silicon-based quantum processors developed using established semiconductor manufacturing processes.

Future deployments into high-performance computing infrastructures are expected to follow in 2027.

The financing will support continued research and development, industrialisation efforts and international commercial expansion. It will also enable Quobly to accelerate the scaling of its silicon quantum processors and deploy its first commercial systems into cloud and HPC environments.

Since Quantonation’s initial investment, one of the key attractions of Quobly has been its conviction that quantum computing can leverage the same industrial foundations that transformed the semiconductor industry.

Quobly’s approach is based on FD-SOI technology manufactured on 300 mm wafers, allowing the company to build quantum processors using mature semiconductor fabrication processes. This strategy aims to address some of the industry’s most significant challenges around scalability, yield and reproducibility.

The company has established strategic partnerships with industrial leaders including STMicroelectronics, Air Liquide, Soitec and Orano, bringing expertise in semiconductor manufacturing, materials engineering, cryogenics and industrial process control.

By prioritising manufacturability from the outset, Quobly is pursuing a path that aligns quantum computing development with the realities of industrial deployment.

For Quantonation, the round highlights growing confidence in Europe’s ability to build globally competitive quantum computing companies.

“One of the central questions facing the industry is how quantum computing moves from laboratory demonstrations to industrial products,” Tonneau added. “Quobly’s strategy has always been to build on the foundations of the semiconductor industry rather than reinvent them. This financing is an important validation of that vision and provides the resources needed to accelerate the company’s path toward commercial deployment.”

As demand for next-generation computing infrastructure continues to grow, Quobly’s progress reflects a broader evolution within the quantum sector: from proving that quantum computers can work to proving they can be built, deployed and scaled.

About Quantonation Quantonation is one of the world’s leading venture capital funds dedicated to quantum computing and quantum technologies. Since its founding in 2018, the firm has deployed over $350 million in assets under management, investing in more than 38 quantum deep-tech startups across 10 countries spanning the US, Europe, and Asia. With a portfolio deliberately designed to catalyze a quantum industry of global scale, Quantonation has now selected Yaqumo as one of its portfolio companies.

25:T10c8,**TOKYO, JAPAN – [April, 9 , 2026]** – Yaqumo Inc. (Headquarters: Chiyoda-ku, Tokyo; CEO: Kazuhiro Nakashoji), a startup developing scalable neutral-atom quantum computers, announced today that it has raised a Seed Extension Round from Quantonation II FPCI (“Quantonation”), the world’s largest venture capital fund dedicated to quantum technologies. This milestone marks Quantonation’s first-ever investment in a Japanese company. With this funding, Yaqumo will accelerate its core R&D in neutral-atom quantum hardware, drive the commercialization of its technology, expand its team of world-class scientists and engineers, and forge strategic partnerships with enterprises and research institutions globally — solidifying its position as a key player in the quantum ecosystem. **Validating Japan’s Quantum Potential on the Global Stage** Quantonation’s decision to select Yaqumo as its first Japanese investment — following its extensive exploration of quantum startups worldwide — demonstrates that Yaqumo’s technological capabilities and potential are recognized at a world-class level. As the social implementation of quantum technology accelerates globally, Yaqumo is driving the development of a scalable, Japan-born quantum computer to contribute to the advancement of the global industry. **Overcoming Technical Bottlenecks with Cold Atom Technology** Yaqumo focuses on developing scalable quantum computers utilizing the cold atom (neutral atom) approach. Through hardware-software co-design, the company’s innovative architecture drives fast clock rates, making quantum error correction more effective and ultimately realizing practical fault-tolerant quantum computing. **Comment from** **Kazuhiro Nakashoji, CEO of Yaqumo:** ![](/media/images/news/quantonation-selects-yaqumo-image-01.jpg) “We are incredibly honored to be selected as the first Japanese investment by Quantonation, a top-tier global investor that has explored and funded quantum technology companies worldwide. We view this not only as a strong validation of Yaqumo’s technology and potential but also as proof that Japan’s quantum industry is commanding global attention. With this funding, we will further accelerate our technology development and business expansion to contribute to the advancement of quantum technology globally.” **Comment form Olivier Tonneau, Partner at Quantonation:** ![](/media/images/news/quantonation-selects-yaqumo-image-02.jpg) “Yaqumo’s team and vision are highly compelling from the perspective of making quantum technology practical. Having invested in quantum startups across the US, Europe, and beyond, Yaqumo stands out as one of the most promising quantum computing hardware companies, which is why we are proud to make them our first investment in Japan. We have strong confidence in Japan’s quantum science research foundation and Yaqumo’s business potential, and we are fully committed to supporting their growth.” **Investment Summary** - **Instrument:** J-KISS Convertible Equity (Series 1) - **Investor:** Quantonation II FPCI **About Yaqumo Inc.** - **Company Name:** Yaqumo Inc. - **Location:** Yusen Building 1F, 2-3-2 Marunouchi, Chiyoda-ku, Tokyo 100-0005, Japan - **Representative:** Kazuhiro Nakashoji, CEO - **Established:** April 1, 2025 - **Business:** Development of scalable quantum computers using cold atom technology. **About Quantonation** Quantonation is one of the world’s leading venture capital funds dedicated to quantum computing and quantum technologies. Since its founding in 2018, the firm has deployed over $350 million in assets under management, investing in more than 38 quantum deep-tech startups across 10 countries spanning the US, Europe, and Asia. With a portfolio deliberately designed to catalyze a quantum industry of global scale, Quantonation has now selected Yaqumo as one of its portfolio companies. **About J-KISS** J-KISS (Keep It Simple Security) is a streamlined convertible equity instrument designed specifically for the Japanese startup ecosystem. It allows startups and investors to raise funds quickly and flexibly without determining an initial valuation, as the investment automatically converts into equity during the next priced funding round.26:T1278,

TOKYO, JAPAN – [April, 9 , 2026] – Yaqumo Inc. (Headquarters: Chiyoda-ku, Tokyo; CEO: Kazuhiro Nakashoji), a startup developing scalable neutral-atom quantum computers, announced today that it has raised a Seed Extension Round from Quantonation II FPCI (“Quantonation”), the world’s largest venture capital fund dedicated to quantum technologies. This milestone marks Quantonation’s first-ever investment in a Japanese company.

With this funding, Yaqumo will accelerate its core R&D in neutral-atom quantum hardware, drive the commercialization of its technology, expand its team of world-class scientists and engineers, and forge strategic partnerships with enterprises and research institutions globally — solidifying its position as a key player in the quantum ecosystem.

Validating Japan’s Quantum Potential on the Global Stage

Quantonation’s decision to select Yaqumo as its first Japanese investment — following its extensive exploration of quantum startups worldwide — demonstrates that Yaqumo’s technological capabilities and potential are recognized at a world-class level. As the social implementation of quantum technology accelerates globally, Yaqumo is driving the development of a scalable, Japan-born quantum computer to contribute to the advancement of the global industry.

Overcoming Technical Bottlenecks with Cold Atom Technology

Yaqumo focuses on developing scalable quantum computers utilizing the cold atom (neutral atom) approach. Through hardware-software co-design, the company’s innovative architecture drives fast clock rates, making quantum error correction more effective and ultimately realizing practical fault-tolerant quantum computing.

Comment from Kazuhiro Nakashoji, CEO of Yaqumo:

“We are incredibly honored to be selected as the first Japanese investment by Quantonation, a top-tier global investor that has explored and funded quantum technology companies worldwide. We view this not only as a strong validation of Yaqumo’s technology and potential but also as proof that Japan’s quantum industry is commanding global attention. With this funding, we will further accelerate our technology development and business expansion to contribute to the advancement of quantum technology globally.”

Comment form Olivier Tonneau, Partner at Quantonation:

“Yaqumo’s team and vision are highly compelling from the perspective of making quantum technology practical. Having invested in quantum startups across the US, Europe, and beyond, Yaqumo stands out as one of the most promising quantum computing hardware companies, which is why we are proud to make them our first investment in Japan. We have strong confidence in Japan’s quantum science research foundation and Yaqumo’s business potential, and we are fully committed to supporting their growth.”

Investment Summary

Instrument: J-KISS Convertible Equity (Series 1)
Investor: Quantonation II FPCI

About Yaqumo Inc.

Company Name: Yaqumo Inc.
Location: Yusen Building 1F, 2-3-2 Marunouchi, Chiyoda-ku, Tokyo 100-0005, Japan
Representative: Kazuhiro Nakashoji, CEO
Established: April 1, 2025
Business: Development of scalable quantum computers using cold atom technology.

About Quantonation

Quantonation is one of the world’s leading venture capital funds dedicated to quantum computing and quantum technologies. Since its founding in 2018, the firm has deployed over $350 million in assets under management, investing in more than 38 quantum deep-tech startups across 10 countries spanning the US, Europe, and Asia.

With a portfolio deliberately designed to catalyze a quantum industry of global scale, Quantonation has now selected Yaqumo as one of its portfolio companies.

About J-KISS J-KISS (Keep It Simple Security) is a streamlined convertible equity instrument designed specifically for the Japanese startup ecosystem. It allows startups and investors to raise funds quickly and flexibly without determining an initial valuation, as the investment automatically converts into equity during the next priced funding round.

27:T12d7,We are excited to release our [latest white paper](/media/documents/news/quantonation-sensing-report-2026.pdf), dedicated to quantum sensing, a field often described as the most mature branch of the second quantum revolution, yet one whose reality is far more fragmented, nuanced, and strategically rich than the headline suggests. The report is the result of months of research and in-depth conversations with the CEOs, scientists, and industrial players building the future of the sector. This work has also been more than a market study for us: it actively shaped our thesis and our due diligence on recent investments. Our participation in SBQuantum's $4M seed round, announced last week alongside Quantacet and Investissement Québec, is a direct illustration. SBQuantum's diamond magnetometers sit at the heart of the defense, navigation, and public safety use cases we explore in depth in the report. **Executive Summary** Quantum sensors include diverse technologies leveraging quantum states to achieve performance beyond conventional sensors: - Superconducting devices have offered record sensitivities since the 1960s, but they have faced field deployment constraints. - Atomic and ion devices have recently achieved record performance. They have been undergoing an important miniaturization effort in the 21st century. - Solid-state spin defects – NV centers in diamond and beyond – provide unique access to nanoscale and multimodal sensing. - Photonics is undergoing renewal with integrated platforms, optomechanics and quantum states of light. Each technology has distinct sensitivity, robustness or form factor advantages. The key to quantum sensing success is therefore a careful match between technology and applications. Some industries will be more impacted: - Quantum sensors will offer access to new measurement regimes in body imaging (including human-machine interface) and molecular biosensing. - Quantum sensing in industry focuses on high-value use cases like chip inspection and non-destructive testing. Mastering integration into manufacturing workflows is essential for adoption. - For navigation, they provide alternatives or complements to GNSS through magnetic, gravitational, inertial and timing measurements, with military and spatial as important drivers. Resilience, portability and sensitivity are equally required, along with new accurate maps. - In the energy domain, quantum gravimetry and magnetic sensing can improve subsurface characterization and infrastructure monitoring. But robustness and form factor are critical. - Quantum detectors bring sensitivity and stealth advantages in security and defense, with an important willingness to pay. - Many quantum sensors originate from fundamental matter, particle and astrophysics experiments, which continue to push towards extreme sensitivity. The quantum sensing commercial ecosystem has remained relatively small compared to computing and communication: despite their technological readiness, translation of laboratory performance into field operation and market adoption have been the main roadblocks so far. Yet the military and sovereignty stakes explain important public funding. Quantum sensing is therefore a fragmented field, where matching technologies specificities to market needs requires expertise for significant value creation. Informed surveys will also be key to spot the next major sensing paradigms stemming from material science, qubits development or quantum states manipulation. --- **A glimpse of what you will find in the full report:** Quantum sensing is not one market, it is a constellation of markets. Every application, from ultralow-field MRI to NV centers for chip inspection, from atomic gravimeters to optical clocks, answers a radically different set of specifications. As Jérôme Michon (InSpek) puts it in our pages: *"Everyone needs sensors, but the devil is in the details."* Beyond product-market fit, a second challenge runs throughout the report: **adoption**. Sadegh Raeisi (Foqus) points to the language gap with healthcare practitioners. Ronald Walsworth (EuQlid) reflects on the almost cultural timing with which each industry decides to switch to a new technology. Quantum sensing is doing today the hard work that quantum computing, and AI, will have to do tomorrow: moving from a "playing-around tool" to large-scale economic deployment. Inside, we unpack the four main technology families, their promises and bottlenecks, before diving application by application: healthcare, industry, navigation, energy, defense, fundamental science. Throughout, we hear directly from the entrepreneurs shaping the field. Thanks Malo Le Gall for leading this nice project at Quantonation ! Full report [here](/media/documents/news/quantonation-sensing-report-2026.pdf). ---12c:I[94825,["/_next/static/immutable/chunks/2corl6wyj4669.js","/_next/static/immutable/chunks/01igyxtz4opja.js","/_next/static/immutable/chunks/42_-p7i1zvvg-.js","/_next/static/immutable/chunks/342cj1vjnekh1.js"],"default"] 12d:I[97367,["/_next/static/immutable/chunks/2corl6wyj4669.js","/_next/static/immutable/chunks/01igyxtz4opja.js","/_next/static/immutable/chunks/42_-p7i1zvvg-.js"],"OutletBoundary"] 12f:I[27201,["/_next/static/immutable/chunks/2corl6wyj4669.js","/_next/static/immutable/chunks/01igyxtz4opja.js","/_next/static/immutable/chunks/42_-p7i1zvvg-.js"],"IconMark"] 28:T13c4,

We are excited to release our latest white paper, dedicated to quantum sensing, a field often described as the most mature branch of the second quantum revolution, yet one whose reality is far more fragmented, nuanced, and strategically rich than the headline suggests. The report is the result of months of research and in-depth conversations with the CEOs, scientists, and industrial players building the future of the sector.

This work has also been more than a market study for us: it actively shaped our thesis and our due diligence on recent investments. Our participation in SBQuantum's $4M seed round, announced last week alongside Quantacet and Investissement Québec, is a direct illustration. SBQuantum's diamond magnetometers sit at the heart of the defense, navigation, and public safety use cases we explore in depth in the report.

Executive Summary

Quantum sensors include diverse technologies leveraging quantum states to achieve performance beyond conventional sensors:

Superconducting devices have offered record sensitivities since the 1960s, but they have faced field deployment constraints.
Atomic and ion devices have recently achieved record performance. They have been undergoing an important miniaturization effort in the 21st century.
Solid-state spin defects – NV centers in diamond and beyond – provide unique access to nanoscale and multimodal sensing.
Photonics is undergoing renewal with integrated platforms, optomechanics and quantum states of light.

Each technology has distinct sensitivity, robustness or form factor advantages. The key to quantum sensing success is therefore a careful match between technology and applications.

Some industries will be more impacted:

Quantum sensors will offer access to new measurement regimes in body imaging (including human-machine interface) and molecular biosensing.
Quantum sensing in industry focuses on high-value use cases like chip inspection and non-destructive testing. Mastering integration into manufacturing workflows is essential for adoption.
For navigation, they provide alternatives or complements to GNSS through magnetic, gravitational, inertial and timing measurements, with military and spatial as important drivers. Resilience, portability and sensitivity are equally required, along with new accurate maps.
In the energy domain, quantum gravimetry and magnetic sensing can improve subsurface characterization and infrastructure monitoring. But robustness and form factor are critical.
Quantum detectors bring sensitivity and stealth advantages in security and defense, with an important willingness to pay.
Many quantum sensors originate from fundamental matter, particle and astrophysics experiments, which continue to push towards extreme sensitivity.

The quantum sensing commercial ecosystem has remained relatively small compared to computing and communication: despite their technological readiness, translation of laboratory performance into field operation and market adoption have been the main roadblocks so far. Yet the military and sovereignty stakes explain important public funding.

Quantum sensing is therefore a fragmented field, where matching technologies specificities to market needs requires expertise for significant value creation. Informed surveys will also be key to spot the next major sensing paradigms stemming from material science, qubits development or quantum states manipulation.

A glimpse of what you will find in the full report:

Quantum sensing is not one market, it is a constellation of markets. Every application, from ultralow-field MRI to NV centers for chip inspection, from atomic gravimeters to optical clocks, answers a radically different set of specifications. As Jérôme Michon (InSpek) puts it in our pages: "Everyone needs sensors, but the devil is in the details."

Beyond product-market fit, a second challenge runs throughout the report: adoption. Sadegh Raeisi (Foqus) points to the language gap with healthcare practitioners. Ronald Walsworth (EuQlid) reflects on the almost cultural timing with which each industry decides to switch to a new technology. Quantum sensing is doing today the hard work that quantum computing, and AI, will have to do tomorrow: moving from a "playing-around tool" to large-scale economic deployment.

Inside, we unpack the four main technology families, their promises and bottlenecks, before diving application by application: healthcare, industry, navigation, energy, defense, fundamental science. Throughout, we hear directly from the entrepreneurs shaping the field.

Thanks Malo Le Gall for leading this nice project at Quantonation ! Full report here.

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