Quantagonia, a German firm specialising in quantum computing software, has secured €4.3 million in funding to help Europe become “quantum ready.” As corporations face increasingly complex decision-making models and growing demands in process control, traditional computers are reaching their limits in optimisation algorithms, simulation processes, and AI implementation.
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The solution
Quantum computing offers a potential solution by performing tasks faster and enabling new possibilities. However, existing program codes and applications are incompatible with quantum computers, necessitating the redefinition of algorithms and programs.
Quantagonia’s seed fundraising, led by Tensor Ventures, has boosted its total funding to €4.3 million. Three European deep tech VCs, a state holding, and a family office also provided financial backing.
“It is of great importance for Germany and Europe to take action now and become ‘quantum ready’. We should not allow a repetition of missed breakthroughs and the subsequent failure to seize innovations, as we experienced with the introduction of Artificial Intelligence.
Dirk Zechiel, CEO and co-founder of Quantagonia
Hybrid Quantum Platform
Quantagonia’s B2B SaaS product, the “Hybrid Quantum Platform,” is unique in its ability to utilize existing computer programs while combining classical and quantum computing advantages. The startup aims to extend the benefits of its platform across various markets. The funding will be used for further product development and sales expansion.
Quantagonia envisions a computing revolution through its Hybrid Quantum Platform, which facilitates executing existing program code on both classical and quantum architectures, enabling the employment of innovative AI-based solutions.
Martin Drdúl from Tensor Ventures praises Quantagonia for facilitating the transfer from basic research to industry, strengthening Germany’s economic and technological position.
Following the pre-seed round in December 2021, Quantagonia’s investment volume now totals €4.3 million with participation from the FTTF, Voima Ventures, Tensor Ventures, Beteiligungs-Managementgesellschaft Hessen, and existing backers.
The Hybrid Quantum Platform grants customers access to AI, optimization, and simulation applications, integrating seamlessly with leading manufacturers of classical and quantum hardware. The readily available HybridSolver allows customers to solve optimization problems using both quantum computers and classical hardware with proof of optimality. Quantagonia also offers expertise in conducting use-case analyses and implementing future-oriented solutions.
Founded in November 2021, Quantagonia comprises 15 experts in computer science, physics, mathematics, and business development. The team is focused on accelerating platform development, implementation, and expanding market reach to lead technological change.
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