Quantum technology startup QphoX has raised €2 million to bring its Quantum Modem to market in a move that will have a big impact on what can be achieved with this super-fast computing technology. The funding round was led by Quantonation, Speedinvest, and High-Tech Gründerfonds, with participation from TU Delft.
QphoX has developed the Quantum Modem, a breakthrough device that will allow quantum computers to talk to one another by unlocking the potential of the ‘quantum internet. Quantum computing is widely regarded as the next big step forward in computing, allowing for complex problems to be solved much faster than standard computers can achieve. This has the potential to transform what’s possible in fields like cybersecurity, A.I., and big-data-based research.
The first company to take quantum transduction beyond university labs, QphoX will develop the Quantum Modem it conceived at Delft University of Technology (TU Delft) into a commercial product, combining the fields of quantum computing and quantum communication. By networking separate processors together, the modem will let quantum computers scale beyond 10’s or 100’s of qubits, enabling them to process complex tasks inaccessible to traditional computers.
“Thanks to this investment we will be able to create and provide the missing link between quantum computers and the quantum internet, and further help scaling quantum processors to realize their computing power,” said Simon Gröblacher, CEO and co-founder of QphoX.
QphoX will now further enhance the performance of the Quantum Modem and develop its first standalone product to begin working with customers and partners. With the continuous progress of both quantum processors and networks, QphoX’s quantum modem technology is poised to be the catalyst that accelerates interaction between the two technologies, enabling new applications in networked quantum information processing, such as accessing quantum resources remotely and certified quantum computing.
Rick Hao, Principal with Speedinvest’s Deep Tech team, added: “ We want to invest in seed-stage deep technology startups that shape the future and QphoX is well-positioned to make a major impact. Over the next couple of years, there will be rapid progress in quantum computers. Quantum Modem, the product developed by QphoX, enables the development of quantum computers that demonstrate quantum advantage by combining separate quantum processors. And we are proud to support Simon, Fred, and Rob on this journey.
“The founding team at QphoX has shown a unique ability to leverage quantum optics, fiber optics communications, nanoscale device manufacturing, and superconducting microwave circuits to transfer the coherence that’s at the heart of quantum devices at a distance while preserving it. We’re very happy to make our first investment in the blooming Dutch quantum ecosystem, and contribute once again to the emergence of the European Quantum industry” said Christophe Jurczak, partner at Quantonation.
TU Delft participates in the round via Delft Enterprises. Investment Director Ronald Gelderblom: “Quantum technology is one of the main focus areas of our university. TU Delft not only conducts ground-breaking research into quantum computing and quantum internet but wants to make an impact for a better society as well. That is why we support the development of spin-off companies that aim to realize the promise of quantum technology. We are proud of the QphoX founding team and we are happy that this investment enables them to realize their ambitions.”
Olaf Joeressen, Senior Investment Manager at High-Tech Gründerfonds, said: “The Qphox team is on a journey to make quantum computing scalable and provide real-world impact soon based on their ground-breaking research. In our view, the quantum-transducer from Qphox has the potential to become an indispensable component of the quantum computing architecture of the future.”