The 2020-founded company develops quantum processors based on trapped ions using proprietary MAGIC technology.

German deep-tech start-up Eleqtron has raised €57m in a Series A funding round for further development of its ‘trapped ion’ quantum computers.

The company said the round, led by Schwarz Digits, is one of the largest Series A raises to date worldwide for a quantum company.

The round also featured participation from the European Commission’s European Innovation Council Fund, existing investors such as Earlybird, and new investors including French VC firm Ankaa Ventures, laser equipment specialist Precitec, and German development banks NRW Bank and IFB Innovationsstarter.

The 2020-founded company develops quantum processors based on trapped ions using proprietary ‘magnetic gradient induced coupling’ (MAGIC) technology, and said it employs more than 100 people and is partnering “with leading European research and computing centres to advance the industrial use of quantum computing”.

It plans to use the new capital to build scalable production capacity, expand cloud-based access to its systems and further advance development of its hardware platform.

“Quantum computing is transitioning from a research-driven technology to an industrially usable infrastructure,” said Jan Henrik Leisse, CEO and co-founder of Eleqtron.

“With this funding, we are accelerating that transition and building systems that will solve real-world industrial problems.”

The company said its MAGIC technology enables highly precise control of trapped ions using miniaturised microwave technology, providing a clear path toward scalable quantum computers.

“Digital sovereignty is a top priority for us and our partners. Following our strategic decisions in the areas of cloud and artificial intelligence, the investment in Eleqtron is a logical building block,” said Christian Müller, co-CEO of Schwarz Digits.

“We want to ensure that we remain independent in key technologies and actively shape forward-looking, secure IT infrastructures right here in Germany.”

Eleqtron’s target industries and uses include chemicals, pharmaceuticals and automotive, through materials research; logistics, with route and network optimisations; and finance, addressing risk management and portfolio optimisations.

It claims to be the first German start-up for quantum computing hardware, and has a stated goal of developing a freely programmable and scalable quantum computer.

Eleqtron was co-founded by Prof Christof Wunderlich, Michael Johanning and Leisse, and began as a spin-out from the University of Siegen’s quantum optics department.

Last month, Irish and French quantum computing companies Equal1 and Bull announced a partnership to “advance the next generation of hybrid quantum-classical technologies with European solutions”.

Don’t miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Silicon Republic’s digest of need-to-know sci-tech news.