Dutch quantum computing company QphoX has secured €8 million ($8.7m) in a funding round, making it the largest quantum company in the Netherlands.
Following a €6.5m ($7m) grant from the European Innovation Council (EIC) Accelerator in 2022, the company engaged in a funding round led by QDNL Participations and with additional investments from the EIC Fund, Quantonation, Speedinvest, High-Tech Gründerfonds, and Delft Enterprises.
"We are very grateful to be entrusted by our investors to build the technology that will enable real quantum computing applications,” said QphoX co-founder and CEO Simon Groeblacher. “At the moment, we are the only company with the transduction hardware at a performance level that will allow quantum systems to connect through optical quantum channels. We look forward to working with our partners to scale quantum computers beyond proof-of-concept systems.”
The funds will be used to bring QphoX’s first products to market and help the company to further commercialize quantum computing.
QphoX develops hardware that enables quantum computers to communicate via an optical network device the company has called a quantum modem, technology that the company says will form “the backbone of the future quantum Internet.”
The quantum transduction devices built by QphoX connect quantum processors via long-range, low-loss quantum channels and allow small, high-fidelity quantum processors to be connected into a large, parallel quantum processing unit for more powerful distributed computation.
