German quantum computing software start-up Quantagonia announced that it has increased its seed funding round to €4.3 million ($4.67 million), with Prague, Czech Republic-based Tensor Ventures as the lead investor.
Quantagonia, which offers a B2B SaaS “Hybrid Quantum Platform,” said the funds will be applied to further product development and and to expand sales
Back in early 2022, Quantagonia formally announced its pre-seed funding round, which had been completed in late 2021, and included FTTF (Fraunhofer Technologie-Transfer Fonds), the Finnish deep-tech VC Voima Ventures and a German family office.
“In Germany, the transfer from basic research to industry is still too cumbersome. Quantagonia is one of the few European start-ups that makes this possible with expertise from research and successful company development, thereby strengthening our business and technology location,” says Martin Drdúl from the new lead investor Tensor Ventures.
The investment management company Hessen also participated in the seed investment.
Quantagonia released its HybridSolver mathematical optimization solver a little over a year ago.
Dan O’Shea has covered telecommunications and related topics including semiconductors, sensors, retail systems, digital payments and quantum computing/technology for over 25 years.