The race for practical quantum computing just got a $67.1M boost, as German startup eleQtron GmbH announced its Series A funding round. The company, which develops and operates quantum computers based on trapped ions and its proprietary Magnetic Gradient Induced Coupling (MAGIC) technology, secured capital from a syndicate of investors including Schwarz Digits, European Innovation Council Fund, and EarlyBird.
eleQtron focuses on optimizing its intermediate-scale quantum processors for near-term industrial applications, with a strategy to offer its quantum computer performance via a subscription model. Additional investors in the round included Ankaa Ventures, Precitec, NRW.BANK, and Hamburgische Investitions- und Förderbank (IFB Hamburg).
