"The €57m Series A round is one of the largest in the European quantum sector, indicating a serious commitment to hardware-led quantum computing amidst a shift towards software-only AI."
"Schwarz Digits, the technology arm of Schwarz Group, signifies a different funding logic, emphasizing customer-driven investment rather than traditional venture capital."
"eleQtron's MAGIC technology uses Magnetic Gradient Induced Coupling to manipulate trapped-ion qubits, aiming for a scalable manufacturing process unlike competing approaches."
eleQtron, a German trapped-ion quantum-computing scale-up, secured €57m in Series A funding led by Schwarz Digits. This funding is notable for its size and the strategic nature of the investor. Unlike traditional venture capital, Schwarz Digits represents a customer-driven funding approach from a major European industrial group. Founded in 2020, eleQtron utilizes a unique technology called MAGIC, which employs radio-frequency for qubit manipulation, aiming for easier scalability in manufacturing compared to other methods reliant on bespoke optics.
Read at TNW | Investors-Funding
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