Qblox secures $26 Million in series A funding to accelerate quantum control stack development
BELOW IS A PRESS RELEASE BY QBLOX
[Delft, The Netherlands, June 20th 2024] — Qblox, a leading innovator in quantum technology, announces the successful closure of its Series A funding round, securing $26 million in investment led by Quantonation and Invest-NL Deep Tech fund and with the participation of QDNL participations and the European Innovation Council (EIC).
This funding milestone signifies a strategic step for Qblox as it continues to drive advancements in quantum control stack development. By integrating extremely scalable hardware and software solutions, Qblox is enabling quantum computer builders around the world to reach industrial applications.
"This Series A funding marks a significant milestone in Qblox's journey to drive quantum innovation forward, " said Niels Bultink, co-founder and CEO of Qblox. "It has always been clear to us that quantum technology should be seen as a value chain where we work with dedication on one crucial layer of the stack, currently serving over one hundred customers. Almost uniquely in the industry, this has allowed us to grow the company exponentially fueled by revenue rather than investments. With our first equity investment we secure our long-term growth, positioning Qblox as the enabler for industrial-scale quantum systems. "
"We have closely followed Qblox's impressive journey over the past four years. Their achievements have been remarkable, and we are thrilled to invest in Qblox alongside Invest NL to help accelerate their transition to the industrial market, commented Oliver Tonneau, Partner of Quantonation. "Their expertise in control stack development, and their unique modular and scalable technology make them a standout player in the field. We look forward to seeing the impact of this investment on their continued progress."
"Investing in quantum technology is crucial for pioneering complex technologies that provide solutions to societal challenges. We believe that Qblox is well-positioned to shape the future of quantum computing,” stated Yvonne Greeuw, Investment Manager at Invest-NL. "We are impressed by the team and proven track record of innovation and growth, demonstrating their ability to make a significant impact in the industry. We at Invest-NL are excited to be a part of their journey.”
The Series A funding will enable Qblox to expand its research and development efforts, accelerate product development, and further strengthen its market position. Additionally, the company will focus on expanding its team to meet growing demand and drive future growth.
For more information about Qblox and its quantum control stack solutions, please visit:
