Terra Quantum raises $60 million in series A funding

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Quantum has become the most important global technology frontier. Terra Quantum AG, Europe’s quantum technology company focused on providing an end-to-end technology platform delivering real quantum advantage to its customers already today, Terra Quantum not only supports its industrial clients developing solutions for intractable problems. Its platform is also expected to help corporates and institutions in their fight against climate change by supporting the development of more efficient fertilizers, batteries, electricity grids, and much more.

January 20th announcement of a $60m Series A funding, states to be one of the largest global funding rounds achieved in the quantum tech space globally. Claims to have assembled one of the biggest quantum tech teams globally and focused on algorithms, software, quantum computes, and quantum safety, Terra Quantum targets a global customer base.

The new shareholders include two of the largest and globally renowned German family offices and one of the most influential cryptocurrency investors globally. The new investors have deep roots and entrepreneurial backgrounds in the pharmaceutical, logistics, and blockchain spaces. With their individual investments, they are seeking to ensure faster drug development – more important than ever against the backdrop of the global COVID pandemic, more efficient logistics, and quantum security. Lakestar, which backed the company from its Seed round in 2019, has reaffirmed its commitment in this landmark round underlining its firm belief in the potential of Terra Quantum’s pioneering approach focused on revolutionary quantum applications.

Markus Pflitsch, founder and CEO of Terra Quantum

Markus Pflitsch, founder and CEO of Terra Quantum says: “The Series A funding round enables us to drive forward our leading position in the field of quantum computing as we have evolved from a DeepTech start-up into a global quantum business. I am extremely proud of our recent milestones having launched the first hybrid quantum cloud data center (QMware) and a super-secure global quantum protocol based on the quantum key distribution (QKD) and grateful for the support of all of our partners who have and will support us on our path. Our new investors share my strong conviction with me that quantum will play a pivotal role in all major industries. The new funding will help us to strengthen our research capabilities, accelerate our industrial roll-out, and further extend our “Quantum-as-a-Service” product offering.

In addition, the appointment of industry veterans Prof. Valerii Vinokur as Co-CTO, one of the world’s leading physicists, and Dr. Florian Neukart as CPO, quantum expert and former director of Volkswagen’s Data Lab, has been strategically aligned with Terra Quantum’s growth strategy. We have an experienced, talented, and global team with whom we will achieve our ambitious mission to lead the international quantum revolution. We plan to expand our operations globally by opening a new office in Silicon Valley (US) and in the Munich Quantum Valley (Germany). We can’t wait for it.”

Stephen Nundy, partner and CTO at Lakestar says: “We strongly believe in partnering with exceptional technology founders. We have trusted the incredible potential of Terra Quantum’s quantum technology from day one. Terra Quantum has consistently proven its leading role in driving the second quantum revolution. Its pioneering quantum applications have tremendous potential, for example, to solve the imminent quantum cryptography challenges. We are incredibly excited to further support Terra Quantum in its continued growth on a global scale.”

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