planqc raises €50M in Series A funding to accelerate quantum computing cloud service

planqc

planqc successfully closed a €50M ($54.2M) Series A funding round led by CATRON Holding and DeepTech & Climate Fonds. The capital will be used to establish a cloud-based quantum computing service and develop quantum software for applications in chemistry, healthcare, climate tech, automotive, and finance.

• €50M Series A led by CATRON Holding and DTCF
• Additional investors include Bayern Kapital, Max-Planck Foundation, UVC, and Speedinvest
• Includes non-dilutive grant from German Federal Ministry of Education and Research
• Funding to establish quantum cloud service and develop domain-specific software
• planqc founded in 2022 as first spin-off from Max Planck Institute of Quantum Optics