Spain’s full-stack quantum computing company Qilimanjaro Quantum Tech completes €19.6 million Series A first close

Qilimanjaro Quantum Tech, Spain's sole full-stack quantum computing company, has successfully closed its Series A funding round worth €19.6 million. This investment was spearheaded by Indra Group via its sovereign artificial intelligence arm, IndraMind, with a €10 million contribution. Additionally, the Spanish Society for Technological Transformation (SETT), a public entity under Spain's Ministry for Digital Transformation and Public Administration, joined with another €9.6 million investment.

Ignacio Martínez, the General Manager of IndraMind, expressed that this funding will bolster Indra Group's standing in this vital area while enabling IndraMind to create unique, sovereign solutions for defense, security, and industry. Established in Barcelona in 2019 as a spin-off from IFAE, BSC, and the University of Barcelona, Qilimanjaro Quantum Tech specializes in building complete quantum computers.

This includes the development of their own chips, software, and algorithms, along with the integration of cryogenics and control electronics. The company's technology utilizes both digital and analogue quantum processors based on superconducting fluxonium qubits, which are inherently more resistant to errors than conventional transmon-based qubits.

Qilimanjaro's innovative approach, combining analogue and digital quantum processors with high-performance classical computing, differentiates it from its competitors. Three of the company's quantum systems are currently operational at the Barcelona Supercomputing Centre, with a fourth to be added soon. These systems are the first analogue quantum computers to be integrated into a European High-Performance Computing center.

To date, Qilimanjaro has deployed eight quantum systems, which serve customers in various sectors such as energy, telecommunications, logistics, healthcare, and finance. They also offer remote access to their quantum infrastructure via SpeQtrum Cloud, their Quantum-as-a-Service platform. The renewed commitment from SETT and Indra's investment signifies a combined effort to foster national technological autonomy and accelerate the growth of quantum computing within strategic industrial sectors in Spain.

The fresh capital will be utilized to scale and industrialize quantum computers, advance next-generation chip development, and expand manufacturing and deployment capabilities. The company anticipates completing the Series A funding round by the fourth quarter of 2026, with participation from Avançsa and other existing investors.