Anglo-Finnish Oxford University quantum spinout QuantrolOx raises €12M
An Anglo-Finnish University of Oxford quantum spinout has raised €12m in a funding round, it said today, as investment in the quantum sector continues to heat up.The Series A funding round in Quantrol...
The quantum spinout QuantrolOx, a collaboration between Oxford University and Finnish universities, has secured €12 million in Series A funding, fueling its expansion in the rapidly growing quantum sector. The investment round was led by IW Capital, with additional backing from the European Innovation Council (EIC) Fund and Transpose Capital.
QuantrolOx, headquartered in Finland, specializes in software solutions designed to optimize the performance of quantum computers. The startup's software can automate the tuning and control of quantum computers, overcoming a significant hurdle in the industry. A recent study demonstrated QuantrolOx's software outperforming the best human benchmark, processing quantum device tuning and control in under 70 minutes.
The team behind QuantrolOx consists of Vishal Chatrath, CEO and former Nokia executive; professor Andrew Briggs, emeritus professor of nanomaterials at Oxford University; Dr. Natalia Ares, a research fellow at Oxford University; and Dominic Lennon, chief product officer. The funding will be used to accelerate commercial growth and expand operations in the United States.
Existing investors in QuantrolOx include Hoxton Ventures and Arm co-founder Hermann Hauser. Chatrath emphasized the importance of QuantrolOx's role in establishing the foundations of the quantum industry, stating that their tools industrialize quantum hardware and train personnel to effectively operate it. With the support of IW Capital and the EIC Fund, QuantrolOx aims to set standards and expedite the path towards practical quantum computing.
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