Danish startup Kvantify bags €10M to help companies benefit from quantum computing: Here’s how

Copenhagen-based Kvantify, a quantum software startup, announced on Wednesday that it has secured €10M in seed funding round led by Danish VC Dreamcraft, with participation from biotech investor Lundbeckfonden BioCapital and the private investment company 2degrees.

Other notable investors include international sector-focused tech investor Redstone VC, Danish lead quantum VC 2xN, as well as, EIFO, participated in the round.

The funding will enable Kvantify to strengthen its position in quantum computing, with an initial focus on developing applications for the life science sector.

The Danish company will use the capital to boost the further development of quantum algorithms for chemical simulation, expanding its applicability across various industries.

Hans Henrik Knudsen, CEO of Kvantify, says, “On behalf of the founding team, we are incredibly excited about the completion of our €10M seed round, which marks a significant milestone for Kvantify. This funding not only validates our vision of leveraging quantum computing to revolutionise the life sciences industry but also provides us with the resources and strategic partnerships needed to accelerate our development and growth. With the support of new and existing investors, we are well-positioned to continue to bring groundbreaking solutions to market.”

Kvantify: Helping companies reap the benefits of Quantum Computing

Founded in 2022 by Hans Henrik Knudsen, Nikolaj Zinner, and Allan Grønlund, Kvantify is a quantum company that delivers software solutions and services to tackle the world’s most challenging and valuable problems in areas such as biotechnology and medicine.

The company is on a mission to make quantum computing technology widely accessible, and a valuable tool for businesses worldwide.

The company today comprises more than 65 experts in a broad range of fields, from quantum computing and software engineering to mathematics, physics, cheminformatics, and computational chemistry.

The investor

Danish VC Dreamcraft invests in tech-driven companies, from pre-seed to series A, and has a proven track record with B2B SaaS software.

“We’re thrilled to partner with the team at Kvantify as they take a significant step forward in their mission to fulfill the promise of industrial applications of quantum computers. The potential of quantum chemical computational drug discovery is massive and represents a truly exciting beachhead market. We cannot wait to see how Kvantify will help solve today’s seemingly impossible problems and serve as a crucial tool in designing the solutions of the future,” says Carsten Salling, General Partner at Dreamcraft.

Lundbeckfonden BioCapital is a Danish investor focused on local life science companies, supporting the translation and commercialisation of ground-breaking science.

This is Lundbeckfonden BioCapital’s first investment outside the therapeutics space.

“With our investment in Kvantify, we are broadening our footprint in and commitment to further strengthening the Danish life science ecosystem. Quantum computing can deliver accuracy and derisking to the early stages of drug development to a level not possible with classical computers, thereby enabling faster speed to market. We are therefore excited about this opportunity and look forward to working with the Kvantify team to bridge quantum computing and drug development to the future benefit of patients,” says Jacob Falck Hansen, Partner at Lundbeckfonden BioCapital.