Tampere, Finland-based Quanscient, a company specialised in cloud-based multiphysics simulation technology and quantum algorithms, announced on Tuesday that it has secured €5.2M in funding.
The round was led by Crowberry Capital and joined by Speen Holding with follow-on investments from Finnish early-stage venture capital investors Maki.vc and First Fellow.
The Finnish company will use the funds to bring engineering simulations into the quantum era.
To date, the Finnish company has raised €9.9M in funding.
“With our new funding, we’ll continue to make breakthroughs in quantum algorithms. We’re set to revolutionise simulations by integrating our pioneering quantum algorithms within the next few years, transforming the future of engineering and pushing the boundaries of what’s possible,” says Juha Riippi, co-founder and CEO of Quanscient.
Quanscient: Revolutionising product engineering
Founded in 2021 by Juha Riippi, Alexandre Halbach, Asser Lähdemäki, and Valtteri Lahtinen, Quanscient has built the world’s first multiphysics simulation platform that uses cloud-native multiphysics solvers, advanced cloud computing, and aims for future quantum integration.
The company’s multiphysics simulation platform speeds up product development, saving time and money.
It helps companies launch innovative technologies, like fusion energy, 6G/7G, advanced semiconductors, biomedical, automotive, and aerospace.
The platform combines cloud-based multiphysics algorithms and advanced computing, boosting simulation capacity by 100 times.
In addition, Quanscient uses quantum algorithm development to address the growing demand for advanced solutions in highly complex R&D.
The company is also the first in the world to run a multiphysics simulation with real quantum hardware. They plan to release their first quantum product pilot in early 2025.
“To stay competitive, companies developing transformative technologies need better tools to rapidly test scenarios, optimise designs, and speed up time-to-market. Our solution boosts simulation capacity by 100 times, enabling engineers to iterate faster and tackle more complex challenges. This leads to superior products and a quicker, lower-risk path to market,” says Riippi.
The company partners with industry leaders in cloud computing and quantum algorithms, such as AWS, Intel, IBM, and NVidia as well as many quantum hardware companies such as IQM.
The investor
Crowberry Capital is a venture capital firm that invests in seed and early-stage startups across the Nordics.
“With Quanscient’s multiphysics simulations, global companies solve their most complex engineering challenges faster and more efficiently than ever before. By offering superior multiphysics capabilities, Quanscient speeds up innovation and creates significant value across rapidly growing global industries,” says Jenny Ruth Hrafnsdottir, Founding Partner, Crowberry Capital.
“The next-generation quantum algorithms mark a game-changing advancement in simulation technology, with Quanscient at the forefront. We’re excited to join them on their path to becoming the leader in quantum simulations,” adds Hrafnsdottir.
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