The quantum race heats up as eleQtron closes €57M Series A
eleQtron, a developer of trapped-ion quantum computers, has closed a €57 million Series A funding round, one of the largest Series A funding rounds in quantum computing worldwide. The round was led by Schwartz Digits, with additional funding from the EIC Fund of the European Innovation Council, existing investor Earlybird, Ankaa Ventures, Precitec, NRW.BANK, and IFB Hamburg.
In the words of Jan Henrik Leisse, Co-Founder and CEO, eleQtron: “Quantum computing is transitioning from a research-driven technology to an industrially usable infrastructure. With this funding, we are accelerating that transition and building systems that will solve real-world industrial problems.”
This funding round marks a significant step towards the industrial scaling of eleQtron’s technology and underscores the growing momentum in the global race to commercialise quantum computing. eleQtron already has an order backlog of more than €54 million, underlining the growing commercial demand, and places the company among the few quantum computing players with meaningful commercial traction.
eleQtron, spun out of the University of Siegen in 2020, has built its identity around bridging the gap between academic research and industrial-scale quantum computing. The company is betting on a growing consensus in the tech world: that quantum computing is becoming as foundational to digital infrastructure as data centres, fibre networks, and AI platforms. This investment round will accelerate that vision – fast-tracking the shift of eleQtron’s systems from the laboratory bench to factory floors and enterprise environments.
The new capital will be used to build scalable production capacity, expand Cloud-based access to eleQtron’s systems, and further advance development of its hardware platform. eleQtron is also advancing its proprietary MAGIC technology (Magnetic Gradient Induced Coupling), which enables highly precise control of trapped ions using miniaturised microwave technology – providing a clear path toward scalable quantum computers.
“Quantum computing is entering a crucial phase of industrialisation. Companies such as eleQtron, which combine scientific excellence with a clear focus on scalable systems, are key to translating Europe’s strengths into globally competitive technologies,” emphasises Svetoslava Georgieva, Chair of the EIC Fund Board.
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