Total amount raised
$90 Millions
Latest funding date
02/01/2023
Location
Terra Quantum has successfully raised $100 million in one of the largest global quantum funding rounds, supported by leading European investors. The company offers Quantum as a Service, providing solutions in quantum algorithms, computing, and security.
Keep reading to explore the intricacies of Terra Quantum's fundraising journey and the investors backing this innovative platform.
What Is Terra Quantum?
Terra Quantum, founded in 2019 by Markus Pflitsch, is a full-stack quantum technology company based in Sankt Gallen, Switzerland. The company operates in industries such as computer, information technology, quantum computing, and security.
With a team of 51-100 employees, Terra Quantum offers Quantum as a Service, focusing on quantum algorithms, computing, and security. Their mission is to bridge the gap between science and industry, creating a comprehensive quantum tech ecosystem.
How Much Funding Has Terra Quantum Raised?
- Pre-Seed Round
- Amount Raised: $5M
- Date: June 2019
- Lead Investors: Lakestar
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's initial operations and develop its quantum technology solutions.
- Venture Round
- Amount Raised: $10M
- Date: April 2020
- Lead Investors: Lakestar
- Valuation at Round: $50M
- Motivation Behind the Round: To build infrastructure and software solutions for quantum technology, contributing to a diverse venture project portfolio.
- Series A
- Amount Raised: $75M
- Date: January 2022
- Lead Investors: Lakestar
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and advance their quantum technology offerings.
- Private Equity Round
- Amount Raised: Not publicly disclosed
- Date: February 2023
- Lead Investors: Investcorp
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and commercialize their quantum technology solutions.
Total Amount Raised: $90M
Current Valuation: Not publicly disclosed
Key Investors
- Investcorp
- Details: Investcorp is a global investment firm that manages alternative investment products, including private equity, real estate, and credit management. Founded in 1982, it has offices in New York, London, and Bahrain.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Tiffany & Co., Gucci, Saks Fifth Avenue
- Lakestar
- Details: Lakestar is a leading European venture capital firm that invests in technology companies. It has a history of backing successful startups and helping them scale globally.
- Investment Focus Areas: Fintech, healthtech, SaaS, deep tech, mobility
- Notable Investments: Spotify, Skype, Facebook, Airbnb
What's Next for Terra Quantum?
Terra Quantum stands at the forefront of a burgeoning quantum technology landscape, with opportunities to revolutionize industries such as transport, medicine, and manufacturing. The company's focus on developing hybrid quantum algorithms and building robust infrastructure positions it to make significant strides in these fields.
As the quantum tech ecosystem grows, Terra Quantum is likely to attract further investment, enabling it to scale operations and enhance its technological offerings. However, the path ahead is not without challenges. The company must navigate intense competition from major players like IBM and Google while proving the practical relevance of its innovations.
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