€17.5m for photonic quantum transistors
Quantum Transistors in Israel has raised €17.5m, including a €2.5m grant from the European EIC accelerator.
The investment in Quantum Transistors is the largest in the latest EIC accelerator funding round of funding for 68 companies. The company will use the investment to scale-up its R&D and expand its team. It is developing an integrated universal quantum processor on a single chip using photonics.
Low noise silicon quantum dots for more reliable quantum computers
“This investment is not just about financial support but is a resounding validation of our vision and technology. We are leveraging the trillions invested in the semiconductor industry over the past four decades to build a scalable quantum technology, so that society can finally benefit from its immense potential,” said Shmuel Bachinsky, CEO and Co-founder of Quantum Transistors.
“We are trying to do for quantum computing what Intel’s 8086 did for classical computing – make it more accessible to everyone. This funding will help us bring the same accessibility to quantum computing. We are thrilled and thankful that the EIC is playing such an active role in supporting our journey.”
Native photonics is a crucial aspect of the company’s approach, as each qubit is photonically connected, eliminating inter-qubit noise caused by proximity. This not only enhances computational power, but also allows for deployment in standard data centers – significantly reducing costs and eliminating the need for massive mainframes.
The EIC Accelerator supports start-ups and SMEs with grants up to €2.5 million and equity investments from €0.5 to €15m.
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