Insider Brief
- Qilimanjaro Quantum Tech completed a €19.6 million –about $22 million USD — first close of its Series A round, with €10 million from Indra Group through IndraMind and €9.6 million from Spain’s SETT.
- The funding will support scaling and industrializing its quantum computers, developing new chips and expanding manufacturing and deployment capacity.
- The Barcelona-based company has deployed eight quantum systems, including three integrated with the Barcelona Supercomputing Center, and expects to complete the funding round in the fourth quarter.
PRESS RELEASE — Qilimanjaro Quantum Tech has completed a €19.6 million — about $22 million USD — first close of its Series A funding round, led by Indra Group through IndraMind with a €10 million investment. The Spanish Society for Technological Transformation (SETT), under the Ministry for Digital Transformation and Public Administration, is also renewing its commitment to the company with a new €9.6 million investment. The company expects to complete the round during the fourth quarter of the year, with the participation of Avançsa and other existing investors.
Indra Group is investing in Qilimanjaro through an instrument that will convert upon the closing of the round, while SETT is reinforcing its support for the company after having participated in its previous funding round.
The new capital will enable Qilimanjaro to scale and industrialize its quantum computers, advance the development of new generations of chips, and increase its manufacturing and deployment capacity, strengthening a technological capability developed in Spain and contributing to greater European technological autonomy in quantum computing.
“SETT’s renewed commitment and Indra’s investment bring sovereign and industrial capital together to protect, while also accelerating, national technological autonomy. Together, we are joining forces to bring quantum computing closer to strategic industrial sectors and to ensure that the quantum technology being built in Spain continues to grow in Spain,” said Marta P. Estarellas, CEO of Qilimanjaro Quantum Tech.
“Quantum computing will mark a decisive leap in the evolution of artificial intelligence and its ability to solve highly complex problems. With this transaction, Indra Group strengthens its position in this strategic field, while IndraMind expands the capabilities it can use to develop sovereign, differentiated solutions for defense, security and industry,” said Ignacio Martínez, General Manager of IndraMind.
Founded in Barcelona in 2019, Qilimanjaro is Spain’s only full-stack quantum computing company. It develops its own chips, software and algorithms and integrates cryogenics and control electronics to build complete quantum systems. Its core technology consists of digital and analog quantum processors based on superconducting fluxonium qubits, combined with high-performance classical computing in multimodal systems to provide the right platform for each optimization, simulation and artificial intelligence problem.
This model is already in production: three Qilimanjaro quantum systems are operating integrated with the Barcelona Supercomputing Center – Centro Nacional de Supercomputación (BSC-CNS), one of Europe’s largest supercomputing centers, including the first analog quantum computer integrated into a European HPC center. The company has 80 employees representing more than 22 nationalities, has deployed eight quantum systems, and works with customers in energy, telecommunications, logistics, healthcare and finance, offering on-premises systems, cloud access and specialized adoption services.