HQS Quantum Simulations, an European startup for complex quantum simulations, has concluded a Series-A financing round and secured more than 12 million euros together with new research funding.
As a new investor, the French Quantum VC fund Quantonation is leading the financing round with already-invested VC funds, UVC Partners, btov Industrial Technologies, and HTGF.
HQS Quantum Simulations was formed in 2017 as a spin-off of the Karlsruhe Institute of Technology (KIT), and develops software for the simulation of quantum systems.
In Germany, HQS Quantum Simulations has been driving forward the key technology as part of the Q-Exa consortium. The aim of this interdisciplinary project is to install in the Leibniz Supercomputing Centre the first quantum computer manufactured in Germany, by the end of this year. Like most supercomputing centres, the High Performance Computing Centre at the Bavarian Academy of Sciences and Humanities uses significant parts of its computing power to solve problems relating to quantum mechanics, while sourcing the necessary software from HQS Quantum Simulations.
With its Active Space Finder open-source library, HQS Quantum Simulations is the only company worldwide currently working on a solution to the active space problem. Only by solving this problem will we see practical use of quantum computers for material simulation.
