Terra Quantum Raises $60M For Its Quantum-As-A-Service Platform
01/20/22, 8:01 AM
Money raised
$60 million
Industry
software
Terra Quantum, a Zurich, Switzerland-based startup that aims to build a Quantum-as-a-Service platform (including, eventually, its own proprietary quantum hardware), today announced that it has raised a $60 million Series A round led by Lakestar, which also backed the company’s 2019 seed round. The additional investors in this round prefer to remain anonymous. According to Terra, they include two of the largest and globally renowned German family offices and one of the most influential cryptocurrency investors globally.
Company Info
Additional Info
With its own quantum chips still a couple of years out, this currently means the company focuses on offering a library of quantum algorithms to its customers and quantum security tools, including a quantum key distribution service. As for its own hardware, the company tells me that it is “very interested in superconducting qubits.” The company plans to use the new funding to expand its R&D capabilities (something it’ll need if it wants to build its own quantum hardware) and extend its Quantum-as-a-Service offering (for which it’ll need that hardware).“We strongly believe in partnering with exceptional technology founders.