German deeptech company eleQtron has raised €57 million in a Series A round, marking one of the larger early-stage financings in quantum computing globally. The round was led by Schwarz Digits, with participation from the European Innovation Council Fund, Earlybird, Ankaa Ventures, Precitec, NRW.BANK, and IFB Hamburg. The funding package also includes grants from the European Union and the state of North Rhine-Westphalia.
Founded in 2020 as a spin-off from the University of Siegen, eleQtron develops trapped-ion quantum processors and is focused on bringing quantum systems closer to industrial use. Its core technology, known as MAGIC, uses microwaves for qubit control and is designed to support more precise and scalable hardware.
The company said it will use the new capital to expand production capacity, broaden cloud access to its systems, and further develop its hardware platform for industrial deployment. The raise comes as quantum computing companies face growing pressure to move beyond research and demonstrate scalable commercial infrastructure.
Founded in 2020 as a spin-off from the University of Siegen, eleQtron develops trapped-ion quantum processors and is focused on bringing quantum systems closer to industrial use. Its core technology, known as MAGIC, uses microwaves for qubit control and is designed to support more precise and scalable hardware.
The company said it will use the new capital to expand production capacity, broaden cloud access to its systems, and further develop its hardware platform for industrial deployment. The raise comes as quantum computing companies face growing pressure to move beyond research and demonstrate scalable commercial infrastructure.