Orange Quantum Systems raises €12 million seed round

Our portfolio company Orange Quantum Systems is doing exciting work to transform the field of quantum chip testing. And now they’ve closed an oversubscribed €12 million seed round.

We backed OrangeQS at its earliest stage, and we’ve joined the seed round, which was led by Icecat Capital and also supported by Cottonwood Technology Fund, QBeat Ventures, and InnovationQuarter Capital. 

With a focus on accelerating the testing of quantum chips, OrangeQS’s flagship test product, OrangeQS MAX, sets new industry benchmarks for high‑volume, standardised quantum‑chip testing. Europe’s leading quantum‑computer builder, IQM, is an early customer.

Meanwhile, the OrangeQS FLEX and OrangeQS Juice products are being used in academic and industrial quantum R&D labs across the USA and Europe.

The new funds will be used to build even faster test machines that check quantum chips in days rather than weeks. We’re excited to work with OrangeQS on its path to becoming an essential part of the quantum computer supply chain.

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Meanwhile, our portfolio company QuantWare has extended its previously announced Series A round with an additional $4.5 million, oversubscribing it to $27 million. 

This follows strong interest from customers and investors, reflecting the company's commercial momentum and recent technological progress with VIO, a breakthrough technology that solves key bottlenecks in scaling quantum processors, paving the fastest way to quantum computers with over one million qubits in a single processor.

More portfolio news

• Fermioniq revealed details of its collaboration with Moderna and IBM to develop advanced quantum-centric optimisation methods for predicting secondary structures in longer mRNA sequences.

• Q*Bird was a key partner in the successful deployment of a 132-kilometer quantum key distribution (QKD) link connecting Belgium and Luxembourg. It is the first cross-border Measurement Device Independent QKD (MDI QKD) quantum communication infrastructure in the Benelux region.

• QphoX has partnered with Rigetti Computing and the UK National Quantum Computing Centre to realise optical readout of a fully-fledged superconducting quantum computer. QphoX has also released a white paper outlining its architecture for scalable quantum computing with optical links.

• QuantWare has been selected as a key partner for Australia’s first National Quantum Computing Testbed Facility (NQCT), alongside Zurich Instruments and Rohde & Schwarz. QuantWare has also signed an Australia and New Zealand distribution partnership with Nano Vacuum.

Quantum momentum

More recent developments from the world of quantum tech:

• NVIDIA CEO Jensen Huang believes that quantum computing is reaching an inflection point. His stance on quantum has shifted significantly in recent months, a fact reflected in the recent news that NVIDIA is reportedly in advanced talks to invest in PsiQuantum as part of a $750+ million round, also including investors such as BlackRock, at a $6 billion pre-money valuation.

• IonQ has continued its M&A spree with the $1.1 billion acquisition of Oxford Ionics, a leading developer of ion trap quantum computers. This follows last month's $400 million acquisition of Lightsynq, a quantum networking business spun out of Amazon just over a year ago.

• Quantum computing software company Classiq has raised a $110 million Series C round

• Infleqtion, which is commercialising atom-based quantum systems across computing, sensing, and precision timing, has raised a $100 million Series C round.

• IBM plans to build the world’s first large-scale, fault-tolerant quantum computer, at 200 logical qubits and 100 million quantum operations. It aims to complete the ‘Quantum Starling’ by 2029.

Look out for more news from QDNL Participations soon.