QphoX Raises $8M for Quantum Modem Tech

Dutch quantum computing company QphoX has raised an €8 million ($8.7 million) funding round. The investment is reportedly the largest made in a quantum company in the Netherlands to date. QPhox is developing the core hardware required to allow quantum computers to communicate over an optical network. This will enable the scalability of large quantum computing systems within a data center, and ultimately form the backbone of the future quantum internet.

Since raising €2 million ($2.2 million) in 2021, QphoX has made significant advances in its technology, including recent developments that bring mature quantum computers within reach. QphoX's core technology centers on the ability to build devices that enable quantum transduction, where (quantum) information can be translated between the microwave and optical domains.

The new funds will be used to accelerate product development and prepare QphoX's technology for integration into commercial systems as it continues its first pilot projects with customers and partners.

The round was led by QDNL Participations. The EIC Fund, and existing investors Quantonation, Speedinvest, High-Tech Gründerfonds, and Delft Enterprises also participated. The significant investment from the EIC Fund follows the grant from the EIC Accelerator to drive the development of QphoX's disruptive technology.