In the pre-seed funding round, Germany-based PaaS startup Quantagonia is backed by deep-tech investors including Finnish VC Voima Ventures. This is a first for Voima Ventures in making investments outside Finland and in quantum technology. The German startup provides advanced -and future-proof- quantum algorithms to fix the complex problems in business. It makes it easy to achieve this by placing the same models on quantum computers in the users’ existing classical hardware. This enables users to handle time-sensitive problems in less than a minute without struggling with the complex systems. Quantagonia will be using the funds to expand the company’s R&D team and to deliver its algorithms on quantum computing platforms.
“Quantum computing has the potential to radically help society and companies to find completely new solutions for global challenges like climate, health, and food production,” said Inka Mero, Managing Partner for Voima Ventures. “At the same time, quantum transformation requires major leaps in solution development. Supporting the Quantagonia team in lowering this barrier across industries to build both quantum readiness and accelerating the transformation to quantum age is a great fit with our mission to help founder scale solutions to global markets.”
Quantagonia established to bring the benefits of quantum computers to businesses today.
Bad Homburg, Germany – February 22, 2022 – Quantagonia GmbH announces the closing of its pre-seed funding round with a consortium of three deep-tech investors to bring the benefits of quantum computing algorithms to business today. With its ability to apply quantum algorithms to better solve existing business problems on today’s computers, Quantagonia can help businesses efficiently accelerate their on-ramp to Quantum computing.
For many decisions businesses face, such as in Finance, Supply Chain, and Energy Management, Quantagonia’s breakthrough, existing and in-development, algorithms let businesses address complex problems in real-time that previously could not be addressed algorithmically, and time-sensitive problems where current methods are slower than desired.
Quantagonia’s algorithms will deliver those benefits seamlessly across classical and quantum computers without requiring users to reformulate models as quantum computing hardware evolves. This capability helps future-proof today’s development efforts by making them hardware-agnostic – especially important where the underlying hardware is subject to rapid change.
Quantagonia was founded by Prof. Dr. Sabina Jeschke (former Board Member Deutsche Bahn AG and CEO of KI Park), Prof. Dr. Sebastian Pokutta (Professor of Machine Learning and Optimization at TU Berlin and Vice President of the Zuse Institute Berlin), Dirk Zechiel (Expert in AI, Optimization and Simulation and both co-founder and former Managing Director of Gurobi GmbH) and Philipp Hannemann (expert for large optimization problems). The team also includes additional researchers and management from leading universities and commercial companies in machine learning, mathematical optimization, quantum physics, and high-performance computing.
Quantagonia’s pre-seed round funding includes investments by FTTF – Fraunhofer Technology Transfer Fund in Germany, Voima Ventures in Finland, and a well-respected family office. Funds will be used to continue building the company’s R&D team to further accelerate the delivery of their algorithms on quantum computing platforms.
“Managing increasing complexity is a tough challenge in almost any industry. High hopes are put into quantum computers due to their expected superior performance,” said Jörg Wamser, Managing Partner at FTTF – Fraunhofer Technology Transfer Fund. “FTTF has invested in Quantagonia GmbH because its offering will enable companies to enter the Quantum Age in a convenient, cost-efficient, and extremely powerful way, without having to re-design or scrap current planning and optimization software suites.”
“The entire founding team at Quantagonia is excited to have the support of such established funding partners in helping to bring our technology to market,” said Dirk Zechiel, co-founder and CEO of Quantagonia. “We already can help companies start to take advantage of the benefits of quantum computing, and are excited about the product roadmap we have in front of us.”