Danish quantum software startup Kvantify has announced the successful completion of a €10 million seed round.
Kvantify leverages quantum and high performance computing to create innovative solutions to complex scientific and industrial challenges.
The goal is to make quantum computing technology widely available and a valuable tool for businesses around the world.
VC firm Dreamcraft is leading the round alongside biotech investment firms Lundbeckfonden, BioCapital and private investment firm 2degrees. Other notable investors include Redstone VC, Danish Quantum VC giant 2xN and EIFO.
Jacob Falck Hansen, Partner at Lundbeckfonden BioCapital, said:
“With our investment in Kvantify, we are committed to expanding and strengthening our footprint in the Danish life sciences ecosystem.
Quantum computing can bring a level of precision and risk mitigation to the earliest stages of drug development not possible with classical computers, accelerating time to market.
So, we are excited about this opportunity and look forward to working with the Kvantify team to bridge quantum computing and drug development for the future benefit of patients.”
Commenting on the successful product launch of their groundbreaking drug discovery tool, Hans Henrik Knudsen, CEO of Kvantify, said:
“On behalf of the founding team, we are incredibly pleased to have closed our €10 million seed round, which marks an important milestone for Kvantify.
“This funding validates our vision to leverage quantum computing to revolutionize the life sciences industry and provides us with the resources and strategic partnerships we need to accelerate our development and growth.”
The investment will accelerate Kvantify’s efforts to leverage quantum computing to address complex problems such as drug discovery, and will encourage further development of quantum algorithms for chemical simulation, broadening their applicability across industries.
Main image: Kvantify. Photo: Uncredited.
