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Kvantify, a leading quantum software start-up, has announced the successful closure of a 10 million seed round. This funding will enable Kvantify to strengthen its position as a global leader in quantum computing, with an initial focus on developing applications for the life science sector.

The seed round is led by Danish VC Dreamcraft, together with biotech investor Lundbeckfonden BioCapital and the private investment company 2degrees. Other notable investors include international sector-focused tech investor Redstone VC, Danish lead quantum VC 2xN as well as EIFO.

Lundbeckfonden BioCapital is a large Danish investor focused on local life science companies, supporting the translation and commercialization of ground-breaking science. This is Lundbeckfonden BioCapitals first investment outside the therapeutics space.

Hans Henrik Knudsen, CEO of Kvantify, commented: On behalf of the founding team, we are incredibly excited about the completion of our 10 million seed round, which marks a significant milestone for Kvantify. This funding not only validates our vision of leveraging quantum computing to revolutionize the life sciences industry but also provides us with the resources and strategic partnerships needed to accelerate our development and growth. With the support of new and existing investors, we are well-positioned to continue to bring groundbreaking solutions to market.

The investment will accelerate the development of Kvantifys innovative solutions that aim to leverage quantum computing to address complex problems in drug discovery and beyond. It will also boost the further development of quantum algorithms for chemical simulation, expanding their applicability across various industries.

With our investment in Kvantify, we are broadening our footprint in and commitment to further strengthening the Danish life science ecosystem. Quantum computing can deliver accuracy and derisking to the early stages of drug development to a level not possible with classical computers, thereby enabling faster speed to market. We are therefore excited about this opportunity and look forward to working with the Kvantify team to bridge quantum computing and drug development to the future benefit of patients, said Jacob Falck Hansen, Partner at Lundbeckfonden BioCapital.

Danish VC Dreamcraft invests in tech-driven companies, from pre-seed to series A, and has a proven track record with B2B SaaS software.

Were thrilled to partner with the team at Kvantify as they take a significant step forward in their mission to fulfill the promise of industrial applications of quantum computers. The potential of quantum chemical computational drug discovery is massive and represents a truly exciting beachhead market. We cannot wait to see how Kvantify will help solve todays seemingly impossible problems and serve as a crucial tool in designing the solutions of the future, added Carsten Salling, General Partner at Dreamcraft.

Redstone QAI Quantum Fund is a highly specialized venture capital fund that focuses on investing in groundbreaking technologies within the quantum technologies sector.

Kvantifys focus on applying quantum computing to life sciences and further industrial use cases across various sectors aligns with our strategic vision of advancing practical and impactful quantum solutions. With their interdisciplinary team, in-depth knowledge of quantum technology, and innovative approach to enhancing computational eiciency, Kvantify is perfectly placed to bring tremendous value to commercial markets, said Marco Stutz, Partner at Redstone.

More:
Copenhagen-based Kvantify secures 10 million to unlock quantum computing for the life science sector - EU-Startups

Insider Brief

In the latest episode of the Tech Podcast, Shai Phillips, president of a company that provides quantum technology executive search firm, shares his insights on the evolving landscape of the quantum computing industry. His firm, PSIRCH (pronounced search), is pioneering in its focus on senior management roles within the quantum sector.

PSIRCH stands out as the only dedicated division of an established executive search firm specializing exclusively in quantum technology. Founded in 2019 under the umbrella of Berkhemer Clayton Executive Search, a 30-year-old firm, PSIRCH leverages decades of experience serving Fortune 500 companies, private multinationals, universities, and nonprofits. We are the only operation of our kind anywhere in the world, Phillips explains.

Phillips grew up in London and studied at Cambridge University; his fascination with quantum mechanics was ignited by lectures from Stephen Hawking. Despite his non-technical academic background, his passion for quantum led him to spearhead PSIRCHs quantum division following significant advancements in commercialization, such as Googles Quantum Supremacy announcement.

I was extremely interested in quantum technology coming up, Phillips says. In 2019, when commercialization began to take off, I realized we needed to carve out a niche in executive search for this burgeoning field.

Phillips highlights a critical challenge in the quantum computing market: the pervasive skepticism and cynicism, even among industry insiders.

The biggest hurdle we face is skepticism. Theres a pervasive cynicism even among industry insiders, he notes. To combat this, Phillips writes a monthly column titled The Unexaggerated Magic of Quantum in The Quantum Insider. I aim to debunk the myth that quantum technologys promises are overhyped. There is a lot of promise to quantum computing, and we need to shift the narrative from skepticism to optimism.

The global quantum landscape is vibrant, with significant activity in the US, Germany, France, the UK, the Netherlands, and Scandinavia. Companies like Pasqal in France and PsiQuantum, with its multinational roots, illustrate the industrys global integration.

Quantum is inherently global. You cant do quantum on a domestic basis, Phillips said.

The Quantum Insiders intelligence platform tracks the number of quantum computing companies, providing valuable insights into the market. The platform tracks over 1,300 vendors across the supply chain and the number continues to grow.

Government funding, particularly from the US Department of Energy and Department of Defense, underscores the strategic importance of quantum technology. This funding is crucial to maintaining a competitive edge, especially against countries like China. The strategic importance of quantum technology cannot be overstated. Its about staying ahead, particularly in the face of competition from China.

Yet, the market is still maturing. We are early to the game, Phillips acknowledges. Most companies are building their quantum teams from the ground up, starting with junior engineers. Its a grassroots approach.

For technical positions, a PhD is typically required, along with considerations around security clearances due to national security implications.

For technical roles, a PhD is almost always necessary. There are also significant national security concerns, so many positions require top secret security clearances, Phillips said.

For executive roles, theres more flexibility, according to Phillips, who added: You can bring in talent from adjacent industries. For example, a CEO might come from a tech background rather than quantum specifically.

PSIRCH employs a comprehensive approach to recruitment.

We use everything from social media to direct outreach and networking. We leverage our extensive network within the quantum industry and go the extra mile to ensure a thorough and creative assessment process, Phillips said

A key focus for PSIRCH is promoting women in leadership. Our CEO, Betsy Berkhemer-Credaire, has been a prolific advocate for women on corporate boards, Phillips said. Theres a strong movement within the quantum industry called Women in Quantum, which we actively support. Were seeing positive trends, though theres always room for improvement.

Phillips offers a glimpse into the future of the quantum technology sector: The quantum technology sector is poised for incredible growth. The need for specialized talent at the senior management level will become increasingly critical. With firms like PSIRCH leading the charge, the future looks promising.

Link:
Bridging the Gap: Shai Phillips on the Quantum Technology Executive Search Landscape - The Quantum Insider

The round is led by Danish VC Dreamcraft, together with biotech investor Lundbeckfonden BioCapital and the private investment company 2degrees.

COPENHAGEN, Denmark, July 3, 2024 /PRNewswire/ --Kvantify, a leading quantum software start-up, has announced the successful closure of a EUR 10 million seed round. This funding will enable Kvantify to strengthen its position as a global leader in quantum computing, with an initial focus on developing applications for the life science sector.

The investment will accelerate the development of Kvantify's innovative solutions that aim to leverage quantum computing to address complex problems in drug discovery and beyond. It will also boost the further development of quantum algorithms for chemical simulation, expanding their applicability across various industries.

The seed round is notable not only for its substantial size but also for the strategic match of the new investors to Kvantify's mission. It is led by Danish VC Dreamcraft, together with biotech investor Lundbeckfonden BioCapital and the private investment company 2degrees. Other notable investors include international sector-focused tech investor Redstone VC, Danish lead quantum VC 2xN as well as EIFO.

Lundbeckfonden BioCapital is a large Danish investor focused on local life science companies, supporting the translation and commercialization of ground-breaking science. This is Lundbeckfonden BioCapital's first investment outside the therapeutics space.

"With our investment in Kvantify, we are broadening our footprint in and commitment to further strengthening the Danish life science ecosystem. Quantum computing can deliver accuracy and derisking to the early stages of drug development to a level not possible with classical computers, thereby enabling faster speed to market. We are therefore excited about this opportunity and look forward to working with the Kvantify team to bridge quantum computing and drug development to the future benefit of patients," said Jacob Falck Hansen, Partner at Lundbeckfonden BioCapital.

Danish VC Dreamcraft invests in tech-driven companies, from pre-seed to series A, and has a proven track record with B2B SaaS software.

"We're thrilled to partner with the team at Kvantify as they take a significant step forward in their mission to fulfill the promise of industrial applications of quantum computers. The potential of quantum chemical computational drug discovery is massive and represents a truly exciting beachhead market. We cannot wait to see how Kvantify will help solve today's seemingly impossible problems and serve as a crucial tool in designing the solutions of the future." - Carsten Salling, General Partner at Dreamcraft

Redstone QAI Quantum Fund is a highly specialized venture capital fund that focuses on investing in groundbreaking technologies within the quantum technologies sector.

"Kvantify's focus on applying quantum computing to life sciences and further industrial use cases across various sectors aligns with our strategic vision of advancing practical and impactful quantum solutions. With their interdisciplinary team, in-depth knowledge of quantum technology, and innovative approach to enhancing computational efficiency, Kvantify is perfectly placed to bring tremendous value to commercial markets." Marco Stutz, Partner at Redstone.

In light of their successful product launch for a groundbreaking drug discovery tool, Hans Henrik Knudsen, CEO of Kvantify, comments:

"On behalf of the founding team, we are incredibly excited about the completion of our 10 million seed round, which marks a significant milestone for Kvantify. This funding not only validates our vision of leveraging quantum computing to revolutionize the life sciences industry but also provides us with the resources and strategic partnerships needed to accelerate our development and growth. With the support of new and existing investors, we are well-positioned to continue to bring groundbreaking solutions to market."

About Kvantify Kvantify is a pioneering quantum software company based in Denmark. The company leverages quantum and high-performance computing to create revolutionizing solutions for complex scientific and industrial challenges. Kvantify's mission is to make quantum computing technology widely accessible, and a valuable tool for businesses worldwide. For more information, please visit (www.kvantify.com).

Additional questions Klaus Eriksen, Communications Officer, Kvantify. Phone: (+45) 61 699 700. Email: [emailprotected]

Photo -https://mma.prnewswire.com/media/2452960/Kvantify_founders.jpg Logo -https://mma.prnewswire.com/media/2452959/Kvantify_Logo.jpg

SOURCE Kvantify ApS

Continued here:
Danish start-up Kvantify secures EUR 10 million seed round to unlock quantum computing potential, starting with life ... - PR Newswire

End of drawer navigation content Skip to main content But significant barriers remain preventing the technologies from unlocking their full potential

Ravi Menon

Asset tokenisation, artificial intelligence (AI) and quantum computing are the three breakthrough technologies that have the best prospects for transforming finance, according to Ravi Menon, former managing director of the Monetary Authority of Singapore (MAS).

Menon told an audience at the Point Zero conference in Switzerland on July 3 that he believed harnessing fintech would have deeply impactful benefits, so long as substantial risks associated with new technology are mitigated. He also

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AI, quantum computing and tokenisation set to transform finance Menon - Central Banking

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Kvantify, a Copenhagen-based quantum software startup, has successfully closed a 10 million seed round. This funding will enable the startup to strengthen its position as a global leader in quantum computing, focusing initially on life sciences applications. The round is led by Danish VC Dreamcraft, alongside biotech investor Lundbeckfonden BioCapital and the private investment company 2degrees, with participation from Redstone VC, 2xN, and EIFO. Kvantify plans to use the investment to accelerate the development of quantum solutions for drug discovery and chemical simulation, aiming to address complex problems and expand applicability across various industries. This strategic funding will enhance Kvantifys innovative capabilities, ensuring a significant impact on the life sciences sector and beyond.

Kvantify is dedicated to harnessing the power of quantum computing to solve complex scientific and industrial challenges. With a strong emphasis on life sciences, Kvantify develops advanced quantum algorithms and high-performance computing solutions aimed at revolutionizing drug discovery and chemical simulation. Their mission is to make quantum technology accessible and valuable to businesses worldwide, driving innovation and efficiency in various sectors. Leveraging an interdisciplinary team and cutting-edge technology, Kvantify is positioned at the forefront of the quantum computing revolution.

The seed round is notable not only for its substantial size but also for the strategic match of the new investors to Kvantifys mission. It is led by Danish VC Dreamcraft, together with biotech investor Lundbeckfonden BioCapital and the private investment company 2degrees. Other notable investors include international sector-focused tech investor Redstone VC, Danish lead quantum VC 2xN as well as EIFO.

Lundbeckfonden BioCapital is a large Danish investor focused on local life science companies, supporting the translation and commercialization of ground-breaking science. This is Lundbeckfonden BioCapitals first investment outside the therapeutics space.

With our investment in Kvantify, we are broadening our footprint in and commitment to further strengthening the Danish life science ecosystem. Quantum computing can deliver accuracy and derisking to the early stages of drug development to a level not possible with classical computers, thereby enabling faster speed to market. We are therefore excited about this opportunity and look forward to working with the Kvantify team to bridge quantum computing and drug development to the future benefit of patients, said Jacob Falck Hansen, Partner at Lundbeckfonden BioCapital.

Danish VC Dreamcraft invests in tech-driven companies, from pre-seed to series A, and has a proven track record with B2B SaaS software.

Were thrilled to partner with the team at Kvantify as they take a significant step forward in their mission to fulfill the promise of industrial applications of quantum computers. The potential of quantum chemical computational drug discovery is massive and represents a truly exciting beachhead market. We cannot wait to see how Kvantify will help solve todays seemingly impossible problems and serve as a crucial tool in designing the solutions of the future. says Carsten Salling, General Partner at Dreamcraft.

Redstone QAI Quantum Fund is a highly specialized venture capital fund that focuses on investing in groundbreaking technologies within the quantum technologies sector.

Kvantifys focus on applying quantum computing to life sciences and further industrial use cases across various sectors aligns with our strategic vision of advancing practical and impactful quantum solutions. With their interdisciplinary team, in-depth knowledge of quantum technology, and innovative approach to enhancing computational efficiency, Kvantify is perfectly placed to bring tremendous value to commercial markets, says Marco Stutz, Partner at Redstone.

In light of their successful product launch for a groundbreaking drug discovery tool, Hans Henrik Knudsen, CEO of Kvantify, comments:

On behalf of the founding team, we are incredibly excited about the completion of our 10 million seed round, which marks a significant milestone for Kvantify. This funding not only validates our vision of leveraging quantum computing to revolutionize the life sciences industry but also provides us with the resources and strategic partnerships needed to accelerate our development and growth. With the support of new and existing investors, we are well-positioned to continue to bring groundbreaking solutions to market.

Click to read more funding news.

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Continued here:
Danish startup secures 10M seed to advance quantum computing in life sciences - ArcticStartup