Terra Quantum has extended its Series A financing round from January by a total of 15 million US dollars. In total, the company has now been able to raise 75 million US dollars, despite the fact that gross proceeds of 60 million US dollars had already made the January financing round one of the largest ever for firms in the area of quantum technologies. According to a press release, “new investors with deep roots in financial services” have now joined existing investors such as the Zurich-based venture capital firm Lakestar.
According to information in the press release, Terra Quantum became the first company to reveal the underlying mechanism of ferroelectric-based negative capacitance. Moreover, the company’s research has opened up the possibility of developing super-low-power transistors the size of human DNA for the first time. Overall, the research results achieved by Terra Quantum are contributing to unlocking new potentials in the areas of quantum computers and nanotechnologies.
The company’s insights into terahertz electronics (Thz) are also interesting. For example, terahertz spectroscopy offers new possibilities in the healthcare sector, among others. In this context, Terra Quantum highlights new methods in diagnostics, such as non-invasive procedures for early cancer detection, in particular.
With this fresh capital injection, Terra Quantum now intends to expand its offering in the areas of algorithms, data cryptography and cyber security, in addition to advancing the development of hardware for quantum computers.
“The extension of our Series A and our remarkable breakthrough around negative capacitance only further illustrates our strong trajectory and commitment to leading the global quantum revolution”, comments Markus Pflitsch, founder and CEO of Terra Quantum, in the press release, before adding: “The applications of our research are endless, and we can’t wait to take the next steps to realize them”.
