Qblox secures $26 million Series A to accelerate quantum control stack development
We’re thrilled to announce that our portfolio company Qblox has secured an impressive $26 million Series A funding round.
“We were the first venture investor into Qblox, less than one year ago. Today, Qblox has established itself as one of the leading startups in supplying control system hardware and software for the quantum technology industry”. Ton van ‘t Noordende, General Partner at QDNL Participations
This is one of the biggest Series A rounds worldwide for quantum technology this year and marks the largest investment round ever for a quantum company in The Netherlands
The Series A was led by Quantonation and the Invest-NL Deep Tech Fund, alongside QDNL Participations (QDNL-P) and the European Innovation Council.
Quantum computing, sensing, and networking systems require electronic control technology for their development and operation. Qblox has established itself as one of the leading providers of these control systems, and is poised to capitalize on the growing adoption of quantum technologies across a range of industries.
The concept for Qblox emerged from Delft University of Technology (TU Delft) in 2018, and the company was spun out of the university the following year. We’ve known the team since 2019, and it's been truly impressive to see Qblox grow to become a leader in its field.
The Qblox control stack, known as the Cluster, combines key technologies for qubit control and readout with a modular solution supporting a wide variety of customers and qubit platforms. By integrating extremely scalable hardware and software solutions, Qblox is enabling quantum computer builders around the world to reach industrial applications.
The company’s founders, Niels Bultick and Jules van Oven, combine a strong academic foundation with the entrepreneurial drive that is essential to building a successful university spinout.
Niels says:
“It has always been clear to us that quantum technology should be seen as a value chain where we work with dedication on one crucial layer of the stack, currently serving over one hundred customers. Almost uniquely in the industry, this has allowed us to grow the company exponentially fueled by revenue rather than investments. With our first equity investment we secure our long-term growth, positioning Qblox as the enabler for industrial-scale quantum systems.”
Qblox will use the new funding to expand its research and development efforts, accelerate product development, and further strengthen its market position. The company will also expand its team to meet growing demand and drive future growth.
“Qblox has a unique combination of rapidly expanding market, a stellar and highly technical founding team, and an already established track record of strong revenue growth. Their impact on the quantum sector and advanced computing is just beginning.” In mid-2023, Chad Rigetti led QDNL-P's initial round of funding for Qblox.
About Qblox
Qblox is a leading provider of scalable and modular quantum control stacks. Qblox operates at the frontier of the quantum revolution in supporting academic and industrial labs worldwide with quantum control electronics. The Qblox control stack, known as the Cluster, combines key technologies for qubit control and readout with a modular solution supporting a wide variety of customers and qubit platforms.
The Qblox team is 95+ members strong and continues to innovate hardware and software that is qubit-type-agnostic, sophisticated, and scalable to support operations on thousands of qubits.
About Qutech/TuDelft
QuTech is a world leading advanced research center and research institute, formally founded in 2015 by Delft University of Technology (TU Delft) and the Netherlands Organisation for Applied Scientific Research (TNO).
About QDNL Participations (QDNL-P)
QDNL-P is a specialist venture fund investing in early stage quantum technology companies. We invest in quantum computing, sensing, communication, and enabling technologies.
