Quanscient joined Platform6 in November 2021, and ever since we have been nothing but amazed with their incredible startup journey and fast-paced growth. We are very proud of having them in our community and looking forward to keeping supporting them in reaching new milestones and achieving their vision.
From the official press-release (20.04.2023):
Quanscient, founded in 2021, is the first provider of cloud and quantum computing-powered multiphysics simulation technology. Quanscient offers fully digital R&D processes with its unique combination of native multiphysics algorithms, advanced cloud computing, and the prospect of future quantum integration. The company is today announcing its 3.9 million euros in Seed financing, led by Maki.vc.
Quanscient’s cloud-based simulation technology enables faster product development and speeds up bringing products to market, saving time and costs for innovating companies. Better simulations also help optimize products making them more energy efficient and sustainable.
“With the help of our technology, innovation and product development become more efficient, and products are brought to market faster. For example, simulating superconductors, that are crucial for fusion energy, MRI devices, and high-tech components, is extremely complex. With the existing solutions, it can take up to a month to run a superconductor simulation to provide feedback for product development. Quanscient can do this in a few hours ,” says Quanscient co-founder and CEO Juha Riippi.
The new funding of 3.9 million euros will be used to further product development and expansion. The funding round was led by Maki.vc, and it includes 446 000 euros of non-equity funding from Business Finland, including a quantum research grant and R&D loan.
“We are thrilled to be supporting the next stage of Quanscient’s journey,” says Ilkka Kivimäki, founding partner at Maki.vc. “Quanscient’s product delivers unforeseen runtime speed, scale, and accuracy for simulations. The product enables flexibility by allowing the users to combine any physics in a single simulation, providing unforeseen accuracy and usability when solving multiphysics problems. We were impressed by Quanscient’s strong team with experience in quantum computing, software, and research, and look forward to helping them scale the business further,” Kivimäki continues.
Read the full press release from their blog here: https://quanscient.com/blog/quanscient-raises-3.9-million-euros-to-accelerate-hardware-innovation-with-fast-simulations.