Information only, not investment advice. This page shows the steps the records of the portal hold for each company; it does not judge, rate or rank any company, and a missing step means only that the portal holds no record of it.
How European quantum companies in the portal moved from EU research grants to the EIC schemes and to equity. The page joins three sets the portal already holds: the CORDIS projects of Follow the money, the company rows of the investor view and the curated funding rounds, which name the EIC Fund and EIB records of the public investment registry. Every step of every company is cited.
Key figures
EU-funded quantum project in CORDIS
598 companies
EIC Pathfinder or EIC Transition project
54 companies
EIC Accelerator grant, or the EIC Fund named as investor
36 companies
Announced private funding round
17 companies
Journeys: first grant and first equity both recorded
17 companies
Median time from the first EU grant to the first equity round recorded in the portal
36 months (3.0 years), from 7 journeys whose grant came first and whose first recorded round is pre-seed, seed or Series A; 9 journeys starting at a later round are left out
Every stage counts only companies that also have an EU-funded quantum project (the first stage). The later stages are not nested in each other: a company can have an EIC Accelerator grant or a private round without an EIC Pathfinder or Transition project. The rounds file is not exhaustive, so the first round recorded may not be the company’s first equity; the median uses whole months.
Charts
Companies at each stage
Sources: CORDIS projects (Follow the money), the curated rounds file of the investor view.
Show the data
Companies at each stage
Item
Value (companies)
EU-funded quantum project in CORDIS
598 companies
EIC Pathfinder or EIC Transition project
54 companies
EIC Accelerator grant, or the EIC Fund named as investor
36 companies
Announced private funding round
17 companies
Time from the first EU grant to the first recorded equity round
Sources: CORDIS project start dates and the dated rounds of the rounds file.
Show the data
Time from the first EU grant to the first recorded equity round
Item
Value (companies)
Under 2 years
2 companies
2 to under 4 years
3 companies
4 to under 6 years
2 companies
6 years or more
0 companies
By technology family
Companies at each stage by technology family of their CORDIS projects; a company counts in each family it works in, and companies whose projects carry no family suggestion count in the totals only.
Technology family
EU-funded quantum project in CORDIS
EIC Pathfinder or EIC Transition project
EIC Accelerator grant, or the EIC Fund named as investor
Announced private funding round
Journeys
Median time to first equity (journeys)
Quantum computing and simulation
220
38
29
17
17
3.0 years (7)
Quantum communication
130
12
9
4
4
Fewer than 3
Quantum sensing and metrology
177
19
11
6
6
Fewer than 3
Enabling technologies and supply chain
49
15
16
11
11
2.3 years (4)
By country
Companies at each stage by the country of the company (the rounds file, or CORDIS).
Country
EU-funded quantum project in CORDIS
EIC Pathfinder or EIC Transition project
EIC Accelerator grant, or the EIC Fund named as investor
Announced private funding round
Journeys
Median time to first equity (journeys)
Germany
124
6
5
1
1
Fewer than 3
France
83
8
6
4
4
Fewer than 3
Italy
54
4
0
0
0
Fewer than 3
Netherlands
51
11
11
5
5
4.8 years (3)
Spain
48
2
3
2
2
Fewer than 3
United Kingdom
37
1
1
3
3
Fewer than 3
Greece
23
1
0
0
0
Fewer than 3
Austria
21
1
1
0
0
Fewer than 3
Switzerland
20
3
0
0
0
Fewer than 3
Finland
16
2
4
1
1
Fewer than 3
Poland
16
0
1
0
0
Fewer than 3
Denmark
15
2
2
1
1
Fewer than 3
Portugal
12
3
0
0
0
Fewer than 3
Belgium
9
1
0
0
0
Fewer than 3
Cyprus
9
1
0
0
0
Fewer than 3
Czechia
7
0
0
0
0
Fewer than 3
Sweden
6
2
0
0
0
Fewer than 3
Slovenia
6
0
0
0
0
Fewer than 3
Ireland
5
1
1
0
0
Fewer than 3
Lithuania
5
1
0
0
0
Fewer than 3
Bulgaria
4
0
0
0
0
Fewer than 3
Hungary
4
0
0
0
0
Fewer than 3
Luxembourg
4
1
0
0
0
Fewer than 3
Romania
4
1
1
0
0
Fewer than 3
Latvia
3
0
0
0
0
Fewer than 3
Norway
3
0
0
0
0
Fewer than 3
Türkiye
3
0
0
0
0
Fewer than 3
Estonia
2
0
0
0
0
Fewer than 3
Croatia
1
1
0
0
0
Fewer than 3
Malta
1
1
0
0
0
Fewer than 3
Slovakia
1
0
0
0
0
Fewer than 3
Ukraine
1
0
0
0
0
Fewer than 3
Journeys, step by step
Companies with a linked CORDIS project and an equity round in the rounds file, in alphabetical order. The steps are the records the portal holds, not the full history of the company.
Identity: Reviewed link of the rounds file to CORDIS entities.
First EU-funded quantum project
CatQubit, EIC Accelerator, blended finance (grant and EIC Fund investment component) (Horizon Europe), started 2022-01-01; EUR 2,500,000 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Accelerator project
CatQubit, EIC Accelerator, blended finance (grant and EIC Fund investment component) (Horizon Europe), started 2022-01-01; EUR 2,500,000 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First round with the EIC Fund among the investors
2025-01-28, Series B, EUR 100,000,000 (as announced: a fundraising of €100 million). Sources: Supernova Invest (read 2026-10-23; First body paragraph; paragraph beginning "All Series A investors")
First equity round recorded in the portal
2025-01-28, Series B, EUR 100,000,000 (as announced: a fundraising of €100 million). Sources: Supernova Invest (read 2026-10-23; First body paragraph; paragraph beginning "All Series A investors")
36 months (3.0 years) from the start of the first project to the first equity round recorded in the portal. That round is later than Series A, so earlier rounds are missing from the rounds file and the journey is left out of the median.
Identity: Reviewed link of the rounds file to CORDIS entities.
First EU-funded quantum project
Prometheus, SME Instrument or EIC pilot (Horizon 2020) (Horizon 2020), started 2020-08-01; EUR 2,497,250 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First round with the EIC Fund among the investors
2025-09-03, Series B, USD 320,000,000 (as announced: $320 Million (€275 Million) in venture capital). Sources: IQM Quantum Computers (read 2026-10-23; Dateline paragraph, Espoo, 3 September 2025; investor paragraph)
First equity round recorded in the portal
2025-09-03, Series B, USD 320,000,000 (as announced: $320 Million (€275 Million) in venture capital). Sources: IQM Quantum Computers (read 2026-10-23; Dateline paragraph, Espoo, 3 September 2025; investor paragraph)
61 months (5.1 years) from the start of the first project to the first equity round recorded in the portal. That round is later than Series A, so earlier rounds are missing from the rounds file and the journey is left out of the median.
Identity: Reviewed link of the rounds file to CORDIS entities.
First EU-funded quantum project
IGNITE, Collaborative research, innovation or coordination action (Horizon Europe), started 2022-07-01; EUR 4,996,815.75 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Accelerator project
SINGULARITY, EIC Accelerator, blended finance (grant and EIC Fund investment component) (Horizon Europe), started 2022-09-01; EUR 2,500,000 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First round with the EIC Fund among the investors
2024-03-05, Series A, EUR 25,000,000 (as announced: €25M (USD $27.1 million) oversubscribed investment round). Sources: Multiverse Computing (read 2026-10-23; Dateline paragraph, San Sebastián, 5 March 2024; paragraph beginning "The round was led by")
First equity round recorded in the portal
2024-03-05, Series A, EUR 25,000,000 (as announced: €25M (USD $27.1 million) oversubscribed investment round). Sources: Multiverse Computing (read 2026-10-23; Dateline paragraph, San Sebastián, 5 March 2024; paragraph beginning "The round was led by")
Identity: Reviewed link of the rounds file to CORDIS entities.
First EU-funded quantum project
MATQu, Collaborative research, innovation or coordination action (Horizon 2020), started 2021-06-01; EUR 6,548,524.39 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Pathfinder or Transition project
QuKiT, EIC Pathfinder (Horizon Europe), started 2023-07-01; EUR 4,749,963.75 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Accelerator project
HTQC-Diagnostics, EIC Accelerator, blended finance (grant and EIC Fund investment component) (Horizon Europe), started 2023-08-01; EUR 2,499,999 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First equity round recorded in the portal
2026-05-20, Seed, EUR 12,000,000 (as announced: an oversubscribed €12 million seed round). Sources: InnovationQuarter (read 2026-10-23; First body paragraph; paragraph beginning "The round was led by Icecat Capital")
Time between
59 months (4.9 years) from the start of the first project to the first equity round recorded in the portal.
Identity: Reviewed link of the rounds file to CORDIS entities.
First EU-funded quantum project
PASQuanS, Collaborative research, innovation or coordination action (Horizon 2020), started 2018-10-01; EUR 9,257,515 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Accelerator project
Qu&Co-Flow, EIC Accelerator, blended finance (grant and EIC Fund investment component) (Horizon Europe), started 2022-12-01; EUR 2,496,599 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First round with the EIC Fund among the investors
2023-01-24, Series B, EUR 100,000,000 (as announced: €100 million equity Series B raise). Sources: Quantonation (read 2026-10-23; Opening paragraph under Summary, Paris, 24 January 2023)
First equity round recorded in the portal
2023-01-24, Series B, EUR 100,000,000 (as announced: €100 million equity Series B raise). Sources: Quantonation (read 2026-10-23; Opening paragraph under Summary, Paris, 24 January 2023)
51 months (4.3 years) from the start of the first project to the first equity round recorded in the portal. That round is later than Series A, so earlier rounds are missing from the rounds file and the journey is left out of the median.
76 months (6.3 years) from the start of the first project to the first equity round recorded in the portal. That round is later than Series A, so earlier rounds are missing from the rounds file and the journey is left out of the median.
Identity: Reviewed link of the rounds file to CORDIS entities.
First EU-funded quantum project
QCFD, Collaborative research, innovation or coordination action (Horizon Europe), started 2022-11-01; EUR 4,935,143.25 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Accelerator project
RUBIQON, EIC Accelerator (grant only) (Horizon Europe), started 2026-10-01; EUR 2,497,281.50 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First equity round recorded in the portal
2024-07-08, Series A, EUR 50,000,000 (as announced: €50 million in Series-A venture-capital funding). Sources: Munich Quantum Valley (read 2026-10-23; Second body paragraph, beginning "As announced today")
Time between
20 months (1.7 years) from the start of the first project to the first equity round recorded in the portal.
Identity: Reviewed link of the rounds file to CORDIS entities.
First EU-funded quantum project
Qblox, SME Instrument or EIC pilot (Horizon 2020) (Horizon 2020), started 2021-03-01; EUR 2,481,937.50 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Pathfinder or Transition project
SCALLOP, EIC Transition (Horizon Europe), started 2023-09-01; EUR 2,499,998.75 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First round with the EIC Fund among the investors
2024-06-20, Series A, USD 26,000,000 (as announced: $26 million in investment). Sources: YES!Delft (read 2026-10-23; Lead paragraph)
First equity round recorded in the portal
2024-06-20, Series A, USD 26,000,000 (as announced: $26 million in investment). Sources: YES!Delft (read 2026-10-23; Lead paragraph)
Time between
39 months (3.3 years) from the start of the first project to the first equity round recorded in the portal.
72 months (6.0 years) from the start of the first project to the first equity round recorded in the portal. That round is later than Series A, so earlier rounds are missing from the rounds file and the journey is left out of the median.
Identity: Reviewed link of the rounds file to CORDIS entities.
First EU-funded quantum project
QModem, EIC Accelerator, blended finance (grant and EIC Fund investment component) (Horizon Europe), started 2022-07-01; EUR 2,500,000 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Pathfinder or Transition project
Superspin, EIC Pathfinder (Horizon Europe), started 2026-04-01; EUR 2,999,137.50 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Accelerator project
QModem, EIC Accelerator, blended finance (grant and EIC Fund investment component) (Horizon Europe), started 2022-07-01; EUR 2,500,000 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First round with the EIC Fund among the investors
2024-01-17, Equity round (no series named), EUR 8,000,000 (as announced: an €8 million funding round). Sources: TU Delft (read 2026-10-23; Opening summary and paragraph beginning "The round was led by QDNL Participations")
First equity round recorded in the portal
2024-01-17, Equity round (no series named), EUR 8,000,000 (as announced: an €8 million funding round). Sources: TU Delft (read 2026-10-23; Opening summary and paragraph beginning "The round was led by QDNL Participations")
18 months (1.5 years) from the start of the first project to the first equity round recorded in the portal. That round is later than Series A, so earlier rounds are missing from the rounds file and the journey is left out of the median.
Identity: Reviewed link of the rounds file to CORDIS entities.
First EU-funded quantum project
EQUALITY, SME Instrument or EIC pilot (Horizon 2020) (Horizon 2020), started 2018-05-01; EUR 50,000 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Pathfinder or Transition project
QUONDENSATE, EIC Pathfinder (Horizon Europe), started 2024-04-01; EUR 2,675,838.75 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Accelerator project
sepoqc, EIC Accelerator, blended finance (grant and EIC Fund investment component) (Horizon Europe), started 2023-01-01; EUR 2,499,000 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First round with the EIC Fund among the investors
2023-11-07, Equity round (no series named), at least EUR 50,000,000 (as announced: over €50 million from investors). Sources: Quandela (read 2026-10-23; Lead paragraph and dateline paragraph, Paris, 7 November 2023)
First equity round recorded in the portal
2023-11-07, Equity round (no series named), at least EUR 50,000,000 (as announced: over €50 million from investors). Sources: Quandela (read 2026-10-23; Lead paragraph and dateline paragraph, Paris, 7 November 2023)
66 months (5.5 years) from the start of the first project to the first equity round recorded in the portal. That round is later than Series A, so earlier rounds are missing from the rounds file and the journey is left out of the median.
Identity: Reviewed link of the rounds file to CORDIS entities.
First EU-funded quantum project
QLSI, Collaborative research, innovation or coordination action (Horizon 2020), started 2020-09-01; EUR 14,666,144.75 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First equity round recorded in the portal
2026-05-07, Series C, USD 160,000,000 (as announced: a $160 million Series C round). Sources: Quantum Motion (read 2026-10-23; Opening paragraph, London, 7 May 2026; paragraph beginning "Alongside the new investors")
Time between
68 months (5.7 years) from the start of the first project to the first equity round recorded in the portal. That round is later than Series A, so earlier rounds are missing from the rounds file and the journey is left out of the median.
Identity: Reviewed link of the rounds file to CORDIS entities.
First EU-funded quantum project
DEMOQC, EIC Accelerator, blended finance (grant and EIC Fund investment component) (Horizon Europe), started 2023-01-01; EUR 2,499,700 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Pathfinder or Transition project
FERROMON, EIC Pathfinder (Horizon Europe), started 2023-11-01; EUR 3,948,125 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Accelerator project
DEMOQC, EIC Accelerator, blended finance (grant and EIC Fund investment component) (Horizon Europe), started 2023-01-01; EUR 2,499,700 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First equity round recorded in the portal
2026-05-05, Series B, USD 178,000,000 (as announced: $178 million (€152 million) Series B equity funding). Sources: QuantWare (read 2026-10-23; Dateline paragraph, Delft, 5 May 2026; paragraph beginning "New investors joining the round include")
40 months (3.3 years) from the start of the first project to the first equity round recorded in the portal. That round is later than Series A, so earlier rounds are missing from the rounds file and the journey is left out of the median.
Identity: Reviewed link of the rounds file to CORDIS entities.
First EU-funded quantum project
PHOQUSING, Collaborative research, innovation or coordination action (Horizon 2020), started 2020-09-01; EUR 3,305,955 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Pathfinder or Transition project
QuGANTIC, EIC Pathfinder (Horizon Europe), started 2023-02-01; EUR 3,194,262.50 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Accelerator project
QUQUP, EIC Accelerator (grant only) (Horizon Europe), started 2024-11-01; EUR 2,470,125 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First round with the EIC Fund among the investors
2025-07-10, Series A, EUR 15,000,000 (as announced: secured €15 million in Series A funding). Sources: QuiX Quantum (read 2026-10-23; Opening paragraph, 10 July 2025)
First equity round recorded in the portal
2025-07-10, Series A, EUR 15,000,000 (as announced: secured €15 million in Series A funding). Sources: QuiX Quantum (read 2026-10-23; Opening paragraph, 10 July 2025)
Time between
58 months (4.8 years) from the start of the first project to the first equity round recorded in the portal.
Identity: Reviewed link of the rounds file to CORDIS entities.
First EU-funded quantum project
QuBriC, Marie Skłodowska-Curie action (Horizon Europe), started 2026-10-01; EUR 4,656,952.08 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
Identity: Reviewed link of the rounds file to CORDIS entities.
First EU-funded quantum project
QTOOL, EIC Accelerator, blended finance (grant and EIC Fund investment component) (Horizon Europe), started 2022-04-01; EUR 2,490,742.63 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First EIC Accelerator project
QTOOL, EIC Accelerator, blended finance (grant and EIC Fund investment component) (Horizon Europe), started 2022-04-01; EUR 2,490,742.63 (EU contribution (maximum grant agreed), the whole project). Source: CORDIS.
First round with the EIC Fund among the investors
2025-04-10, Series A, EUR 21,500,000 (as announced: 21.5 million Euro). Sources: EIFO (read 2026-10-23; Paragraph beginning "The investment round was led by PensionDanmark" and the paragraph before it)
First equity round recorded in the portal
2025-04-10, Series A, EUR 21,500,000 (as announced: 21.5 million Euro). Sources: EIFO (read 2026-10-23; Paragraph beginning "The investment round was led by PensionDanmark" and the paragraph before it)
Time between
36 months (3.0 years) from the start of the first project to the first equity round recorded in the portal.
Companies of the rounds file outside the figures
Nu Quantum (no reviewed link to a CORDIS entity)
Oxford Ionics (no reviewed link to a CORDIS entity)
Oxford Quantum Circuits (OQC) (no reviewed link to a CORDIS entity)
Quantum Brilliance (headquarters outside Europe in the rounds file: AU)
Possible matches awaiting an editor
Matches by name and country only. They are not used in any figure or journey until an editor confirms them by adding a reviewed link to the rounds file.
150 possible matches are awaiting an editor.
Method and limits
Companies are those of the investor view in European countries: private for-profit organisations in EU-funded quantum projects in CORDIS, plus the companies of the curated rounds file. Universities and research centres are left out, so a spin-off counts from its own first project, not from the research of its parent.
Grants are the Horizon 2020 and Horizon Europe projects whose title, acronym or topic names quantum, as imported from CORDIS; projects of a company outside that selection, and national grants, are not linked. The first grant is the project with the earliest start date.
EIC steps come from the CORDIS funding scheme and call only. The EIC Accelerator stage also counts a round of the rounds file in which the EIC Fund is named as investor.
The rounds file starts in 2023 and is not exhaustive (European quantum technology companies; 2023 to October 2026; not exhaustive.). The time to first equity is therefore the time to the first equity the portal records, which may be later than the first equity of the company.
Amounts are as the source states them, in its currency. Project amounts are the EU contribution to the whole project, not the share of the company. Nothing is converted or added, so no total is shown.
Identity links used: CORDIS participant id (PIC) of the company itself: 580 companies, 0 journeys; Reviewed link of the rounds file to CORDIS entities: 18 companies, 17 journeys; No link to CORDIS yet: 3 companies, 0 journeys. Rounds name 8 records of the public investment registry.
No figure is a judgement: companies take different routes, and many never seek equity.