{ "title": "Lab to market: European quantum companies from EU grants to equity", "notice": "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.", "generated": "2026-11-03", "assembled": "2026-11-02", "method": { "population": "Companies of the investor view in European countries: private for-profit organisations (CORDIS activity type PRC) in EU-funded quantum projects, plus the companies of the curated rounds file.", "identity": "Grants are linked by the CORDIS participant id (PIC); a curated company is linked to its CORDIS entities only through a reviewed link of the rounds file, and a round to a public investment registry record only through the id the rounds file names. Name and country matches are candidates for an editor and never counted.", "stages": "Every stage counts only companies with an EU-funded quantum project; the later stages are not nested in each other.", "first_grant": "The earliest start date among the company’s CORDIS quantum projects.", "first_equity": "The earliest closed, completed or finalised equity round of the company in the rounds file (seed to series D, extensions, unnamed equity rounds, PIPE, EIC STEP Scale Up equity); convertible financing, venture debt, listings, acquisitions, targets and selections are not counted.", "amounts": "As stated by the source, in its currency; never converted or added.", "median": "Median whole months from the first EU grant to the first equity round recorded in the rounds file, for companies whose grant came first and whose first recorded round is pre-seed, seed or Series A (a later first round means earlier rounds are missing from the file); shown from 3 journeys." }, "summary": { "population": 601, "methods": { "pic": 580, "reviewed_link": 18, "none": 3 }, "journey_methods": { "pic": 0, "reviewed_link": 17, "none": 0 }, "registry_links": 8, "all": { "grant": 598, "eic_early": 54, "eic_accelerator": 36, "private_round": 17, "journeys": 17, "equity_first": 1, "later_round_first": 9, "median_n": 7, "median_months": 36 }, "by_family": { "computing": { "grant": 220, "eic_early": 38, "eic_accelerator": 29, "private_round": 17, "journeys": 17, "equity_first": 1, "later_round_first": 9, "median_n": 7, "median_months": 36 }, "communication": { "grant": 130, "eic_early": 12, "eic_accelerator": 9, "private_round": 4, "journeys": 4, "equity_first": 0, "later_round_first": 2, "median_n": 2, "median_months": null }, "sensing": { "grant": 177, "eic_early": 19, "eic_accelerator": 11, "private_round": 6, "journeys": 6, "equity_first": 0, "later_round_first": 5, "median_n": 1, "median_months": null }, "enabling": { "grant": 49, "eic_early": 15, "eic_accelerator": 16, "private_round": 11, "journeys": 11, "equity_first": 0, "later_round_first": 7, "median_n": 4, "median_months": 28 } }, "by_country": { "DE": { "grant": 124, "eic_early": 6, "eic_accelerator": 5, "private_round": 1, "journeys": 1, "equity_first": 0, "later_round_first": 0, "median_n": 1, "median_months": null }, "FR": { "grant": 83, "eic_early": 8, "eic_accelerator": 6, "private_round": 4, "journeys": 4, "equity_first": 0, "later_round_first": 3, "median_n": 1, "median_months": null }, "IT": { "grant": 54, "eic_early": 4, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "NL": { "grant": 51, "eic_early": 11, "eic_accelerator": 11, "private_round": 5, "journeys": 5, "equity_first": 0, "later_round_first": 2, "median_n": 3, "median_months": 58 }, "ES": { "grant": 48, "eic_early": 2, "eic_accelerator": 3, "private_round": 2, "journeys": 2, "equity_first": 0, "later_round_first": 1, "median_n": 1, "median_months": null }, "GB": { "grant": 37, "eic_early": 1, "eic_accelerator": 1, "private_round": 3, "journeys": 3, "equity_first": 1, "later_round_first": 2, "median_n": 0, "median_months": null }, "GR": { "grant": 23, "eic_early": 1, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "AT": { "grant": 21, "eic_early": 1, "eic_accelerator": 1, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "CH": { "grant": 20, "eic_early": 3, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "FI": { "grant": 16, "eic_early": 2, "eic_accelerator": 4, "private_round": 1, "journeys": 1, "equity_first": 0, "later_round_first": 1, "median_n": 0, "median_months": null }, "PL": { "grant": 16, "eic_early": 0, "eic_accelerator": 1, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "DK": { "grant": 15, "eic_early": 2, "eic_accelerator": 2, "private_round": 1, "journeys": 1, "equity_first": 0, "later_round_first": 0, "median_n": 1, "median_months": null }, "PT": { "grant": 12, "eic_early": 3, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "BE": { "grant": 9, "eic_early": 1, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "CY": { "grant": 9, "eic_early": 1, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "CZ": { "grant": 7, "eic_early": 0, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "SE": { "grant": 6, "eic_early": 2, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "SI": { "grant": 6, "eic_early": 0, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "IE": { "grant": 5, "eic_early": 1, "eic_accelerator": 1, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "LT": { "grant": 5, "eic_early": 1, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "BG": { "grant": 4, "eic_early": 0, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "HU": { "grant": 4, "eic_early": 0, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "LU": { "grant": 4, "eic_early": 1, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "RO": { "grant": 4, "eic_early": 1, "eic_accelerator": 1, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "LV": { "grant": 3, "eic_early": 0, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "NO": { "grant": 3, "eic_early": 0, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "TR": { "grant": 3, "eic_early": 0, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "EE": { "grant": 2, "eic_early": 0, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "HR": { "grant": 1, "eic_early": 1, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "MT": { "grant": 1, "eic_early": 1, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "SK": { "grant": 1, "eic_early": 0, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null }, "UA": { "grant": 1, "eic_early": 0, "eic_accelerator": 0, "private_round": 0, "journeys": 0, "equity_first": 0, "later_round_first": 0, "median_n": 0, "median_months": null } }, "no_grant": [ { "id": "nu-quantum", "name": "Nu Quantum" }, { "id": "oxford-ionics", "name": "Oxford Ionics" }, { "id": "oxford-quantum-circuits", "name": "Oxford Quantum Circuits (OQC)" } ], "not_linked": [ { "id": "nu-quantum", "name": "Nu Quantum" }, { "id": "oxford-ionics", "name": "Oxford Ionics" }, { "id": "oxford-quantum-circuits", "name": "Oxford Quantum Circuits (OQC)" } ], "outside": [ { "id": "quantum-brilliance", "name": "Quantum Brilliance", "country": "AU" } ], "bands": { "under_2": 2, "2_to_4": 3, "4_to_6": 2, "6_plus": 0 }, "window": { "first": "2023-01-24", "compiled": "2026-10-23", "scope": "European quantum technology companies; 2023 to October 2026; not exhaustive." } }, "journeys": [ { "id": "alice-bob", "name": "Alice & Bob", "country": "FR", "method": "reviewed_link", "pics": [ "891144142" ], "nid": 197, "families": [ "computing", "sensing", "enabling" ], "grants": 6, "first_grant": { "id": "cordis:190110172", "acronym": "CatQubit", "title": "Building universal quantum computers with self-correcting cat-qubit technology", "start": "2022-01-01", "programme": "Horizon Europe", "scheme": "HORIZON-EIC-ACC-BF", "kind": "eic_accelerator_bf", "amount": 2500000, "currency": "EUR", "measure": "EU contribution (maximum grant agreed)", "url": "https://cordis.europa.eu/project/id/190110172", "nid": 1686 }, "first_eic_early": null, "first_eic_accelerator": { "id": "cordis:190110172", "acronym": "CatQubit", "title": "Building universal quantum computers with self-correcting cat-qubit technology", "start": "2022-01-01", "programme": "Horizon Europe", "scheme": "HORIZON-EIC-ACC-BF", "kind": "eic_accelerator_bf", "amount": 2500000, "currency": "EUR", "measure": "EU contribution (maximum grant agreed)", "url": "https://cordis.europa.eu/project/id/190110172", "nid": 1686 }, "first_eic_fund": { "id": "alice-bob-2025-01-series-b", "date": "2025-01-28", "type": "series_b", "status": "closed", "amount": 100000000, "currency": "EUR", "amount_text": "a fundraising of €100 million", "qualifier": "exact", "eic": true, "sources": [ { "url": "https://supernovainvest.com/?p=3515", "publisher": "Supernova Invest", "kind": "investor", "retrieved": "2026-10-23", "locator": "First 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beginning \"All Series A investors\"" } ], "registry": [] }, "registry": [ { "id": "eic-step-alice-bob-2026", "name": "Alice & Bob selected for EIC STEP Scale Up investment", "stage": "selected", "date": "2026-04-27", "instrument": "Equity investment by the EIC Fund under the EIC STEP Scale Up scheme", "url": "https://eic.ec.europa.eu/news/eight-european-startups-set-receive-scale-funding-eic-under-step-scale-scheme-2026-04-27_en", "source_title": "EIC: eight European start-ups set to receive scale-up funding under STEP Scale Up (27 April 2026)", "source_url": "https://eic.ec.europa.eu/news/eight-european-startups-set-receive-scale-funding-eic-under-step-scale-scheme-2026-04-27_en" } ], "rounds": 3, "stages": { "grant": true, "eic_early": false, "eic_accelerator": true, "private_round": true }, "months": 36, "order": "grant_first", "median_eligible": false }, { "id": "iqm", "name": "IQM Quantum Computers", "country": "FI", "method": "reviewed_link", "pics": [ "898881541", "894285972" ], "nid": 162, "families": [ "computing", "sensing", "enabling" ], "grants": 10, "first_grant": { "id": "cordis:959521", "acronym": "Prometheus", "title": "Building the first 1,000-qubit quantum computer to restore Europe’s lead in the second quantum revolution", "start": "2020-08-01", "programme": "Horizon 2020", "scheme": "SME-2", "kind": "sme_instrument", "amount": 2497250, "currency": "EUR", "measure": "EU contribution (maximum grant agreed)", "url": "https://cordis.europa.eu/project/id/959521", "nid": 1046 }, "first_eic_early": null, "first_eic_accelerator": null, "first_eic_fund": { "id": "iqm-2025-09-series-b", "date": "2025-09-03", "type": "series_b", "status": "closed", "amount": 320000000, "currency": "USD", "amount_text": "$320 Million (€275 Million) in venture capital", "qualifier": "exact", "eic": true, "sources": [ { "url": "https://www.iqm.tech/?p=13736", "publisher": "IQM Quantum Computers", "kind": "company", "retrieved": "2026-10-23", "locator": "Dateline paragraph, Espoo, 3 September 2025; investor paragraph" } ], "registry": [] }, "first_equity": { "id": "iqm-2025-09-series-b", "date": "2025-09-03", "type": "series_b", "status": "closed", "amount": 320000000, "currency": "USD", "amount_text": "$320 Million (€275 Million) in venture capital", "qualifier": "exact", "eic": true, "sources": [ { "url": "https://www.iqm.tech/?p=13736", "publisher": "IQM Quantum Computers", "kind": "company", "retrieved": "2026-10-23", "locator": "Dateline paragraph, Espoo, 3 September 2025; investor paragraph" } ], "registry": [] }, "first_private": { "id": "iqm-2025-09-series-b", "date": "2025-09-03", "type": "series_b", "status": "closed", "amount": 320000000, "currency": "USD", "amount_text": "$320 Million (€275 Million) in venture capital", "qualifier": "exact", "eic": true, "sources": [ { "url": "https://www.iqm.tech/?p=13736", "publisher": "IQM Quantum Computers", "kind": "company", "retrieved": "2026-10-23", "locator": "Dateline paragraph, Espoo, 3 September 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"enabling" ], "grants": 4, "first_grant": { "id": "cordis:101069515", "acronym": "IGNITE", "title": "Integrated GermaNIum quanTum tEchnology", "start": "2022-07-01", "programme": "Horizon Europe", "scheme": "HORIZON-RIA", "kind": "collaborative", "amount": 4996815.75, "currency": "EUR", "measure": "EU contribution (maximum grant agreed)", "url": "https://cordis.europa.eu/project/id/101069515", "nid": 1134 }, "first_eic_early": null, "first_eic_accelerator": { "id": "cordis:190145380", "acronym": "SINGULARITY", "title": "SINGULARITY: The first quantum software toolbox for finance", "start": "2022-09-01", "programme": "Horizon Europe", "scheme": "HORIZON-EIC-ACC-BF", "kind": "eic_accelerator_bf", "amount": 2500000, "currency": "EUR", "measure": "EU contribution (maximum grant agreed)", "url": "https://cordis.europa.eu/project/id/190145380", "nid": 1692 }, "first_eic_fund": { "id": "multiverse-2024-03-series-a", "date": "2024-03-05", "type": "series_a", "status": "closed", "amount": 25000000, "currency": "EUR", "amount_text": "€25M (USD $27.1 million) oversubscribed investment round", "qualifier": "exact", "eic": true, "sources": [ { "url": "https://multiversecomputing.com/resources/multiverse-computing-raises-oversubscribed-eur25-million-series-a-investment-round-to-advance", "publisher": "Multiverse Computing", "kind": "company", "retrieved": "2026-10-23", "locator": "Dateline paragraph, San Sebastián, 5 March 2024; paragraph beginning \"The round was led by\"" } ], "registry": [] }, "first_equity": { "id": "multiverse-2024-03-series-a", "date": "2024-03-05", "type": "series_a", "status": "closed", "amount": 25000000, "currency": "EUR", "amount_text": "€25M (USD $27.1 million) oversubscribed investment round", "qualifier": "exact", "eic": true, "sources": [ { "url": "https://multiversecomputing.com/resources/multiverse-computing-raises-oversubscribed-eur25-million-series-a-investment-round-to-advance", "publisher": "Multiverse Computing", "kind": "company", "retrieved": "2026-10-23", "locator": "Dateline paragraph, San Sebastián, 5 March 2024; paragraph beginning \"The round was led by\"" } ], "registry": [] }, "first_private": { "id": "multiverse-2024-03-series-a", "date": "2024-03-05", "type": "series_a", "status": "closed", "amount": 25000000, "currency": "EUR", "amount_text": "€25M (USD $27.1 million) oversubscribed investment round", "qualifier": "exact", "eic": true, "sources": [ { "url": "https://multiversecomputing.com/resources/multiverse-computing-raises-oversubscribed-eur25-million-series-a-investment-round-to-advance", "publisher": "Multiverse Computing", "kind": "company", "retrieved": "2026-10-23", "locator": "Dateline paragraph, San Sebastián, 5 March 2024; paragraph beginning \"The round was led by\"" } ], "registry": [] }, "registry": [ { "id": "eic-step-multiverse-computing-2025", "name": "Multiverse Computing selected for EIC STEP Scale Up investment", "stage": "selected", "date": "2025-06-12", "instrument": "Equity investment by the EIC Fund under the EIC STEP Scale Up scheme", "url": "https://eic.ec.europa.eu/news/new-companies-put-forward-major-investments-under-eic-step-scale-scheme-2025-06-12_en", "source_title": "EIC: new companies put forward for major investments under EIC STEP Scale Up (12 June 2025)", "source_url": "https://eic.ec.europa.eu/news/new-companies-put-forward-major-investments-under-eic-step-scale-scheme-2025-06-12_en" } ], "rounds": 4, "stages": { "grant": true, "eic_early": false, "eic_accelerator": true, "private_round": true }, "months": 20, "order": "grant_first", "median_eligible": true }, { "id": "orange-quantum-systems", "name": "Orange Quantum Systems", "country": "NL", "method": "reviewed_link", "pics": [ "892924092", "871460514" ], "nid": 182, "families": [ "computing" ], "grants": 5, "first_grant": { "id": "cordis:101007322", "acronym": "MATQu", "title": "Materials for Quantum Computing", "start": "2021-06-01", "programme": "Horizon 2020", "scheme": "RIA", "kind": "collaborative", "amount": 6548524.39, "currency": "EUR", "measure": "EU contribution (maximum grant agreed)", "url": "https://cordis.europa.eu/project/id/101007322", "nid": 452 }, "first_eic_early": { "id": "cordis:101115315", "acronym": "QuKiT", "title": "Quantum bits with Kitaev Transmons", "start": "2023-07-01", "programme": "Horizon Europe", "scheme": "HORIZON-EIC", "kind": "eic_pathfinder", "amount": 4749963.75, "currency": "EUR", "measure": "EU contribution (maximum grant agreed)", "url": "https://cordis.europa.eu/project/id/101115315", "nid": 1272 }, "first_eic_accelerator": { "id": "cordis:190152156", "acronym": "HTQC-Diagnostics", "title": "High-Throughput Quantum Chip Diagnostics", "start": "2023-08-01", "programme": "Horizon Europe", "scheme": "HORIZON-EIC-ACC-BF", "kind": "eic_accelerator_bf", "amount": 2499999, "currency": "EUR", "measure": "EU contribution (maximum grant agreed)", "url": "https://cordis.europa.eu/project/id/190152156", "nid": 1694 }, "first_eic_fund": 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