The round is led by Danish VC Dreamcraft, together with
biotech investor Lundbeckfonden BioCapital and the private
investment company 2degrees.
COPENHAGEN, Denmark, July 3, 2024
/PRNewswire/ -- Kvantify, a leading quantum software start-up,
has announced the successful closure of a EUR 10 million seed round. This funding will
enable Kvantify to strengthen its position as a global leader in
quantum computing, with an initial focus on developing applications
for the life science sector.
The investment will accelerate the development of Kvantify's
innovative solutions that aim to leverage quantum computing to
address complex problems in drug discovery and beyond. It will also
boost the further development of quantum algorithms for chemical
simulation, expanding their applicability across various
industries.
The seed round is notable not only for its substantial size but
also for the strategic match of the new investors to Kvantify's
mission. It is led by Danish VC Dreamcraft, together with biotech
investor Lundbeckfonden BioCapital and the private investment
company 2degrees. Other notable investors include international
sector-focused tech investor Redstone VC, Danish lead quantum VC
2xN as well as EIFO.
Lundbeckfonden BioCapital is a large Danish investor focused on
local life science companies, supporting the translation and
commercialization of ground-breaking science. This is
Lundbeckfonden BioCapital's first investment outside the
therapeutics space.
"With our investment in Kvantify, we are broadening our
footprint in and commitment to further strengthening the Danish
life science ecosystem. Quantum computing can deliver accuracy and
derisking to the early stages of drug development to a level not
possible with classical computers, thereby enabling faster speed to
market. We are therefore excited about this opportunity and look
forward to working with the Kvantify team to bridge quantum
computing and drug development to the future benefit of patients,"
said Jacob Falck Hansen, Partner at
Lundbeckfonden BioCapital.
Danish VC Dreamcraft invests in tech-driven companies, from
pre-seed to series A, and has a proven track record with B2B SaaS
software.
"We're thrilled to partner with the team at Kvantify as they
take a significant step forward in their mission to fulfill the
promise of industrial applications of quantum computers. The
potential of quantum chemical computational drug discovery is
massive and represents a truly exciting beachhead market. We cannot
wait to see how Kvantify will help solve today's seemingly
impossible problems and serve as a crucial tool in designing the
solutions of the future." - Carsten
Salling, General Partner at Dreamcraft
Redstone QAI Quantum Fund is a highly specialized venture
capital fund that focuses on investing in groundbreaking
technologies within the quantum technologies sector.
"Kvantify's focus on applying quantum computing to life sciences
and further industrial use cases across various sectors aligns with
our strategic vision of advancing practical and impactful quantum
solutions. With their interdisciplinary team, in-depth knowledge of
quantum technology, and innovative approach to enhancing
computational efficiency, Kvantify is perfectly placed to bring
tremendous value to commercial markets." – Marco Stutz, Partner at Redstone.
In light of their successful product launch for a groundbreaking
drug discovery tool, Hans Henrik
Knudsen, CEO of Kvantify, comments:
"On behalf of the founding team, we are incredibly excited about
the completion of our €10 million seed round, which marks a
significant milestone for Kvantify. This funding not only validates
our vision of leveraging quantum computing to revolutionize the
life sciences industry but also provides us with the resources and
strategic partnerships needed to accelerate our development and
growth. With the support of new and existing investors, we are
well-positioned to continue to bring groundbreaking solutions to
market."
About Kvantify
Kvantify is a pioneering quantum
software company based in Denmark.
The company leverages quantum and high-performance computing to
create revolutionizing solutions for complex scientific and
industrial challenges. Kvantify's mission is to make quantum
computing technology widely accessible, and a valuable tool for
businesses worldwide. For more information, please visit
(www.kvantify.com).
Additional questions
Klaus
Eriksen, Communications Officer, Kvantify. Phone:
(+45) 61 699 700. Email: kle@kvantify.com
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