SemiQon Secures €17.5m for Ultra-Cold Quantum Electronics

SemiQon, a Finland-based company specializing in cryogenic electronics for quantum systems, has recently announced a significant milestone in its funding journey. The company has secured €15 million in equity funding from the EIC Accelerator, in addition to a €2.5 million grant earmarked for its innovative technology.

This latest funding round comes on the heels of a previous investment of €3.5 million in January, which was part of the EQUSPACE initiative. EQUSPACE is a research consortium focused on advancing silicon-based quantum information systems utilizing acoustic spin qubits.

The newly acquired funds will be instrumental in expanding SemiQon's cryogenic CMOS product line. The European Innovation Council and SMEs Executive Agency (EISMEA) played a key role in granting funding to SemiQon's Cool-CHIPS project, following a rigorous 3-stage evaluation process within the EIC Accelerator program.

"The strong demand for our cryo-CMOS technology presents an opportunity for us to diversify into sectors with quicker commercial adoption rates than quantum computing. This funding will enable us to elevate our cryo-CMOS product from its current Technical Readiness Level (TRL) of 6 to TRL 8 over the next two years, as we commence product testing in collaboration with our customers," stated Himadri Majumdar, CEO of SemiQon, a spin-off from VTT.

Looking ahead, SemiQon is poised to generate revenue through its cryogenic CMOS offerings in various markets, while concurrently developing support electronics for scalable, sustainable, and cost-effective quantum processors in the realm of quantum computing.