Spain's full-stack quantum computing company Qilimanjaro Quantum Tech completes €19.6 million Series A first close

Qilimanjaro Quantum Tech, Spain’s only full-stack quantum computing company, has announced the first close of its Series A funding round at €19.6 million.

The round was led by Indra Group through IndraMind, its sovereign artificial intelligence initiative, with a €10 million investment. The Spanish Society for Technological Transformation (SETT), a public entity under Spain’s Ministry for Digital Transformation and Public Administration, also renewed its backing with a further €9.6 million investment.

“Quantum computing will mark a decisive leap in the evolution of artificial intelligence and its ability to solve highly complex problems. With this transaction, Indra Group strengthens its position in this strategic field, while IndraMind expands the capabilities it can use to develop sovereign, differentiated solutions for defence, security and industry,” said Ignacio Martínez, General Manager of IndraMind.

Qilimanjaro Quantum Tech was founded in Barcelona in 2019 as a spin-off of IFAE, BSC and the University of Barcelona by Dr. Pol Forn Díaz, Dr. Victor Canivell, Dr. José Ignacio Latorre, Jordi Blasco, and Dr. Artur Garcia Sáez. The company builds full-stack quantum computers, meaning it develops its own chips, software and algorithms and integrates cryogenics and control electronics into complete systems.