Qilimanjaro Quantum Tech Closes €19.6M to Scale Quantum Computers

The big picture: 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.

Why it matters:

• Sovereign Technology: The investment from Indra Group and SETT emphasizes Spain’s commitment to developing national technological autonomy in quantum computing, a strategic field for defense, security, and industry.
• AI Evolution: Quantum computing is poised to significantly advance artificial intelligence capabilities, enabling solutions for highly complex problems that are currently intractable with classical computing.
• Industrial Impact: Qilimanjaro’s technology is already deployed across critical sectors including energy, telecommunications, logistics, healthcare, and finance, demonstrating immediate industrial relevance and application.

How it works:

• Full-Stack Approach: Qilimanjaro develops its own quantum chips, software, and algorithms, integrating cryogenics and control electronics into complete, ready-to-use quantum systems.
• Advanced Qubit Architecture: The company’s technology utilizes superconducting fluxonium qubits, which are inherently more resilient to errors compared to conventional transmon-based qubits, enhancing computational reliability.
• Multimodal Processing: Qilimanjaro combines digital and analogue quantum processors with high-performance classical computing, a distinguishing approach that is already in production with three systems operating at the Barcelona Supercomputing Centre.

The catch: The quantum computing market remains nascent and highly competitive, with significant R&D investments from global tech giants and well-funded startups. While Qilimanjaro’s sovereign backing provides a strategic advantage in Spain, scaling industrial deployment and achieving quantum advantage for a broad range of commercial problems will require sustained innovation and capital in a rapidly evolving technological landscape.

Key Facts

• Company: Qilimanjaro Quantum Tech
• Amount: €19.6M
• Round: Series A
• Investors: Indra Group (lead), Spanish Society for Technological Transformation (SETT)
• Founders: Dr. Pol Forn Díaz, Dr. Victor Canivell, Dr. José Ignacio Latorre, Jordi Blasco, Dr. Artur Garcia Sáez
• Announced: 2026-10-01
• Sector: Quantum Computing
• Headquarters: Barcelona, Spain