Quanscient, a Tampere, Finland-based cloud-and-quantum-powered multiphysics simulation software provider, announced that it secured €3.9 million in a Seed funding round led by Maki.vc.
The round also includes €446K of non-equity funding from Business Finland, including a quantum research grant and R&D loan. The funds will be used to further accelerate its product development and expansion.
“With the help of our technology, innovation, and product development become more efficient, and products are brought to market faster. For example, simulating superconductors, which are crucial for fusion energy, MRI devices, and high-tech components, is extremely complex. With the existing solutions, it can take up to a month to run a superconductor simulation to provide feedback for product development. Quanscient can do this in a few hours,” says Quanscient co-founder and CEO Juha Riippi.
The company simulation technology reduces simulation time from weeks to just hours, enabling faster R&D and product-to-market for industrial companies in fusion energy, electric motors, and 5G technology.
Quanscient claims its cloud-based simulation technology enables faster product development and speeds up bringing products to market, saving time and costs for innovative companies.
Company: Quanscient Oy
Round: Seed Round
Funding Month: April 2023
Lead Investors: Maki.vc
Company Website: https://quanscient.com/
Software Category: Multiphysics Simulation Software
About the Company: Founded in 2021 by Juha Riippi, Asser Lähdemäki, Alexandre Halbach, and Valtteri Lahtinen, Quanscient is the first provider of cloud and quantum computing-powered multiphysics simulation technology. The platform offers fully digital R&D processes with its unique combination of native multiphysics algorithms, advanced cloud computing, and the prospect of future quantum integration. Besides cloud computing simulation, the company is building quantum computing algorithms to accelerate simulations even further. Currently, the company employs 18 people from seven nationalities. To date, 17 leading companies use Quanscient’s simulation technology in their research and product development.