Chip testing startup QuantumDiamonds raises €15M in equity funding
A German startup spun out of a famed Munich research university whose tech helps semiconductor firms test out products and find defects has raised €15m in equity funding. QuantumDiamonds has raised €91m in total. Artificial Intelligence Chip testing startup QuantumDiamonds raises €15M in equity funding QuantumDiamonds has raised €91m in total.
Key Takeaways
- The new equity funding in QuantumDiamonds complements a previously announced €76m in EU-backed state funding in the startup, making €91m in total.
The €15 million equity round was led by climatetech investor World Fund, a new investor.
- It comes from the German Federal Ministry for Economic Affairs and Energy and the Free State of Bavaria.
The move follows proposals for new EU laws to improve Europe's chip, cloud and AI offerings and be less reliant on US tech.
- Kevin Berghoff, CEO and co-founder of QuantumDiamonds, said: "This is a major step in bringing quantum sensing into fabs worldwide.
"The response from leading chipmakers has been clear: they see our technology as essential for solving yield challenges that today's systems can't address.
- The startup, which currently employs 70 people, plans to more than double its engineering team over the next 12 months, it says.
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Stats & Key Facts
- #The €15 million equity round was led by climatetech investor World Fund, a new investor.
- #The €76 million in state aid is in non-dilutive funding, which means the funders don't take equity.
- #" Founded in 2022, QuantumDiamonds says it will use the funding to scale its operations including its new testing facility.
QuantumDiamonds has raised €91m in total. Artificial Intelligence Chip testing startup QuantumDiamonds raises €15M in equity funding QuantumDiamonds has raised €91m in total. John Reynolds 1 hour ago Share Share Send email Copy link A German startup spun out of a famed Munich research university whose tech helps semiconductor firms test out products and find defects has raised €15m in equity funding.
The new equity funding in QuantumDiamonds complements a previously announced €76m in EU-backed state funding in the startup, making €91m in total. QuantumDiamonds, which was spun out of the Technical University of Munich (TUM), will use the funds to scale production of its technology. The €15 million equity round was led by climatetech investor World Fund, a new investor.
Other equity investors were German VC Bayern Kapital, alongside the startup's existing investors IQ Capital, Earlybird, First Momentum, UnternehmerTUM, Creator Fund, Onsight Ventures, and angel investors. The €76 million in state aid is in non-dilutive funding, which means the funders don't take equity. It comes from the German Federal Ministry for Economic Affairs and Energy and the Free State of Bavaria.
For more details please read the original article at Tech.eu.
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