Finnish deeptech company Quanscient, a leader in cloud-based multiphysics simulation technology and quantum algorithms, has secured €5.2 million growth funding. The round is led by Crowberry Capital, joined by Speen Holding, Maki.vc and First Fellow. The company has announced the news via a press release. 

About Quanscient 

Quanscient was founded in 2021 by Juha Riippi, Dr. Alexandre Halbach, Asser Lähdemäki and Dr. Valtteri Lahtinen.

  • The company has built the world's first Computer Aided Engineering (CAE) platform that seamlessly integrates a unique combination of cloud-native multiphysics solvers, advanced cloud computing, and future quantum integration. 

  • The platform offers engineers over a hundredfold increase in simulation throughput to enable fully digital R&D processes, empowering them to tackle more complex problems like fusion energy, 6G/7G, advanced semiconductors, biomedical, automotive, and aerospace.

  • In essence, Quanscient is working to revolutionize engineering simulations by leveraging quantum computing, making simulations vastly more powerful for industries requiring high-precision and high-speed digital tools.

"With our new funding, we'll continue to make breakthroughs in quantum algorithms. We're set to revolutionize simulations by integrating our pioneering quantum algorithms within the next few years, transforming the future of engineering and pushing the boundaries of what's possible,” Juha Riippi, co-founder and CEO of Quanscient, says.

Investment details

The €5.2 million growth funding round was led by the prominent Nordic early-stage VC firm Crowberry Capital and joined by Speen Holding with follow-on investments from Finnish early-stage venture capital investors Maki.vc and First Fellow.

  • Maki.vc is a Finnish seed-stage VC firm dedicated to partnering with founders who never conform to category standards.

Earlier this year, we had a conversation with Venla Väänänen, Marketing & Platform Manager at Maki.vc, discussing the fund’s activities and plans. You can read the full interview here.

  • First Fellow is a Finnish private investment firm run by Risto Siilasmaa and Kim Groop. Grounded in a deeply held set of values around entrepreneurship, trust, integrity and helping solve the world’s problems. 

According to the company, it will be releasing its first quantum product pilot in early 2025.