PRESS RELEASE — Groove Quantum today announced it has raised €16 million in combined funding and demonstrated an 18-qubit semiconductor spin-qubit processor, the largest of its kind ever built. The result marks a step beyond small-scale laboratory prototypes toward a quantum processor architecture designed for large-scale integration. The combined funding consists of €10 million in equity and €6 million in grants. The equity seed round is co-led by Innovation Industries, a leading European deep tech fund, and 55 North, the world’s largest pure-play quantum fund, with participation from Verve Ventures and the European Innovation Council Fund. Additional funding is provided by grants from the EIC Accelerator programme and JU Chips Act funding programme further underscores institutional confidence in Groove’s approach.

Groove will use the capital to scale qubit count exponentially and to begin manufacturing its processors at established semiconductor foundries.

Quantum computers create a fundamentally new way of computing. This opens the door to solving complex challenges that would take today’s most powerful supercomputers impractically long to address, like the discovery of new medicines, and the design of advanced materials for renewable energy – challenges that are highly important and have a profoundly positive impact on humanity.