🇫🇮 SemiQon moves from startup to scale-up with €17.5 million from the EIC

SemiQon has secured a total of EUR 17.5M of funding in the form of EUR 2.5M of competitive, non-dilutive grant and additional EUR 15M of equity-based ear-marked funding.

The European Innovation Council and SMEs Executive Agency (EISMEA) granted funding to SemiQon’s Cool-CHIPS project following a rigorous 3-stage evaluation process done in an unprecedented speed within the EIC Accelerator program.

This new funding propels SemiQon’s growth through its cryogenic CMOS product-line.

“The strong customer demand for the cryo-CMOS will allow us to diversify our business to domains with faster commercial traction than quantum computing. This funding helps us to take our cryo-CMOS product from current TRL6 (Technical readiness level) to TRL8 within the next two years as we initiate product testing with our customers at their product environment,” SemiQon CEO Himadri Majumdar explains.

While SemiQon starts generating revenue through its cryogenic CMOS products in other markets, the company remains steadfast in its mission to build scalable, sustainable, and cost-effective quantum processors that will power the future of quantum computing.

Originally published on 17 February by SemiQon.

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