1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator, part of the European Innovation Council (EIC), is a vital funding initiative aimed at supporting small and medium-sized enterprises (SMEs) and startups in Europe, particularly those involved in deep tech innovations. This program provides substantial financial support to companies with high-risk, high-potential projects that can significantly impact their respective markets. The EIC Accelerator focuses on fostering groundbreaking advancements in technology and innovation, facilitating the transition of ideas from the lab to the marketplace.

Funding Structure

The EIC Accelerator offers a unique blended finance model, which incorporates both grants and equity investments to maximize financial support for innovative projects.

Purpose and Impact on the European Deep Tech Ecosystem

The EIC Accelerator plays a critical role in nurturing the European deep tech ecosystem by providing essential financial resources to innovative startups. It aims to bridge the funding gap faced by these companies, particularly in their early stages when conventional investors may be hesitant to commit.

By supporting high-risk projects, the EIC Accelerator encourages a culture of innovation and entrepreneurship, promoting technological advancements that can lead to significant economic growth. Furthermore, the program facilitates partnerships and collaborations between startups and established enterprises, enhancing knowledge transfer and fostering a dynamic innovation landscape.

Supporting Companies in Scaling and Securing Private Funding

The EIC Accelerator not only provides financial resources but also offers mentorship, access to networks, and strategic guidance. This support is pivotal for companies seeking to scale rapidly and attract additional funding from private investors. The EIC Accelerator’s backing often serves as a validation of the company’s potential, making it easier to secure follow-on investments. This ecosystem of support helps startups navigate challenges, refine their business models, and enhance their market readiness.

EIC Accelerator Winner: Quantum Transistors

Company Overview: Quantum Transistors, based in Israel, has emerged as a leading player in the field of quantum computing, focusing on the development of scalable quantum technologies.

Project Acronym: QUANTITATIVE

Project Description: The QUANTITATIVE project aims to develop a million-qubit quantum computer, featuring a highly scalable solid-state quantum computing platform with native optical networking capabilities. This ambitious project addresses the growing demand for advanced quantum computing solutions capable of solving complex problems that are currently intractable for classical computers.

Technology Basics and Background

Quantum Transistors leverages the principles of quantum mechanics to create qubits, the fundamental units of quantum information. Unlike classical bits, which can exist in one of two states (0 or 1), qubits can exist in superpositions of states, enabling quantum computers to perform multiple calculations simultaneously. This property is what gives quantum computers their superior processing power.

The QUANTITATIVE project centers on solid-state quantum computing technology, which utilizes semiconductor materials to create qubits. This approach offers advantages in terms of scalability, integration with existing electronic systems, and potential for mass production. The addition of native optical networking capabilities facilitates high-speed data transfer between qubits, enhancing the overall performance and efficiency of the quantum computer.

This project is positioned to revolutionize various industries, including pharmaceuticals, finance, and materials science, by enabling unprecedented computational power for complex simulations and optimization problems. The successful development of a million-qubit quantum computer could lead to groundbreaking advancements, solidifying Quantum Transistors’ role as a leader in the quantum computing arena.

In conclusion, the EIC Accelerator serves as a crucial catalyst for innovation in Europe, empowering startups like Quantum Transistors to push the boundaries of technology and drive economic growth through advanced solutions like the QUANTITATIVE project. The combination of grant and equity funding, along with comprehensive support, equips companies to navigate the challenges of scaling and securing private investment, ultimately enhancing the European deep tech ecosystem.

2 The Funding Rounds

Financing Raised

Quantum Transistors, an Israeli quantum computing startup, secured a significant financing package from the European Innovation Council (EIC) Accelerator in 2024. The total amount awarded is up to €17.5 million (approximately $19 million), structured as a combination of grant and equity funding. This represents one of the largest investments among the 68 companies selected out of 969 applications in that EIC Accelerator round.

Funding Rounds

EIC Accelerator Funding Round (2024):

Quantum Transistors received blended financing consisting of:

• An initial grant of €2.5 million ($2.72 million)
• A future equity investment commitment through the EIC Fund totaling €15 million ($16.3 million)

There are no publicly reported additional venture rounds or separate Series A/B/C rounds disclosed since this EIC award.

Timing and Amounts

• Date Awarded: July 2024
• Amount: Up to €17.5M ($19M)
• Grant: €2.5M (~$2.7M)
• Equity Commitment: up to €15M (~$16.3M)

This round was completed following Quantum Transistors’ successful application in March 2024 and subsequent selection after Step 3 interviews held by the EIC.

Investor Information

The key investor group for this funding round includes: - European Innovation Council (EIC)

EIC Fund (the equity investment arm)

No other external investors or venture capital firms have been officially identified as participants in this specific funding event as per available disclosures. However, typical with EIC Fund equity deals, there may be opportunities for co-investment alongside the public funding at later stages.

Additional Information Related to Funding Rounds

The award was part of a competitive process targeting high-risk, deep-tech startups within Europe and associated countries like Israel. The program's aim is both financial support and validation for breakthrough innovation—here focused on developing scalable quantum processor technology leveraging photonics for improved integration and reduced cooling requirements.

Quantum Transistors plans to use these funds primarily to scale research & development efforts, expand its engineering team, refine quantum transistor designs, ramp production capabilities, and foster strategic partnerships within tech ecosystems.

According to CEO Shmuel Bachinsky:

“This investment is not just about financial support but is a resounding validation of our vision and technology...We are trying to do for quantum computing what Intel’s 8086 did for classical computing — make it more accessible...”

Company Valuation

No explicit post-money valuation has been publicly disclosed linked directly with this funding round or previous ones; valuations tied specifically to EIC blended finance deals often remain confidential unless revealed during subsequent fundraising activities or IPO filings.

Exit Events: IPOs/Buyouts/Acquisitions

As of May 2025:

• There have been no reported exit events such as an Initial Public Offering (IPO), buyout, or acquisition involving Quantum Transistors.
• The company remains privately held with primary backing from public innovation funds.

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Sources

• Quantum Transistors Awarded Up to €17.5 Million by European Innovation Council
• Quantum Transistors secures funding from European Innovation Council
• EIC Accelerator 2024: Quantum Technology Start-Ups Secure Grants And Equity Funding For Innovative Solutions
• Quantum Transistors Receives €17.5M ($19M USD) from European Innovation Council To Develop Scalable Quantum Computing Technology
• Quantum Transistors gets $19M award to enable quantum computing on a chip – Entrée Capital
• Breaking Boundaries: Quantum Transistors Secures $17.5 Million in Funding For Future Innovation
• Quantum Transitors secures funding from European Innovation Council – DatacenterDynamics

3 The Press Releases

Quantum Transistors Secures €17.5M EIC Funding to Scale Photonic Quantum Computing Platform Israeli quantum computing startup Quantum Transistors has been awarded up to €17.5 million ($19 million) by the European Innovation Council (EIC) Accelerator, marking the largest investment in its latest funding round. The Tel Aviv-based company will receive a €2.5 million grant and a planned €15 million equity investment to advance its scalable quantum processor technology.

Technology and Roadmap
The company aims to develop a 1-million-qubit system using photonics, with an integrated quantum processor unit designed for deployment in standard data centers. Their approach leverages native photonic interconnects between qubits, reducing noise and eliminating the need for ultra-low-temperature refrigeration systems. Initial devices operate at 77 Kelvin (-196°C), significantly higher than most superconducting qubit technologies, with plans to achieve room-temperature operation in future iterations.

Shmuel Bachinsky, CEO and co-founder, emphasized their goal of making quantum computing as accessible as classical computing: “We’re leveraging semiconductor industry advancements to build scalable quantum technology... akin to Intel’s 8086 revolution”. The architecture focuses on optical networking between qubits, enabling high computational power while minimizing infrastructure costs compared to existing cryogenic-dependent systems.

Strategic Impact and Next Steps
The funding will accelerate R&D efforts and team expansion ahead of their next technical milestones. While specific partnerships remain undisclosed, their participation in the EIC Accelerator positions them within Europe’s growing quantum ecosystem alongside grantees like QuiX Quantum (Netherlands) and Welinq (France). No patents or social media updates were disclosed in available materials; however, their website (quantumtransistors.com) likely details proprietary advancements given the described photonic networking innovations.

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Sources

• Quantum Transistors Secures Funding from European Innovation Council
• Quantum Transistors Awarded €17.5M via EIC Accelerator
• EIC Backs Israeli Quantum Processor Development
• $19M Grant Targets On-Chip Quantum Computing

(Note: Press releases directly from quantumtransistors.com could not be verified via provided search results)

4 The Technology Advancements

Quantum Transistors' Post-EIC Funding Advancements in Quantum Computing

Following its July 2024 EIC Accelerator award of €17.5 million (comprising a €2.5M grant and €15M equity), Israel-based Quantum Transistors has intensified efforts to scale its quantum processor technology. While specific updates directly tied to the March 13, 2024 proposal submission date are not publicly detailed, the company’s post-funding trajectory emphasizes scalability, integration, and accessibility improvements.

Core Technological Focus

Quantum Transistors specializes in solid-state quantum processors using a unique architecture that combines native photonic interconnects and semiconductor-derived fabrication methods. Their approach minimizes inter-qubit noise by optically linking qubits across chips, enabling deployment in standard data centers without specialized cryogenic infrastructure. The EIC funding aims to accelerate R&D for a "million-qubit quantum computer", positioning their solution as a scalable alternative to current superconducting or trapped-ion systems.

Post-Funding Developments

• R&D Scaling: The company is expanding its team and refining chip designs to enhance qubit coherence times and error-correction capabilities.
• Strategic Positioning: By leveraging semiconductor-industry advancements, Quantum Transistors aims to reduce costs and simplify integration with classical computing infrastructure.
• Collaborative Ecosystem: Though direct customer pilots are not explicitly reported, their participation in EU-funded initiatives suggests engagement with industrial partners for practical validation.

Publicly Disclosed Milestones

While no new patents or peer-reviewed studies have been published since mid-2024, the company’s focus on hardware innovation aligns with broader industry challenges outlined in patenting trends for quantum technologies (e.g., qubit modalities and control systems). Their emphasis on photonic networking may position them favorably within Europe’s growing quantum communication sector, though specific collaborations remain undisclosed.

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Sources

• Israel's Quantum Transistors receives €17.5M from the European Innovation Council
• Quantum Transistors gets $19M award
• EIC Accelerator 2024: Quantum Technology Start-Ups Secure Grants

5 The Partnerships and Customers

Quantum Transistors Technology: Partnerships and Market Positioning Post-EIC Funding Quantum Transistors, an Israeli quantum computing firm awarded €17.5 million by the European Innovation Council (EIC) in July 2024, has not publicly disclosed specific customer or partner names in available reports. The company’s focus remains on scaling R&D and team expansion to advance its universal quantum processor technology.

Strategic Relationships and Market Impact

While explicit partnerships are unnamed, the EIC funding itself represents a strategic alliance with EU institutions, providing access to the council’s business networks and investors. Quantum Transistors emphasizes leveraging semiconductor industry innovations to deliver a scalable quantum processor that operates in standard data centers—a design that inherently positions it as a partner for cloud providers and enterprises seeking cost-effective quantum solutions.

Technology Advancements Through Collaboration

The EIC Accelerator’s financial backing enables deeper integration of photonic interconnects with solid-state qubits, critical for reducing inter-qubit noise and improving computational power. By aligning its roadmap with semiconductor manufacturing practices, Quantum Transistors aims to accelerate commercialization while attracting potential collaborators in chip fabrication and high-performance computing sectors.

Future Positioning

The company’s single-chip architecture targets industries like cryptography, drug discovery, and cybersecurity by offering practical deployment without specialized infrastructure. This approach could foster partnerships with data center operators or governments investing in national quantum initiatives.

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Sources

• Quantum Transistors Secures €17.5M from EIC to Scale Quantum Computing R&D
• Quantum Transistors Receives €17.5M from European Innovation Council
• Company Overview - Quantum Transistors

6 The Hiring and Company Growth

Quantum Transistors Team Growth and Hiring Strategy Post-EIC Accelerator Funding Quantum Transistors, an Israeli quantum chip developer focused on solid-state quantum processors, has maintained a specialized team structure to advance its scalable quantum computing architecture. As of October 2024, the company reported a team size of approximately 20 employees, prioritizing expertise in diamond-based spin qubits, silicon photonics, and CMOS control integration. While specific hiring announcements post-March 2024 EIC Accelerator funding are not publicly documented, the company emphasized plans to "triple or quadruple" headcount rapidly following validation of its first functional quantum chip.

Key Insights:

• Current Headcount: ~20 employees (as of late 2024), with emphasis on technical roles in qubit design and photonics integration.
• Growth Projections: Anticipated workforce expansion contingent on achieving operational milestones for its initial chipset.
• Strategic Hiring Focus: The company seeks engineers and physicists specializing in scalable quantum architectures, particularly those experienced in high-temperature qubit operation and error-correction protocols.

Future Scaling Implications:

The planned growth aligns with Quantum Transistors’ goal to transition from R&D to commercial production. New hires would likely focus on manufacturing scalability and system integration—critical steps for deploying its "8086-style" quantum processor blueprint. No management changes among co-founders (Shmuel Bachinsky as CEO; Dr. Moshe Tordjman as CTO) have been reported since the EIC award.

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Sources

• Team - Quantum Transistors
• Superposition Guy's Podcast --Shmuel Bachinsky
• Quantum Transistors - Startup Nation Finder

7 The Media Features and Publications

Overview of Quantum Transistors Technology

Quantum Transistors, located in Israel, is a quantum chip company that has been making significant strides in the quantum computing industry. The company specializes in developing solid-state quantum processors, aiming to transition quantum computing from large mainframes to more accessible data centers and enterprise servers.

Media Features and Publications

Quantum Transistors has been featured in several publications, particularly after receiving substantial funding from the European Innovation Council (EIC) in 2024. The company was awarded up to €17.5 million, marking one of the largest investments among the selected companies. This funding was covered by various outlets, highlighting Quantum Transistors' innovative approach to quantum computing. The company's technology combines advanced solid-state qubits with photonics to achieve high fidelity and scalability, making quantum computing more practical for widespread use.

Content from Publications

Publications have emphasized Quantum Transistors' mission to make quantum computing more accessible and practical. The company's CEO, Shmuel Bachinsky, noted that the investment from the EIC is not just financial support but also a validation of their technology and vision. Quantum Transistors aims to leverage decades of semiconductor industry investment to build scalable quantum technology, similar to how Intel's 8086 processor democratized classical computing.

Podcasts and Interviews

There is no publicly available information on specific podcasts or interviews conducted by the team of Quantum Transistors. However, given their recent funding and innovative work, they are likely participants in various industry discussions and conferences.

Conference and Fair Visits

While there is no specific information on Quantum Transistors' participation in conferences or fairs, their involvement in the quantum computing community suggests they are active in relevant events. The quantum computing sector frequently hosts conferences and seminars where companies like Quantum Transistors would likely share their advancements and insights.

Involvement in Events

Quantum Transistors' involvement in events is likely centered around quantum computing and technology forums. Their participation would focus on showcasing their innovative solid-state quantum processor technology and its potential to transform industries. Given their recent funding and technological advancements, they are poised to be significant contributors to the quantum community's events and discussions.

Sources

• Quantum Transistors
• Quantum Transistors - Startup Nation Finder
• Quantum Transistors › QBN
• Israel's Quantum Transistors receives €17.5M from the European Innovation Council
• Quantum Transistors - CB Insights