1 The EIC Accelerator Project
The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support small and medium-sized enterprises (SMEs), particularly those with high-impact innovations and deep-tech solutions. The program provides blended finance, combining grants and equity funding, to help companies scale their innovations and reach the market more effectively.Funding Overview
The EIC Accelerator offers a grant component of up to €2.5 million, aimed at covering the costs of research and development, prototype development, and market entry activities. Additionally, the equity funding component allows companies to secure up to €15 million until 2024 and up to €10 million starting in 2025. This blend of funding addresses the financial barriers faced by startups in the deep-tech sector, where high development costs and long timeframes to market can be significant hurdles.
Purpose of the EIC Accelerator
The EIC Accelerator plays a crucial role in the European deep-tech and startup ecosystem by fostering innovation and ensuring that groundbreaking ideas receive the necessary support to thrive. By providing substantial financial backing, the program enables companies to attract further investment from private sectors, which is often a critical factor in scaling operations. The EIC Accelerator also facilitates networking opportunities, mentorship, and access to expertise, enhancing the chances of success for participating companies.
Case Study: QuantrolOx Finland Oy and Project qx
QuantrolOx Finland Oy is a notable winner of the EIC Accelerator, having successfully submitted its Step 2 proposal on June 15, 2022, and later winning in the Step 3 interview stage. The project, known as qx, focuses on automating quantum control using machine learning.
Project Overview: qx
The qx project aims to revolutionize the field of quantum computing by developing algorithms that optimize quantum control processes. Quantum control is critical for the operation of quantum computers, where precise manipulation of quantum states is essential for performing computations. Traditional methods of quantum control can be complex, often requiring extensive manual input and expertise. The qx project seeks to leverage machine learning to automate and enhance these processes, making quantum computing more accessible and efficient.
Technology Background
Quantum computing fundamentally relies on the principles of quantum mechanics, leveraging the unique properties of qubits—quantum bits— to perform calculations that would be infeasible for classical computers. However, effective quantum computing requires precise control over these qubits, as they are extremely sensitive to their environment.
The qx project addresses this challenge by employing machine learning techniques to develop algorithms that can learn from data and improve the efficiency of quantum control systems. By automating the control processes, the project aims to reduce the time and expertise needed for quantum operations, thus democratizing access to quantum technologies.
QuantrolOx has positioned itself as a leader in the field, not only developing the necessary technology but also laying the groundwork for future advancements in quantum computing. With the support of the EIC Accelerator, the company is poised to make significant contributions to the quantum ecosystem, facilitating further research and development in this transformative field.
Conclusion
The EIC Accelerator program is instrumental in supporting innovative startups like QuantrolOx Finland Oy, providing them with the necessary funding and resources to scale their operations effectively. By focusing on deep-tech innovations, the EIC Accelerator not only enhances the European startup landscape but also fosters advancements in critical technological domains, such as quantum computing, which have the potential to reshape industries.
2 The Funding Rounds
QuantrolOx Finland Oy – Financing and Funding Overview Since EIC Accelerator Award (June 2022)
Financing Raised
QuantrolOx Finland Oy, a quantum technology software company specializing in machine learning-driven automation for quantum computer tuning, has raised significant funding since being selected as an EIC Accelerator winner in June 2022. The company secured up to €10.5 million from the European Innovation Council (EIC), comprising both grant and equity components.
Funding Rounds: Timing, Amounts, and Investors
- EIC Accelerator Funding (2022):
- Total potential amount: Up to €10.5 million
- €2.5 million as upfront grant
- Up to €8 million available via equity investment contingent on matching private capital.
- Structure: The equity portion is unlocked when QuantrolOx secures equivalent venture capital investments from other investors; the EIC will match these investments up to €8 million.
- Purpose: Supporting product launch efforts through 2023 and further commercial expansion.
- Seed Round (February 2022):
- Amount: £1.4 million (~€1.65 million at the time)
- Lead investors: Nielsen Ventures and Hoxton Ventures
- Other participants: Voima Ventures, Remus Capital, Hermann Hauser, Laurent Caraffa.
- Additional Seed Round Reports:
Investor Information
Key investors in QuantrolOx’s rounds since June 2022 include:
- European Innovation Council Fund (grant + matching equity)
- Nielsen Ventures
- Hoxton Ventures
- Voima Ventures
- Remus Capital
- Hermann Hauser (noted deeptech investor)
- Laurent Caraffa
- Trado Capital
- Founder's Edge
Several of these are leading names in early-stage deeptech venture capital across Europe.
Company Valuation
As of March 2023, Dealroom.co estimated QuantrolOx’s enterprise value between $16–23 million USD (€15–21 million). No reports were found regarding subsequent valuation increases or new series rounds that would provide an updated figure beyond early/mid–2023.
Exit Events – IPOs or Acquisitions
No exit events—such as IPOs, buyouts, or acquisitions—have been reported for QuantrolOx Finland Oy by May 1st, 2025. The company remains privately held with active product development focused on commercialization phases post-EIC funding injection.
Summary Table
| Date | Round | Amount | Investors/Notes |
|---|---|---|---|
| Feb/March ’22 | Seed | £1.4M (~€1.65M) | Nielsen Ventures (lead), Hoxton Ventures; others |
| Q3/Q4 ’22 | Seed/VC | ~€3.5M | Trado Capital & Founder's Edge |
| Post-June '22 | Grant | €2.5M | European Innovation Council |
| Post-June '22+ | Equity | up to €8M | EIC Fund – conditional on private VC co-investment |
Potential overlap exists between some reported seed rounds.
No public information currently indicates any change-of-control event such as acquisition or public listing for QuantrolOx Finland Oy by May 2025.
Sources
Reports: QuantrolOx Raises €10.5 Million From European Innovation Council QuantrolOx company information — Dealroom.co AIN — Finnish deeptech QuantrolOx receives seed round Top AI VC Funds in Finland — Shizune.co
3 The Press Releases
QuantrolOx Finland Oy: EIC Accelerator Funding and Post-Award Developments QuantrolOx Finland Oy, a quantum computing software developer, secured European Innovation Council (EIC) Accelerator funding in June 2022 under the "qx" project to advance its quantum autopilot technology. The company received up to €10.5 million in blended financing (€2.5 million upfront grant + €8 million equity upon matching private investments) to automate quantum control systems using machine learning.Core Technology and Milestones
- Quantum Autopilot: Their software continuously monitors and adjusts thousands of qubit parameters in microseconds, addressing the time-intensive calibration challenges of quantum computers.
- Funding Utilization: The capital supported product development ahead of its 2023 commercial launch, targeting accelerated qubit tuning and improved quantum computer uptime.
- Strategic Importance: Recognized by the EIC as critical for EU sovereignty in quantum computing, reflecting its potential to streamline R&D cycles for next-generation processors.
Team and Backing
Co-founded by Vishal Chatrath (CEO) and Andres Briggs (Executive Chair), QuantrolOx spun out of Oxford University with additional operations in Finland. Investors include Nielsen Ventures, Hoxton Ventures, Voima Ventures, and Hermann Hauser.
Sources
- QuantrolOx Finland Oy - EIC Project Overview
- EIC Accelerator June 2022 Winners List
- Funding Announcement via The Quantum Insider
Note: The provided Quantum Insider link appears truncated; verify the correct URL at The Quantum Insider. No press releases or blog posts from quantrolox.com were accessible via available data.
4 The Technology Advancements
QuantrolOx Advancements Post-2022 EIC Accelerator FundingSince securing €10.5 million from the European Innovation Council (EIC) in October 2022, QuantrolOx has demonstrated significant technological and commercial progress in automating quantum computing tune-up processes. Below are key advancements and milestones achieved by the company:
Technological Advancements
- Automated 2-Qubit Gate Tuning: Achieved fully automated characterization and tune-up of quantum processors, reducing the time to create a 2-qubit CZ gate to under 25 minutes—a task previously requiring PhD-level experts up to a week.
- Scalability: Enabled iterative development cycles for quantum processing units (QPUs) at a rate of "hundreds per year" compared to manual methods yielding only a handful.
- Compatibility: Quantum EDGE now supports open-architecture principles, integrating with 70% of solid-state quantum computers globally.
Commercial Demonstrations & Collaborations
- Anyon Technologies (October 2024): Integrated Quantum EDGE with Anyon’s superconducting QPUs and custom electronics, expanding architecture support for parametric gates.
- QuantWare & Qblox (March 2025): Joint offering combining QuantWare’s Contralto-A processor and Qblox control stacks with automated tune-up via Quantum EDGE.
Intellectual Property & Publications
No patents or peer-reviewed studies were explicitly cited in available materials. However:- The company emphasizes its role as the "only quantum software firm" testing its product on proprietary hardware 24/7, suggesting proprietary methodologies in automation algorithms.
- Technical details remain proprietary but are validated through collaborations with hardware providers like QuantWare and Anyon Technologies.
Summary of Post-Funding Trajectory
QuantrolOx has transitioned from proof-of-concept automation tools to enterprise-grade solutions capable of handling scalable QPU development workflows. The focus on error correction compatibility positions it as a critical enabler for next-generation fault-tolerant systems, while partnerships underscore industry-wide adoption of its technology stack.Sources Used:
- QuantrolOx Collaboration with Anyon Technologies | Automated Tune-Ups Announcement | QBN Member Profile |
- 25-Minute Gate Tuning Milestone [Jan 2025] |
- Error Correction Partnership Announcement |
Full URL List: All Citations
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5 The Partnerships and Customers
QuantrolOx Finland Oy's Strategic Partnerships and Market Positioning QuantrolOx Finland Oy, an Anglo-Finnish quantum software developer, has forged key collaborations to advance automated qubit control technologies. Since securing EIC Accelerator funding in mid-2022, the company has prioritized partnerships that enhance its QuantumEDGE software’s scalability and interoperability across quantum computing stacks.Key Partnerships and Collaborations
Market Positioning Through Partnerships
These relationships position QuantrolOx as a critical middleware provider in the quantum ecosystem:- Technology Agnosticism: By supporting multiple hardware vendors (e.g., QuantWare, Anyon), QuantumEDGE becomes a universal tuning layer for diverse qubit architectures.
- Scalability Focus: Partnerships like those with Qblox address calibration bottlenecks in multi-qubit systems, directly tackling one of the industry’s most persistent challenges.
- Cost Reduction: Bluefors Lab access minimizes capital expenditures while maintaining rapid iteration cycles—a crucial advantage for startups post-EIC funding.
Technological Advancements Enabled by Collaborations
Recent partnerships drive two innovations:These developments help QuantrolOX transition from single-qubit automation towards full-stack optimization capabilities required for fault-tolerant systems.
Sources
6 The Hiring and Company Growth
QuantrolOx Finland Oy: Team Growth and Development
Current Headcount and Team Size
QuantrolOx Finland Oy currently has a team size of 10-50 employees as of late 2024. This range indicates a relatively small but dynamic team, typical for companies in the early stages of development, especially in the quantum technology sector.Hiring and Team Growth
QuantrolOx is actively engaged in hiring and expanding its team. Although specific details about current hiring initiatives are not publicly available, the company's focus on developing innovative quantum control solutions suggests a need for specialized talent in fields like quantum software engineering and machine learning.Recent Hires and Key Positions
QuantrolOx has emphasized building a team with diverse expertise in quantum technology and software engineering. Key positions include:- Juho Lamminmäki, Senior Software Engineer, with a background in machine learning and software development.
- Anssi Collin, Technical Team Lead, who brings extensive experience in applying machine learning across various industries.
- Binh Tran, Lead Front-End Engineer, specializing in frontend development for multiple industries.
- Jacob Swain, Senior Machine Learning Engineer, with a focus on quantum information processing.
Future Impact and Scaling
The addition of these new team members signals QuantrolOx's commitment to advancing quantum computing technology. Their expertise will be crucial in scaling the company's Quantum EDGE software, which automates the tuning and optimization of superconducting quantum computers. This capability enables faster experimentation and simpler complex tasks, positioning QuantrolOx for growth in the rapidly evolving quantum computing industry.Management and Founding Team Updates
QuantrolOx is led by CEO Vishal Chatrath, who has been instrumental in guiding the company's strategic direction since receiving EIC Accelerator funding in June 2022. There are no publicly disclosed changes in the founding team or management structure since this funding round.Growth Since EIC Accelerator Funding
Since receiving the EIC Accelerator funding in June 2022, QuantrolOx has focused on developing and commercializing its Quantum EDGE software. This technology has the potential to significantly reduce the time required for qubit tuning and characterization, which is essential for advancing practical quantum computing applications. The company's growth strategy involves integrating with major quantum hardware providers, enhancing its market presence, and expanding its team with specialized talent to support these efforts.Sources
- The Team | QuantrolOx
- QuantrolOx: Homepage
- QuantrolOx Finland Oy
- Blog - Accelerating Quantum Futures - QuantrolOx
7 The Media Features and Publications
QuantrolOx Finland Oy: Media Presence and Public Engagement Post-EIC Accelerator Funding Since securing EIC Accelerator funding in mid-2022, QuantrolOx Finland Oy has actively expanded its visibility through media coverage, research publications, podcasts, and industry events. Below is a detailed overview of their public engagements:Media Features
QuantrolOx has been featured in technology-focused outlets highlighting its automation software for quantum computing:- Sifted.eu discussed the company’s £1.4m seed round in 2022 and its ambition to become the default control-layer software for quantum systems.
- The Quantum Insider covered the launch of Quantum EDGE, emphasizing its integration with Qblox’s control stack to accelerate qubit tuning.
Publications Mentioning QuantrolOx
While peer-reviewed publications primarily focus on the team’s technical work (e.g., machine learning for quantum device tuning), press releases dominate mentions of the company itself:- A February 2024 press release announced Quantum EDGE achieving over 100x speedup in qubit characterization tasks compared to manual methods.
- The October 2024 collaboration announcement with Anyon Technologies highlighted expanded QPU architecture support and joint hardware-software integration efforts.
Podcasts and Interviews
CEO Vishal Chatrath has participated in multiple interviews detailing QuantrolOx’s vision:- The Nordic Venture Show (April 2025) explored how automation addresses bottlenecks in quantum development, emphasizing real-time calibration capabilities.
- The Quantum Computing Report podcast provided insights into QuantrolOx’s machine learning approach, FPGA-level integration strategy, and scalability plans for multi-qubit systems.
Conference Participation & Events
QuantrolOx frequently collaborates with partners at industry forums:- In August–September 2023, joint demonstrations with Qblox were held at events like SQA Munich and IEEE Quantum Week Seattle to showcase integrated control solutions.
- Live demos at Bluefors Labs (QuTech/TU Delft) validated compatibility between Quantum EDGE and third-party hardware since 2022.
Sources Used (Markdown Links)
```markdown Sifted.eu Article • The Quantum Insider • Nordic Venture Podcast • Apple Podcast Episode • Quantum Computing Report Interview • Anyon Collaboration PR (Note: Correct URL likely `quantrolox.com – verify availability if broken) • 100x Speed Announcement ```Do you need EIC Accelerator support?
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