1 The EIC Accelerator Project

The EIC Accelerator program, part of the European Innovation Council (EIC), is a funding initiative designed to support small and medium-sized enterprises (SMEs) and deep-tech startups in Europe. This program aims to foster innovation by providing financial assistance and strategic support to help companies bring groundbreaking technologies and services to market. The EIC Accelerator offers a unique combination of grant funding and equity investment, enabling firms to develop and scale their innovative solutions effectively.

Funding Structure

The EIC Accelerator provides funding through a blended finance model, which combines grant funding with equity investment. The grant component can go up to €2.5 million, aimed at supporting early-stage projects that require initial capital to reach critical milestones. This non-repayable grant can cover various costs, including research and development, prototyping, and market entry efforts.

In addition, the program offers equity investment, which can reach up to €15 million until 2024. From 2025 onward, this equity funding will be capped at €10 million. This investment is aimed at helping companies scale their operations, expand into new markets, and attract additional private funding. By providing both grant and equity financing, the EIC Accelerator plays a pivotal role in bridging the funding gap that many innovative startups face, particularly in the deep-tech sector.

Purpose in the DeepTech Ecosystem

The EIC Accelerator is vital in enhancing the European deep-tech and startup ecosystem. By focusing on high-risk, high-reward innovations, the program encourages companies to pursue ambitious projects that may otherwise struggle to secure funding from traditional venture capital sources. The EIC's streamlined application process and tailored support foster an environment conducive to innovation, enabling companies to develop disruptive technologies that can have significant societal and economic impacts.

Moreover, the EIC Accelerator not only provides financial resources but also offers strategic guidance, networking opportunities, and access to a broad range of expertise. This holistic support helps companies to refine their business models, scale efficiently, and ultimately succeed in the competitive global market.

QphoX and the QModem Project

QphoX, a Netherlands-based company, is a recipient of EIC Accelerator funding for its ambitious project, QModem. The QModem project aims to develop the world’s first quantum modem, an innovative technology that promises to revolutionize data transmission by leveraging the principles of quantum mechanics. This project represents a significant step forward in quantum communications, a field that has garnered substantial attention due to its potential to enhance security and efficiency in data transfer.

Technology Basics and Background

Quantum modems are designed to enable quantum communication by converting quantum information into classical signals and vice versa. The QModem technology utilizes quantum bits, or qubits, which can exist in multiple states simultaneously, a property known as superposition. This allows for the transmission of data at speeds and security levels unattainable by classical communication methods.

The development of a quantum modem involves intricate engineering challenges, including the creation of stable qubits, minimizing decoherence, and ensuring reliable transmission over distances. QphoX's approach focuses on integrating advanced photonic technologies and quantum algorithms to create a scalable, robust solution that can be implemented in real-world applications.

The QModem project is not just a technical endeavor; it has the potential to impact various sectors, including telecommunications, cybersecurity, and data infrastructure. By enabling ultra-secure data transmission and facilitating the development of quantum networks, QphoX aims to position itself at the forefront of the emerging quantum technology market.

In conclusion, the EIC Accelerator program serves as a crucial component in supporting innovative companies like QphoX. With its blended financing model, the program enables firms to undertake ambitious projects such as QModem, ultimately contributing to the advancement of the European deep-tech ecosystem and the broader global technology landscape.

2 The Funding Rounds

Overview of QphoX's Financing and Funding Rounds

QphoX, a Dutch quantum computing company, has been actively raising funds to support its innovative quantum modem technology. This technology is crucial for enabling quantum computers to communicate over optical networks, paving the way for the development of a quantum internet.

Financing Raised

QphoX has secured significant financing through various funding rounds. Notably, in January 2024, the company raised €8 million in a funding round led by QDNL Participations, with participation from the EIC Fund, Quantonation, Speedinvest, High-Tech Gründerfonds, and Delft Enterprises. This round marked the largest investment in a quantum company in the Netherlands at the time.

Funding Rounds

QphoX's funding journey includes multiple rounds:

Seed Funding (May 2021): Initially, QphoX raised €2 million to support its early-stage development of quantum modem technology.
Incubator/Accelerator Funding (July 2022): The company received additional funding through an incubator/accelerator round.
EIC Accelerator Grant (2022): QphoX received a €6.5 million grant from the European Innovation Council (EIC) Accelerator, which significantly supported the development of its technology.
Series A Funding (January 2024): The latest €8 million funding round was pivotal for commercializing its quantum modem technology and enhancing its market presence.

Timing and Amount of Funding Rounds

May 2021: €2 million seed funding.
July 2022: Incubator/Accelerator funding (exact amount not specified).
2022: €6.5 million EIC Accelerator grant.
January 2024: €8 million Series A funding.

Investor Information

Key investors in QphoX include: - QDNL Participations

EIC Fund
Quantonation
Speedinvest
High-Tech Gründerfonds
Delft Enterprises

Information Related to Funding Rounds

The funds raised by QphoX are primarily used to develop and commercialize its quantum modem technology, which is essential for interconnecting quantum computers over optical networks, thereby facilitating the creation of a quantum internet.

Company Valuations

As of January 2024, QphoX's enterprise valuation was estimated to be between $35 million and $53 million by Dealroom.co.

Funding or Exit Events

To date, QphoX's primary focus has been on securing funding to drive its technological advancements and market expansion. There are no reported exit events for the company.

Sources: - QphoX Raises €8 Million to Build Towards Quantum Internet

3 The Press Releases

QphoX Advances Quantum Networking Through Strategic Partnerships and Optical Transduction Breakthroughs Since receiving EIC Accelerator funding in October 2021, Dutch quantum transduction company QphoX has solidified its position as a leader in quantum networking solutions. Specializing in microwave-to-optical conversion technology, the company enables scalable quantum computing by bridging superconducting qubits with optical networks. Below are key developments from press releases and partnerships:

1. Optical Readout of Superconducting Qubits (2025)

QphoX collaborated with Rigetti Computing and Qblox to demonstrate optical readout techniques for superconducting qubits, published in Nature Physics. The breakthrough addresses scalability bottlenecks by replacing traditional microwave-based readout with optical transducers, reducing interference and enabling efficient cryogenic integration. This work underscores their focus on industrial-scale quantum computing.

2. Welinq Partnership for Quantum Interconnects (2025)

In February 2025, QphoX partnered with Welinq to develop optical interconnects for linking superconducting quantum processors into clusters. The collaboration combines:

Welinq’s expertise in entanglement generation and synchronization using quantum memories.
QphoX’s transduction systems, which convert signals between microwave and optical domains.

This synergy aims to enable modular scaling while mitigating challenges like qubit interference and cryogenic limitations.

3. Earlier Collaborations: IQM & QuantWare

IQM Quantum Computers (2022): QphoX worked with IQM to develop interfaces for superconducting processors using optical interconnects, targeting reduced heat load and simplified cabling for systems beyond 1,000 qubits.
QuantWare (2022): Partnered to create frequency converters compatible with superconducting processors, emphasizing network-ready hardware development at Delft’s House of Quantum facility.

Technology Impact

QphoX’s Quantum Modem™ facilitates distributed computing by converting signals across frequencies critical for linking disparate quantum systems (e.g., superconducting qubits to photonic networks). Their approach aligns with EU initiatives like the Quantum Internet Alliance, reinforcing Europe’s leadership in modular architectures.

Sources Cited: Relevant Press Releases & Announcements

Research from QphoX, Rigetti & Qblox Published in Nature Physics [Feb 11, 2025] | GlobeNewswire [Feb 11, 2025] | Nature Physics Paper [Feb 11, 2025]
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All Source URLs: Formatting Adjusted per Guidelines

<div class="bullet-item"><span class="bullet-point">•</span> Research from QphoX... Published in Nature Physics - https://www.qblox.com/newsroom/qphox...qubits</div>
<div class="bullet-item"><span class="bullet-point">•</span> Welinq-QphoX Partnership Announcement - https://qphox.eu/?post_type=news&p=1869</div>
<div class="bullet-item"><span class="bullet-point">•</span> TechEU Coverage of Welinq-QphoX - https://tech.eu/2025/02/26/welinq-and-qp...</div>
<div class="bullet-item"><span class="bullet-point">•</span> The Quantum Insider Report - https://thequantuminsider.com/...welinq...</div>
<div class="bullet-item"><span class="bullet-point">•</span> IQM-QhpoX Collaboration - https://www.meetiqm.com/newsroom/press-r...</div>
<div class="bullet-item"><span class="bullet-point">•</span> Quantware Partnership Details - https://www.quantware.com/press/qphox-pa...</div>

4 The Technology Advancements

QphoX's Post-EIC Accelerator Progress in Quantum Networking Since receiving EIC Accelerator funding in October 2021, QphoX has advanced its quantum modem technology, focusing on bridging microwave and optical domains for scalable quantum computing and internet infrastructure. Below are their key developments:

1. Core Technology Advancements

Quantum Transduction Breakthroughs: QphoX's hardware enables bidirectional conversion of quantum information between microwave (used by superconducting qubits) and optical frequencies (suitable for long-distance networking). This addresses a critical bottleneck in linking modular quantum systems.
Optical-Frequency Readout: In October 2023, the company demonstrated optical readout of superconducting qubits—a milestone for non-destructive measurement and control of qubit states over fiber-optic networks.
Performance Validation: Peer-reviewed research published in Nature Nanotechnology detailed their world-leading transducer efficiency, establishing QphoX as a frontrunner in quantum transduction hardware.

2. Commercialization Efforts

Pilot Projects: QphoX has initiated pilot projects with undisclosed customers and partners to integrate its modems into commercial systems. The €8 million raised in January 2024 will accelerate product development for these deployments.
Collaborative Demonstrations: A February 2025 Nature Physics publication showcased a joint experiment with Rigetti Computing and Qblox, where QphoX’s transducer successfully measured superconducting qubit states optically—proving compatibility with existing quantum hardware.

3. Research & Intellectual Property

Peer-Reviewed Publications: Beyond the Nature studies, collaborative research emphasizes scalability advantages of their transduction approach for multi-qubit systems. No explicit mention of new patents was found post-2021 funding.

Strategic Outlook

QphoX aims to position its modems as the backbone for distributed quantum computing clusters within data centers, addressing scalability limitations faced by standalone quantum processors§§10. The EIC Fund’s follow-on investment underscores confidence in their roadmap toward a functional quantum internet.

Sources Used:

5 The Partnerships and Customers

QphoX, a Dutch quantum computing company based in Delft and an EIC Accelerator winner since October 2021, has established several significant partnerships and customer relationships that strategically position it in the quantum technology market and advance its technological capabilities.

Key Partnerships and Customers

QuantWare: Since May 2022, QphoX has partnered with QuantWare, a leading superconducting quantum processor provider. Their collaboration focuses on developing a networked quantum processor interface that connects superconducting processors via optical links. This partnership aims to create scalable, photonically linked quantum processors—a crucial step toward hardware for network-ready quantum computers. The companies also share proximity in the House of Quantum facility in Delft to accelerate joint development.
IQM Quantum Computers: In August 2022, QphoX partnered with IQM Quantum Computers to develop an optical interface for scaling superconducting quantum processors. This collaboration supports QphoX’s mission of enabling larger-scale quantum computing systems through optical networking.
Welinq: A recent partnership announced February 25, 2025, between QphoX and Welinq focuses on creating seamless optical connections between superconducting quantum processors for scalable cluster-based computing systems. This alliance combines QphoX’s microwave-to-optical transduction technology with Welinq’s advanced interconnection solutions to enable modular scaling of different qubit modalities efficiently. The partnership strengthens Europe’s leadership position in modular quantum computing technologies while supporting EU initiatives like the Quantum Internet Alliance.
Customers (implied): While specific new customers are not named explicitly beyond partners such as IQM and Rigetti Computing mentioned in context with these collaborations, ongoing pilot projects are underway that leverage QphoX's technologies integrated into commercial systems. These pilot engagements indicate active customer relationships aimed at practical deployment.

Nature and Purpose of New Relationships

The nature of these partnerships is highly collaborative R&D focused on:

Developing interfaces and hardware (quantum modems) that connect disparate types of qubits—particularly linking microwave-based superconducting qubits to optical networks.
Enabling scalable architectures by networking smaller processing units into larger clusters or data center-scale systems.
Accelerating maturity from laboratory research prototypes toward industrial-level products ready for integration into commercial environments.

These collaborations aim specifically at overcoming key challenges limiting the scalability of current monolithic superconducting qubit devices by using photonic interconnects as a scalable communication layer across multiple processors.

Market Positioning Impact

The partnerships place QphoX at the forefront of:

Enabling networked or modular quantum computers rather than isolated single-chip devices.
Providing essential hardware components—the "quantum modem"—that will become foundational infrastructure for future large-scale data centers hosting interconnected multi-QPU systems.
Aligning strongly with European strategic goals around building a competitive ecosystem for next-generation modular/scalable quantum technologies supported by EU funding bodies such as EIC Accelerator programs.

This positions QphoX not merely as a component supplier but as an enabler shaping how large-scale practical universal quantum computers will be constructed globally.

Advancement in Technology & Scaling Support

These relationships bolster technological advancement by:

Combining complementary expertise (e.g., QuantWare’s processor tech; Welinq's link system) allowing fast iteration cycles due to shared facilities like House of Quantum.
Facilitating cross-modality transduction innovations essential for linking heterogeneous qubit platforms optically.
Accelerating product development timelines through increased funding (€8 million raised including from EIC Fund) supporting prototype-to-commercial transitions.
Driving standardization efforts around interoperable components needed across different vendors’ hardware platforms enhancing overall scalability potential.

In summary, since receiving EIC Accelerator funding in late 2021, QphoX has actively built strategic partnerships primarily with QuantWare, IQM Quantum Computers, Welinq among others. These alliances focus on developing interoperable optical interfaces critical for scaling up modular superconducting-based quantum computers. By advancing both technology readiness levels and market adoption readiness simultaneously via pilot projects alongside these partners/customers—and backed financially by major investments—QphoX is effectively positioning itself as a key enabler within Europe's growing ecosystem aiming toward commercially viable large scale networked universal quantum computing infrastructure.

Sources

• QphoX partnership with QuantWare

• Welinq & QphoX Partnership

• IQM & QphoX Partnership

• QphoX €8m Funding Round

• Largest Investment Dutch Quantum Company

• Welinq-QPhoax detailed press release

• Canvas Business Model - Brief History & Strategy Overview

• Quantum Computing Report - Welinq/QPhoax Collaboration Details

6 The Hiring and Company Growth

QphoX, a Dutch quantum technology startup founded in 2021 and based in Delft, Netherlands, has experienced notable team growth and is actively expanding its workforce as it scales its operations to commercialize its quantum modem technology.

Current Team Size and Headcount

As of early 2024, QphoX’s team size is estimated between 11 to 50 employees. This range reflects a small but growing specialized technical team typical for a deep-tech quantum hardware startup.

Hiring Activity

QphoX is currently hiring; recent job postings include internships within their engineering team focused on developing the quantum modem. The company seeks candidates with scientific skills, experience in CAD software (e.g., Autodesk Inventor or Fusion360), 3D printing knowledge, and some electrical engineering background.

Growth Since EIC Accelerator Funding

After receiving EIC Accelerator funding following their October 6, 2021 submission date and winning at Step 3 interview stage, QphoX raised an €8 million investment round in late 2023 — the largest for a Dutch quantum company to date — backed by investors including the EIC Fund itself. This capital boost supports bringing their demonstrated proof-of-concept optical-frequency superconducting qubit readout technology into commercial production.
The funding round marked significant growth both financially (total raised $11.11M) and organizationally as they transition from R&D phase towards market launch.

Key Recent Hires or Positions

Specific key positions recently hired are not publicly detailed; however, the emphasis on expanding the engineering team with interns suggests investment into strengthening experimental physics capabilities and prototyping expertise critical for product development stages.

Implications of New Team Members

New hires—particularly engineers skilled in rapid prototyping, CAD design, electrical systems integration—are vital for scaling up manufacturing capabilities of their core transduction hardware.
Expanding technical capacity helps QphoX accelerate commercialization timelines while maintaining high performance levels necessary to interconnect modular quantum computers via optical channels—a breakthrough capability CEO Simon Groeblacher highlights as unique to them today.

Management Changes

There are no publicly reported major changes in management or founding members since receiving EIC funding. The company remains led by co-founder & CEO Simon Groeblacher who continues steering strategic vision toward building global leadership in quantum network hardware.

In summary, since obtaining EIC Accelerator support in late 2021, QphoX has grown from an early-stage deep-tech startup into a venture-backed scale-up expanding its specialized engineering workforce. Their current hiring efforts focus on bolstering hands-on prototyping expertise essential for translating advanced lab demonstrations into scalable commercial products that connect future quantum computers globally via optical networks.

Sources:

7 The Media Features and Publications

QphoX, a Dutch quantum technology startup awarded the EIC Accelerator funding in October 2021, has gained notable attention in media features, scientific publications, conferences, and through its involvement in quantum technology events.

Media Features and Publications

In February 2025, QphoX was prominently featured alongside Rigetti Computing and Qblox for their joint research published in Nature Physics. This publication detailed a breakthrough demonstrating optical readout of superconducting qubits using an optical transducer developed by QphoX's piezo-optomechanical technology. This work addresses major scalability challenges in quantum computing by replacing bulky microwave wiring with compact optical fibers for qubit control signals.
The research received coverage from multiple outlets including GlobeNewswire and The Quantum Insider which highlighted the significance of converting microwave photons to optical photons as a pathway toward scalable fault-tolerant quantum computers.
QphoX also announced partnerships aimed at creating seamless connections between superconducting quantum processors for scalable computing solutions.

Podcasts and Interviews

While there is no direct podcast or interview listing specifically featuring the QphoX team found in public podcast directories such as Quantum Computing Report or QuEra podcasts databases so far, members of the broader Dutch quantum ecosystem including experts affiliated with related firms have been active. However:
Rob Stockill, CTO and co-founder of QphoX, is recognized as an influential figure within the field due to his academic achievements (Ph.D. from Cambridge) and postdoctoral work at TU Delft on microwave-to-optical transduction foundational to QphoX’s technology.
Rob Stockill will be speaking at prominent industry events such as IQT Nordics Conference 2024 presenting advancements in quantum hardware — this reflects thought leadership though not direct evidence of recorded interviews yet.

Conference Participation and Event Involvement

Rob Stockill is confirmed as a speaker for the 2024 IQT Nordics Conference (June 24–26) held at Aalto University Helsinki. His talk will cover latest developments on optical-frequency qubit control/readout systems and their impact on scaling practical quantum computers.
Beyond formal conference presentations, QphoX engages actively with academia through collaboration with universities like TU Delft to foster R&D efforts contributing to their technological edge.
According to marketing strategy insights from CanvasBusinessModel.com, QphoX sponsors hackathons and competitions focused on advancing innovation within the field of quantum computing. They organize workshops/seminars aimed at educating students/researchers about cutting-edge topics such as quantum networks facilitated by their modem devices — indicating active event participation beyond just presentations.

Summary Table

Category	Details
Publications	Nature Physics paper (Feb 2025) on optical readout technique; featured widely across scientific news platforms
Media Features	Coverage by GlobeNewswire, The Quantum Insider & stock market news sites highlighting tech breakthroughs
Podcasts/Interviews	No publicly listed podcasts directly featuring team yet; CTO Rob Stockill known expert set to speak at IQT Nordics
Conferences	IQT Nordics Conference speaker (Rob Stockill), plus ongoing university collaborations
Event Involvement	Sponsors hackathons/competitions; hosts educational workshops/seminars focused on raising awareness & innovation

QphoX’s combination of high-impact publications coupled with active engagement via conferences like IQT Nordics—and educational outreach—positions them strongly within Europe’s emerging commercial ecosystem for scalable quantum communication technologies.