Copenhagen-based startup Kvantify, which solves complex computational issues by leveraging the power of quantum and high-performance computing, has secured €10 million in a seed round. The investment was led by Dreamcraft Ventures, Lundbeckfonden BioCapital, and 2degrees.
- Founded in 2022 by Hans Henrik Knudsen, Nikolaj Zinner, and Allan Grønlund, Kvantify develops quantum computing management software specializing in high-performance computing (HPC) and quantum computing. The company aims to democratize access to these advanced technologies for businesses globally.
- With a team of 63 employees spanning backgrounds in physics, mathematics, chemistry, and cloud computing, Kvantify introduces Koffee, a groundbreaking solution for unbinding kinetics. This innovation empowers pharmaceutical and biotech companies to iterate more intelligently, saving time, reducing costs, and mitigating risks in the drug discovery process.
Details of the deal
- The investment was led by Dreamcraft Ventures, a Copenhagen-based venture capital firm that supports European tech startups from pre-seed to Series A stages. Lundbeckfonden BioCapital, specializing in biotech investments, and 2degrees, a private investment firm, also played key roles in leading the investment.
“With our investment in Kvantify, we are broadening our footprint in and commitment to further strengthening the Danish life science ecosystem. Quantum computing can deliver accuracy and derisking to the early stages of drug development to a level not possible with classical computers, thereby enabling faster speed to market,” Partner at Lundbeckfonden BioCapital, Jacob Falck Hansen, stated.
- Other notable investors include Redstone VC, an international tech investor focused on sector-specific investments; Danish quantum venture capital firm 2xN; and EIFO, which joined the investment round.
- With the fresh funding, Kvantify plans to further develop its solutions, aiming to leverage quantum computing to address complex problems in drug discovery and beyond. The company will also enhance the development of quantum algorithms for chemical simulation, broadening their applicability across various industries.
