Finnish multiphysics simulation platform Quanscient, which accelerates product development with advanced algorithms and quantum computing, has secured €5.2 million in growth funding, led by Crowberry Capital, to bring engineering simulations into the quantum era.
- Quanscient was founded in 2021 by Juha Riippi, Tuomas Kortelainen, Otto Turunen, and Niko Laitila. The startup develops a cutting-edge Computer-Aided Engineering (CAE) platform that accelerates product development by combining cloud-native multiphysics solvers, advanced cloud computing, and future quantum integration.
- Quanscient’s platform supports fully digital R&D, enabling companies in fields like fusion energy, semiconductors, biomedical, and aerospace to perform highly efficient complex simulations.
- The platform boosts simulation speed by up to 100 times, enabling rapid iteration, reducing reliance on costly testing, and allowing engineers to collaborate seamlessly, explore design alternatives, and accelerate the launch of next-generation technologies.
"Our solution boosts simulation capacity by 100 times, enabling engineers to iterate faster and tackle more complex challenges. This leads to superior products and a quicker, lower-risk path to market," co-founder and CEO of Quanscient, Juha Riippi, commented.
Details of the deal
- The growth funding round was led by Crowberry Capital, an Iceland-based venture capital firm that invests in seed and early-stage startups across the Nordics. Crowberry Capital's portfolio includes 30 startups, with investment sizes ranging from €200,000 to €2 million.
“With Quanscient’s multiphysics simulations, global companies solve their most complex engineering challenges faster and more efficiently than ever before. By offering superior multiphysics capabilities, Quanscient speeds up innovation and creates significant value across rapidly growing global industries,” Explains Jenny Ruth Hrafnsdottir, Founding Partner, Crowberry Capital.
- The investment also received support from Speen Holding, Maki.vc, a Helsinki-based seed-stage venture capital firm that supports tech startups from inception to Series A, and First Fellow, a Helsinki-based VC.
- With €5.2M in new funding, Quanscient will speed up the development of its quantum-powered multiphysics simulation platform and expand globally.
- The company is set to release its first product, a Computational Fluid Dynamics (CFD) simulation using real quantum hardware, in early 2025.
