Qilimanjaro Quantum Tech closes the first part of its Series A with €19.6 million from Indra and SETT, aiming for €40 million. What it does, what the round is for and what a quantum computer is.
By Marc Nieto
Qilimanjaro Quantum Tech, the Barcelona company that designs and builds quantum computers, has closed the first part of its Series A with €19.6 million. The money comes from Indra Group, through IndraMind, and SETT (Spain’s Society for Technological Transformation). The goal is to reach €40 million as other investors join.
At a glance
- What it does: quantum chips, software and algorithms, and complete quantum computers, from Barcelona.
- First close: €19.6 million. Indra contributes €10 million as a convertible loan (around 5% of the company after conversion) and SETT €9.6 million.
- Target: €40 million in total; the rest is expected from Avançsa and existing investors.
- What for: new chip generations, more manufacturing capacity and deploying systems beyond its lab.
A normal computer works with bits that are 0 or 1. A quantum computer uses qubits, which exploit quantum physics to explore many combinations at once, useful for problems such as simulating molecules, optimising routes or portfolios, or improving certain AI models.
Qilimanjaro develops the whole stack: quantum chips, the software to program them and the algorithms. Its processors use superconducting fluxonium qubits and combine analog and digital processing.
Beyond the money, the round opens an industrial partnership: Indra and Qilimanjaro plan joint pilots exploring quantum applications in AI, robotics and complex system simulation. For Qilimanjaro it means, beyond funding, an industrial partner to test its systems in real use cases.
Quantum computing is one of the technologies where Europe wants its own capability. Having one of the companies that builds it in Barcelona, with industrial and public backing, strengthens the city as a deep tech hub, not just a software one.
It develops and builds complete quantum computers, as well as chips, software and algorithms. With this round it wants to expand manufacturing and deploy systems beyond its Barcelona lab.
Its contribution is a €10 million convertible loan; after conversion it is expected to hold around 5%.
Indirectly: in the long run, very powerful quantum computers could put some of today’s cryptography at risk. That is why work on quantum-resistant cryptography is already under way.
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Source: Quasa, 17 October 2026.
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