Arctic Instruments funding news – Arctic Instruments has Secured €2.35Million in Funding

The company plans to increase production of these amplifiers, which are essential for building larger and more powerful quantum computers.

The funding round was led by Lifeline Ventures, one of Finland's largest venture capital firms. Lifeline is known for supporting promising startups early on. Currently, quantum computers usually have around 100 qubits and need 10 to 20 amplifiers to measure their states.

To increase computing power, the number of qubits in a quantum computer must be raised, which means more amplifiers are needed. A quantum computer with 10,000 qubits will need thousands of high-quality amplifiers that add as little noise as possible to the measurements.

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Arctic Instruments is the only company able to produce thousands of these high-quality amplifiers. Their ability to make them consistently and in large quantities is crucial for building large-scale quantum computers that can accurately measure qubit states.

Quantum computers with more qubits and better performance can solve more complex problems in industries like chemicals, life sciences, finance, and transportation.

The company was created as a spin-off from VTT Technical Research Centre of Finland, a government-owned research organization. The company’s amplifiers were developed through VTT’s research.

Joonas Govenius, CEO and Co-founder said, “We have reached a level of maturity where our capability to fabricate and test our amplifiers in volume is industry leading. In the bigger picture, the development of quantum computers remains very much a challenge, and their potential applications also remain an active topic of research. What is clear is the need to scale up, without compromising the quality of any of the critical components. We contribute to this effort by constantly improving both the quality and consistency of our near-quantum-limited amplifiers, which are key to accurate qubit state measurements. The dedicated company and funding we now have allows us to boost our development efforts significantly, ".

Timo Ahopelto, founding partner at Lifeline Ventures said, “Arctic Instruments is a competent team that has been able to create a product that solves one of quantum computing’s most critical challenges. The product is based on several years of research. It is very difficult to produce a component that is accurate and reliable at the same time, and works today,”.

About Arctic Instruments

Arctic Instruments was founded by experienced scientists Mário Ribeiro, Visa Vesterinen, and Joonas Govenius, who specialize in superconducting circuits. They share a common goal of helping scale quantum computers to solve some of the world’s most complex problems.