Quantum Computing Integrator ParTec AG Raises €5M

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Munich — Modular supercomputing company ParTec AG has announced that as a result of its years of work in the field of quantum computing, it is positioning itself as a complete integrator of quantum computers. ParTec offers a comprehensive qubit-agnostic solution based on a component-based design. Similar to developments that took place in classical computing, a supply chain ecosystem with companies focussing on individual component technologies is emerging in the quantum space. This development allows ParTec AG to leverage its best-of-breed approach from supercomputing and collaborate with leading technology providers to offer comprehensive quantum complete solutions.

Bernhard Frohwitter, CEO of ParTec AG: “Today’s solutions for quantum computers are monolithic designs, mostly developed by qubit technology developers. This approach carries substantial risks for customers, in particular in terms of being tied to a specific provider and technology in a market that still is very volatile with respect to players and technologies. ParTec adopts a different, fresh and innovative approach that will lead to a strong market position.”

The company aims to launch its first quantum computer in 2024. Dominik Ulmer, Chief Customer Solutions Officer at ParTec: “Therefore, we have decided to start a project to establish a production facility for quantum computers in the Greater Munich area. The ‘ParTec Quantum Factory’ is expected to start operations in the second half of 2024.”

The company will initially invest five million euros in the construction of a production facility for assembly and testing of cryogenic and non-cryogenic systems.

Among ParTec’s achievements in the field of quantum computing is the development of QBridge, a software solution that enables seamless integration of high-performance and quantum computers, created in collaboration with Quantum Machines, an Israeli developer of quantum control and orchestration products. In addition, ParTec is actively working on expanding its Parastation Modulo software, used in modular supercomputers. This expansion, Parastation Modulo 2.0, aims to bridge the gap to embed quantum computers into modular supercomputers. Furthermore, ParTec will deliver a superconducting complete solution and a cloud-based user access and management software infrastructure for the Israeli National Quantum Initiative (INQI), as well as establish a new laboratory for exploring hybrid quantum computing in collaboration with NVIDIA and the Jülich Supercomputing Centre (JSC).

The second worldwide quantum computer study by the International Data Corporation (IDC) predicts that potential customers’ spending on quantum computers will increase from 1.1 billion dollars in 2022 to 7.6 billion dollars in 2027, with a compound annual growth rate (CAGR) of 48.1% (2023-2027). The study further states, “Quantum computing will revolutionize companies’ ability to solve some of the most complex challenges.”