HTGF et al. in €2.3m round for HQS Quantum Simulations

Angel investors Friedrich Hoepfner and Manfred Ziegler also provided capital.

The fresh capital will be used to develop the company's pre-existing cooperation with its partners in the chemicals industry, where its software is used to increase the speed of material development.

UVC's second fund, Unternehmertum Fonds II, closed in April 2018 on €82m. The fund regularly invests in the software and electrical components and equipment sectors. Its recent expansion deals include a €3m investment in Fazua earlier this month.

HTGF's third fund closed in May 2018 on €316.5m. The firm targets early-stage investments in the software and biotechnology sectors.

Company
Founded in 2017, HQS is based in Karlsruhe and is a spinout from the Karlsruhe Institute of Technology. The group produces quantum computing software that is frequently used in the chemistry and pharmaceutical sectors.

People
HQS Quantum Simulations – Iris Schwenk, Sebastian Zanker, Jan Reiner, Michael Marthaler (co-founders).

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