Founded in 2020 as a spin-off from the University of Siegen, eleQtron develops trapped-ion quantum processors based on its proprietary MAGIC (Magnetic Gradient Induced Coupling) technology that enables microwave-based control of qubits. The company combines research-driven innovation with a stated focus on industrial scaling and commercialisation of quantum systems. eleQtron plans to scale production capacity and expand cloud-based access to its systems to support industrial deployment. Its near-term product and engineering roadmap centers on advancing its hardware platform and making systems accessible via the cloud. The company employs more than 100 people and has partnerships with leading European research and computing centres. Recent funding and grants are intended to accelerate its shift from laboratory development toward industrially usable quantum infrastructure.

Total raised

$116M

Funding rounds

2

Latest round

Series A

Latest activity

May 2026