LuxQuanta secures EIC Accelerator Funding

LuxQuanta, ICFO’s 10th spin-off company launched in May 2021, won the European Investment Council’s (EIC) Accelerator Funding in the most recent call, combining grants and equity. Juries of experienced investors and entrepreneurs interviewed 242 companies out of 1083 full proposals submitted, and selected 42 companies, including LuxQuanta, in a highly competitive process. This round was the EIC Accelerator’s most competitive funding round to date, distributing €285 million in funding in deep-tech start-ups.

The EIC Accelerator is a renowned program that supports high-risk, high-impact innovations and startups across Europe. Besides financial support, it offers Business Acceleration Services that connect projects with leading experts, corporations, investors, and ecosystem actors. The selection process is strict and rigorous, so LuxQuanta’s success highlights the company’s exceptional team, groundbreaking technology, and the potential societal and market impact of its quantum cryptography technology.

“The European Commission’s support comes at a crucial time for LuxQuanta as we embark on our second financing round that will enable us to scale operations, penetrate new markets, and attract top talent,” says LuxQuanta’s CEO, Vanesa Díaz.

The Accelerator funding undoubtedly serves as a mark of excellence for its recipients. LuxQuanta, for instance, with a dedicated team of 25 assembled within just two and a half years of its inception, is already on an ambitious trajectory to become the leading European QKD manufacturer. Furthermore, following the remarkable achievement of winning the EIC Accelerator, LuxQuanta is now poised to not only forge strategic partnerships, but also to raise awareness about the vulnerabilities inherent in current communications systems.

Congratulations to the entire LuxQuanta team. Onward and upward!

 

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