In early May, eleQtron – a company based in Siegen and Hamburg – announced a record-breaking achievement: its Series A funding round of 57 million euros was one of the largest ever secured by a startup in the field of quantum computing. At a fireside chat organised by the Deep Tech Club, CEO Jan Henrik Leisse spoke about the deal and the role Hamburg plays in this future technology.
eleQtron: Quantum computing holds great promise for Hamburg’s future
Hamburg was the first choice for the second location
Leisse is an entrepreneur, not a scientist. To answer the technical questions, he was therefore accompanied by experimental physicist Christoph Georges, who has been part of the eleQtron team since 2023. The startup was founded in 2020 as a spin-off from the University of Siegen. Hamburg was chosen as the second location primarily because the conditions here are particularly favourable for building quantum computers. Key partners include the Dutch semiconductor manufacturer NXP, which has its German headquarters in Hamburg, and the German Aerospace Centre (DLR).
The DLR is funding the development of quantum computers based on ion traps with a total budget of 208.5 million euros. This technology is one of several used to generate qubits, which – unlike the bits in conventional computers – can exist in multiple states simultaneously, thereby vastly increasing computing power. Other companies are focusing on superconducting qubits, neutral atoms or photons, and there is still fierce competition between the various approaches. Georges, however, believes that hybrid models will deliver the best results in the future.
eleQtron is selling an investment in the future
When it comes to sales, technical details play only a minor role. Very few people truly understand how quantum computing works in detail. Even Leisse only understands it to a certain extent. In his discussions with potential customers and investors, the focus is therefore primarily on the following factors:
Scalability – quantum computers will never become a mass-market product, but there must be clear potential for growth in terms of both unit numbers and computing power.
Stability – the computers must be reliable and ready for use at all times.
Energy consumption – still very high at present and therefore costly.
Integration into existing systems.
So far, eleQtron has been selling a vision of the future: the prospect of having access to the dominant computer technology in five, ten, or perhaps even 15 years’ time. Although there is as yet no practical use case, the startup is already commercially successful: its order book stands at over 54 million euros. A key driver is the lead investor in the funding round, in which IFB Innovationsstarter GmbH also participated via the InnoVentureFonds. Schwarz Digits is part of the Schwarz Group, best known for its Lidl supermarkets. Leisse expressed his admiration for the retail group’s IT division, describing it as a demanding partner, but one that, thanks to its extensive market presence, can also open many doors. In conclusion, he called on the guests at the fireside chat to help ensure that Hamburg can defend and even further expand its leading role in the field of quantum computing.
The Deep Tech Club Hamburg is organised by DESY, Carbon13, Start-Up Labs Hamburg, Life Science Nord, the Hamburg Investors Network, Hamburg Invest and the Impossible Founders.