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Qilimanjaro Quantum Tech has completed a €19.6 million first close of its Series A, with €10 million from Indra Group through IndraMind and €9.6 million from Spain’s SETT. The company says it will use the funding to scale and industrialize quantum computers, develop chips and expand manufacturing and deployment capacity. It expects to complete the round in the fourth quarter of 2026.
Barcelona-based Qilimanjaro Quantum Tech has completed a €19.6 million first close of its Series A funding round, with €10 million from Indra Group through its IndraMind division and €9.6 million from Spain’s Society for Technological Transformation, or SETT. The financing is intended to help the company expand production and deployment of quantum computers, although the Series A remains open and the company says it expects to complete the round in the fourth quarter of 2026.
Qilimanjaro said the first close brings together industrial investment from Indra Group and public-sector investment from SETT, which operates under Spain’s Ministry for Digital Transformation and Public Administration. The company described SETT’s investment as renewed support following its participation in an earlier funding round. Indra’s €10 million investment is being made through an instrument that, according to the announcement, will convert when the Series A closes.
The company plans to use the proceeds to scale and industrialize its quantum computers, develop new generations of chips and increase its manufacturing and deployment capacity. The announcement does not specify how much of the funding is allocated to each goal, or give a schedule for particular facilities, products or deployments.
Qilimanjaro says it has deployed eight quantum systems, including three integrated with the Barcelona Supercomputing Center, known as BSC-CNS. It says those systems serve customers across energy, telecommunications, logistics, healthcare and finance, through on-premises installations, cloud access and adoption services. These operating and customer figures are company-reported; the announcement does not provide independent performance results or revenue figures.
Funding Targets Spanish Quantum Production
The investment gives Qilimanjaro additional capital to pursue a shift from developing quantum systems toward industrial-scale production and deployment. That distinction matters in a field where companies must move beyond prototypes and research demonstrations to build systems that customers and research institutions can access and operate. The funding announcement signals investor support for that expansion, but it does not establish that the company has reached commercial scale or that its systems deliver particular performance advantages.
The round also brings together a strategic industrial investor and a Spanish public technology investor. Qilimanjaro’s chief executive framed that combination as support for national technological autonomy, while Indra said the investment strengthens its position in quantum computing. Those are the participants’ stated objectives; the announcement does not describe specific joint contracts, customer commitments or deployment targets resulting from the investment.
For Spain and Europe, the company’s expansion could contribute to locally developed quantum hardware and related expertise. Qilimanjaro says it builds its own chips, software and algorithms and integrates cryogenics and control electronics. How far the new capital will extend those capabilities, and how they will translate into sustained customer demand, remains to be seen.
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Qilimanjaro’s Systems and Investors
Founded in Barcelona in 2019, Qilimanjaro describes itself as a full-stack quantum computing company. Its technology includes digital and analog processors based on superconducting fluxonium qubits, combined with classical computing. The company says this approach allows it to match platforms to optimization, simulation and artificial-intelligence workloads; the announcement offers no comparative benchmark data to assess those claims.
Three of its systems are operating in integration with BSC-CNS, one of Europe’s large supercomputing centers, according to the company. Qilimanjaro also says it has 80 employees from more than 22 nationalities. These details provide a picture of its current operations, but do not disclose system utilization, customer contract values or how much revenue quantum computing contributes.
The Series A has not yet been fully completed. The company expects to finish the round during the fourth quarter of 2026, with participation expected from Avançsa and other existing investors, according to the announcement. The source material does not state the final target size of the round.
““SETT’s renewed commitment and Indra’s investment bring sovereign and industrial capital together to protect, while also accelerating, national technological autonomy.””
— Marta P. Estarellas, CEO of Qilimanjaro Quantum Tech
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Round Size and Delivery Plans Remain Open
The final Series A amount has not been disclosed, and Qilimanjaro has not announced a firm closing date beyond its expectation to complete the round in the fourth quarter of 2026. It is also unclear how much additional capital the company hopes to raise, or whether the expected participation of Avançsa and other existing investors is committed or still being arranged.
The announcement does not set out detailed spending milestones, production targets or timelines for new chip generations and deployments. Nor does it give independent measures of system performance, customer usage or commercial revenue. Indra’s investment instrument is described as converting at the round’s closing, but the announcement does not give further terms. The funding and operating figures cited here come from the companies’ announcement and have not been independently verified in the source material.
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Fourth-Quarter Close Is the Next Milestone
Qilimanjaro says it expects to complete its Series A in the fourth quarter of 2026, with Avançsa and other existing investors expected to participate. The next public milestone will be confirmation of the round’s final size and closing, along with any further details on the investors involved.
After the close, the company says it will direct funding toward scaling systems, developing chips and growing manufacturing and deployment capacity. Whether it announces concrete timelines, production volumes or new customer deployments has not been specified. Those details will help show how the investment is being translated into operating expansion.
quantum computer simulation software
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Key Questions
How much has Qilimanjaro raised in this Series A first close?
Qilimanjaro announced a €19.6 million first close. Indra Group is investing €10 million through IndraMind, and Spain’s SETT is investing €9.6 million.
Is the Series A funding round complete?
No. The €19.6 million is the first close. Qilimanjaro says it expects to complete the round in the fourth quarter of 2026, but has not disclosed the final target or total amount expected.
What does Qilimanjaro plan to do with the funding?
The company says it will use the capital to scale and industrialize its quantum computers, develop new generations of chips, and expand manufacturing and deployment capacity. It has not published a detailed spending breakdown or project timeline.
What has Qilimanjaro deployed so far?
Qilimanjaro says it has deployed eight quantum systems, including three integrated with the Barcelona Supercomputing Center. The deployment count and related operational details are company-reported.
Source: rss
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