SemiQon: Leading the Charge in Cryogenic CMOS and Quantum Computing
SemiQon, a Finnish deep-tech company, is making significant strides in the quantum computing landscape. Founded as a spin-out from VTT’s Launchpad incubator, the company focuses on developing scalable, cost-effective, and energy-efficient silicon-based quantum processors. Their unique approach leverages existing semiconductor manufacturing infrastructure, enabling the production of quantum processors designed for the million-qubit era—a significant leap forward in the field.
One of SemiQon’s key differentiators is its focus on cryogenic CMOS technology. This technology allows their quantum computers to operate at warmer temperatures than traditional approaches, substantially reducing energy consumption and production costs. This has garnered considerable market attention, as evidenced by strong customer demand.
SemiQon has secured impressive funding to date, totaling €17.5 million. This includes €2.5 million in non-dilutive grants and €15 million in equity-based funding from the European Innovation Council (EIC) under its Accelerator program.
Further funding has been secured from several prominent venture capital firms including Voima Ventures, Lunar Ventures, Dhyan Ventures, Tiny Supercomputer VC, and Atomico Angel Programme. By February 2023, the company had already raised €2 million, with the EIC’s significant contribution arriving in 2024. This substantial investment underscores the confidence in SemiQon’s innovative technology and market potential.
The funding will fuel the development of their Cool-CHIPS project, aiming to advance their cryogenic CMOS product from a technical readiness level (TRL) of 6 to 8 within two years. This will enable crucial product testing in real-world customer environments. While generating revenue from their cryogenic CMOS products in other markets, SemiQon remains firmly committed to its long-term vision of building scalable quantum processors.
Competitors and Market Position
SemiQon operates in a highly competitive quantum computing market with many direct and indirect competitors vying for market share.
These include companies developing alternative quantum computing technologies like superconducting qubits, trapped ions, and photonic approaches. Some notable competitors to SemiQon include several huge American tech giants who have enormous resources:
- IBM: A major player with substantial investment and expertise in superconducting quantum computing.
- Google: Also a significant player in superconducting qubit technology, with a history of significant breakthroughs.
- Rigetti Computing: Focuses on superconducting qubits and offers cloud-based access to its quantum computers. www.rigetti.com
- IonQ: Uses trapped ion technology for quantum computing. www.ionq.com
- PsiQuantum: Focusing on photonic quantum computing. www.psiquantum.com
In Europe the scene is quite granular with very few large companies and scientific bodies but many small highly specialised startups and young companies. The following list is far from complete but gives an indication of Europe’s weakness compared to the US tech giants and the scientific resources they can command.
- Large European companies
- Germany Infineon Technologies, Bosch
- France Thales
- Scientific bodies
- Germany Fraunhofer-Gesellschaft, Max Planck Society,
- France CEA and CNRS
- UK NPL, Oxford, Cambridge, Imperial College London
- Italy Politecnico di Milano, Università di Padova, INFN
- Swiss ETH Zurich and EPFL
- Sweden KTH, Chalmers, and RISE
- Finland VTT and Aalto Univertsity
- Denmark DTI
- Norway Olso University
Quantum computing industry is still in its relatively early stages, and the competitive landscape is dynamic and rapidly evolving, especially with the developments in the AI sector. New entrants and technological advancements are continually reshaping the market.
SemiQon’s strategic focus on cryogenic CMOS, combined with recent funding and strong partnerships, appears to position the company reasonably well. Their unique approach to scalability and cost-effectiveness could potentially offer a significant competitive advantage.
