eleQtron Closes €57m Series A, One of Europe’s Largest Quantum-Computing Rounds
May 5, 2026 - 11:08 am
Trapped-ion quantum-computing scale-up eleQtron has secured €57m in a Series A round led by Schwarz Digits, the tech arm of Europe’s largest retail group. This significant funding event reflects a shift in European quantum computing investment.
What eleQtron is building:
Founded in 2020 in Siegen, Germany, eleQtron develops one of Europe's most promising trapped-ion quantum computers. Their unique technology, MAGIC (Magnetic Gradient Induced Coupling), uses radio frequencies instead of lasers to manipulate qubits, aiming for easier scalability to chip-based manufacturing.
The Funding Context:
This round stands out not just for its size, but also for the investor: Schwarz Digits, part of the Schwarz Group—Europe's largest retail conglomerate (owner of Lidl and Kaufland). This strategic investment suggests a focus on reducing reliance on US hyperscalers, rather than solely a financial bet.
Background:
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eleQtron secured an earlier €50m round in November 2022 from investors including Earlybird Venture Capital and Siegerlandfonds.
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The latest funding provides eleQtron with the runway to advance its technology towards commercial deployment.