Dutch quantum startup QuantWare has raised $178 million in a Series B funding round.

The investment will be used to support the development of its VIO-40K quantum processor architecture, the company said.

New participants in the investment round included Intel Capital, IQT, and ETF Partners, alongside existing investors FORWARD.one and Invest-NL Deep Tech Fund, InnovationQuarter Capital, Ground State Ventures, and Graduate Ventures.

QuantWare said the round was “heavily oversubscribed” and said the fundraise represents the largest private round raised by a dedicated quantum processor company to date.

Founded in 2021 after spinning out from TU Delft and its affiliated research institute QuTech, QuantWare has developed technology that routes connections vertically, thus solving the issue of scaling bottlenecks, which is currently limiting the size of quantum processing units (QPUs).

QuantWare says that the technology, dubbed VIO, is an open platform that can scale the qubit chiplets and designs of third parties, unlocking the “fastest path towards monolithic processors with more than one million qubits.” Its VIO-40K processor architecture will support 10,000 qubits, which the company claims is 100x larger than the current state-of-the-art offering.

The company is also building KiloFab, which it claims will be the world’s largest dedicated quantum open architecture fab, increasing its production capacity by 20x to meet global customer demand. To date, QuantWare has shipped to more than 50 customers across 20 countries, a feat which makes it the world’s largest commercial QPU supplier by volume, it said.

“The promise of quantum computing, capable of solving humanity’s intractable challenges, can only happen once it can be manufactured and deployed at scale. That is exactly what we are building,” said Matt Rijlaarsdam, CEO and co-founder of QuantWare.

“VIO-40K will deliver 10,000-qubit processors on an open architecture that the entire ecosystem can build on, and KiloFab gives us the industrial production capacity to meet rapidly growing global demand. This fundraise accelerates QuantWare, and in doing so, advances the entire ecosystem toward hyperscale quantum compute.”