Indra leads €19.6 million first close of Qilimanjaro's quantum computing Series A

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Qilimanjaro Quantum Tech, a Barcelona quantum computing company, has closed the first €19.6 million of its Series A. Indra Group led it with €10 million, invested through IndraMind, its sovereign artificial intelligence unit. The Spanish Society for Technological Transformation (SETT), which sits under the Ministry for Digital Transformation, put in the other €9.6 million, having already backed the company in its previous round. The public money comes from the PERTE Chip programme, which exists to build up Spain's microelectronics and semiconductor industry. This is a first close rather than a final one: the company expects to finish the round in the fourth quarter of 2026, with Avançsa, the Generalitat de Catalunya's investment company, and other existing investors joining. How much more that will add has not been disclosed.

The money is meant to turn its quantum computers into an industrial product at scale, develop new chip generations, and build and install more machines. Founded in 2019 as a spin-off of the Institute for High Energy Physics, the Barcelona Supercomputing Center and the University of Barcelona, Qilimanjaro designs its own chips, writes its own software and builds the cryogenics and control electronics around them. It works with fluxonium superconducting qubits, pairing analogue and digital quantum processors with classical high-performance computing. It has deployed eight systems, three of them at the Barcelona Supercomputing Center, among them the first analogue quantum machine to sit inside a European high-performance computing centre. It has 80 employees of more than 22 nationalities and customers in energy, telecoms, logistics, health and finance.

For Indra, the deal also belongs to a Catalan plan with numbers attached. In May the group said it intends to lift its revenue in Catalonia by 50%, to €550 million, and create 1,500 skilled jobs before 2027. It had already invested in Catalan satellite start-up Sateliot, and a few weeks ago brought precision-engineering firm Gutmar into its supply chain. Chief executive Marta P. Estarellas said the goal is that "the quantum technology built in Spain continues to grow in Spain."