The global race for quantum computing is usually framed as a contest between American tech giants and China. Spain wants a seat at that table, and it's backing a homegrown contender. Barcelona's Qilimanjaro Quantum Tech has announced a €19.6 million (about $22 million) Series A first close, led by defense and technology group Indra.

Indra invested €10 million through its IndraMind unit, using an instrument that converts when the round closes, The Quantum Insider reported. Spain's SETT, the Spanish Society for Technological Transformation under the Ministry for Digital Transformation and Public Administration, contributed €9.6 million. Avançsa and other existing investors are expected to join before the full round closes in the fourth quarter of 2026.

What Qilimanjaro Builds

Founded in 2019, Qilimanjaro develops quantum computers based on superconducting fluxonium qubits, a design prized for longer coherence times than more common qubit types. The company builds both digital and analog quantum processors and designs its own chips, software and algorithms, along with integrated cryogenics and control electronics.

Its signature approach is "multimodal" computing, which pairs quantum processors with high-performance classical computers so each handles the problems it is best suited for.

Machines Already in the Field

Unlike many quantum startups still stuck in the lab, Qilimanjaro has deployed eight quantum systems. Three are integrated with the Barcelona Supercomputing Center, including what the company calls the first analog quantum computer integrated into a European high-performance computing center. It works with clients in energy, telecommunications, logistics, healthcare and finance, and offers on-premises systems, cloud access and adoption services. The team numbers 80 people from more than 22 nationalities.

Sovereignty Is the Selling Point

The investor lineup tells the story. A defense contractor and a state technology fund are backing the round, framing quantum computing as strategic infrastructure rather than just a commercial bet.

"SETT's renewed commitment and Indra's investment bring sovereign and industrial capital together," CEO Marta P. Estarellas said.

"Quantum computing will mark a decisive leap in the evolution of artificial intelligence," added Ignacio Martínez, general manager of IndraMind.

Where the Money Goes

Qilimanjaro plans to use the capital to scale and industrialize quantum computer production, develop new generations of chips, and expand manufacturing and deployment capacity, all in service of European technological autonomy.

For U.S. readers, the round is a reminder that quantum is becoming a geopolitical industry. As governments treat qubits like semiconductors, expect more public money, more defense partnerships, and more national champions like Qilimanjaro to emerge.

Source

The Quantum Insider — "Qilimanjaro Quantum Tech Announces Nearly €20 Million First Close of Series A Led by Indra Group"