Trumpf Venture invests in a start-up for quantum technology cooling systems. This investment is intended to expand the start-up’s production capacities and increase the number of employees. Dieter Kraft, Managing Director Trumpf Venture: “We are helping to advance research and development of quantum technology.”
Trumpf Venture GmbH invests in the quantum technology start-up Kiutra as part of a second round of financing. Corresponding contracts have now been signed in Munich.
Kiutra develops magnetic cooling systems with ultra-low temperatures that do not require expensive and rare liquid gases. Such cooling systems play a particularly important role in the research and development of quantum technologies. With its compact and highly automated coolers, Kiutra is enjoying growing commercial success and making a valuable contribution to the global progress of quantum technology.
“Quantum technologies, for example detectors, often require temperatures close to absolute zero of -273 degrees Celsius. With this investment, we are helping to advance research and development of quantum technology as a whole,” says Dieter Kraft, Managing Director of Trumpf Venture GmbH.
Kiutra was founded in 2018 as a spin-off of the Technical University of Munich. The start-up employs 16 people.
Expansion of production capacities
The financing round is led by new shareholders Trumpf Venture and Swiss deep-tech VC Verve Ventures. Together with the existing investors High-Tech Gründerfonds (HGTF), Apex Ventures and the Initiative for Industrial Innovators, the companies are investing a medium seven-figure sum.
Kiutra intends to use the new capital to expand production capacity and increase the number of employees. It will also be used to further develop the company’s products for the growing quantum technology market.
About Trumpf Venture
Trumpf Venture expands the Trumpf Group’s comprehensive activities to promote innovation and identify disruptive technologies at an early stage. The corporate venture capital unit invests globally in early-stage start-ups whose activities are complementary or adjacent to Trumpf core areas, such as Advanced Photonics and Smart Factory Solutions. Funded startups benefit from a wide network, deep experience in industrial manufacturing and scaling, and support in accessing the Trumpf ecosystem. In addition to a strategic fit, the prerequisites for an investment are a technology-based, innovative business model that is differentiated by unique selling propositions, an experienced management team and a risk-adequate return on the capital provided.