Barcelona-based Qilimanjaro Quantum Tech has completed a €19.6 million first close of its Series A funding round. Indra Group led the investment through its IndraMind unit with €10 million, while the Spanish Society for Technological Transformation (SETT) renewed its commitment with €9.6 million. The company expects to complete the round during the final quarter of 2026 with participation from Avançsa and other existing investors.
Funding Details and Strategic Backing
The new capital will enable Qilimanjaro to scale and industrialize its quantum computers, advance the development of new chip generations, and increase manufacturing and deployment capacity. The company said the funding strengthens technological capabilities developed in Spain while contributing to greater European technological autonomy in quantum computing. SETT and Indra together bring sovereign and industrial capital to protect and accelerate national technological autonomy.
Executive Perspectives
Qilimanjaro CEO Marta P. Estarellas emphasized that the renewed commitment from SETT and Indra's entry combine sovereign and industrial capital. She said the partnership aims to bring quantum computing closer to strategic industrial sectors and ensure that quantum technology built in Spain continues to grow in Spain. IndraMind Managing Director Ignacio Martínez added that quantum computing will mark a decisive leap in the evolution of artificial intelligence and its ability to solve problems of enormous complexity.
Strengthening Defense and Industry
Martínez noted that the transaction strengthens Indra Group's position in this strategic field while advancing its technology strategy. IndraMind also expands its capabilities to develop sovereign and differentiated solutions for defense, security, and industry. The investment underlines Indra Group's commitment to Catalonia, one of Europe's leading hubs for innovation, supercomputing, and quantum technologies.
Full-Stack Quantum Technology
Founded in Barcelona in 2019, Qilimanjaro is the only Spanish full-stack quantum computing company. It develops its own chips, software, and algorithms, and integrates cryogenics and control electronics to build complete quantum systems. Its core technology is based on digital and analog quantum processors using superconducting fluxonium qubits, combined with high-performance classical computing in multimodal systems that address optimization, simulation, and artificial intelligence problems.
Production Milestones
The company already has three quantum systems operating at the Barcelona Supercomputing Center, one of Europe's largest supercomputing centers. These include the first analog quantum computer integrated into a European HPC center, a significant milestone for European quantum infrastructure. This operational footprint demonstrates Qilimanjaro's ability to deploy complete quantum systems in demanding research and industrial environments.
Market Traction and Client Adoption
The company has a diverse workforce of 80 employees from more than 22 nationalities and has deployed eight quantum systems to date. The company works with clients in energy, telecommunications, logistics, healthcare, and finance across multiple regions. It offers on-premise systems, cloud access, and specialized adoption services to help organizations explore and integrate quantum computing.
European Autonomy and Market Impact
The round brings together sovereign and industrial capital to accelerate Spain's quantum technology development and strengthen its European position. Qilimanjaro offers on-premise systems, cloud access, and specialized adoption services to clients in strategic industrial sectors. The company expects the full Series A round to close in the final quarter of 2026 with participation from Avançsa and other existing investors.
The Series A first close positions Qilimanjaro to scale production, advance chip development, and expand its deployment capacity across Europe. With backing from Indra Group, SETT, and upcoming investors, the company is poised to bring quantum computing closer to critical industries. The announcement highlights Barcelona's strengthening role in sovereign quantum innovation and European technological autonomy.