- Indra Group invests €10 million through IndraMind, while SETT renews its support with €9.6 million
- The company expects to complete the round in the final quarter of 2026 with Avançsa and other existing investors
- The funds will be used to scale and industrialize its quantum computers and develop new generations of chips
Barcelona, October 14, 2026. Qilimanjaro Quantum Tech has completed a €19.6 million first close of its Series A funding round, led by Indra Group, through IndraMind, with an investment of €10 million. The Spanish Society for Technological Transformation (SETT), under the Ministry for Digital Transformation and Public Administration, has also renewed its commitment to the company with a new investment of €9.6 million. The company expects to complete the round during the final quarter of the year, with the participation of Avançsa and other existing investors.
The new capital will enable Qilimanjaro to scale and industrialize its quantum computers, advance the development of new generations of chips, and increase its manufacturing and deployment capacity, strengthening technological capabilities developed in Spain and contributing to greater European technological autonomy in quantum computing.
SETT’s renewed commitment and Indra’s entry bring together sovereign capital and industrial capital to protect, but also accelerate, national technological autonomy. Together, we are joining forces to bring quantum computing closer to strategic industrial sectors and to ensure that the quantum technology built in Spain continues to grow in Spain.
Marta P. Estarellas
CEO of Qilimanjaro Quantum Tech
Quantum computing will mark a decisive leap in the evolution of artificial intelligence and in its ability to solve problems of enormous complexity. With this transaction, Indra Group strengthens its position in this strategic field, while IndraMind expands the capabilities with which to develop sovereign and differentiated solutions for defense, security and industry.
Ignacio Martínez
Managing Director of IndraMind
The investment also reinforces Indra Group’s commitment to Catalonia, one of Europe’s leading hubs for innovation, supercomputing and quantum technologies. Enric Blasco, Director of Indra Group in Catalonia, highlighted that the transaction “helps advance our growth strategy in the region and strengthens our role as a driving force within its ecosystem of innovation, supercomputing and quantum technologies, which has made it one of Europe’s leading hubs in areas that are central to our company’s activity.”
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: the right platform for each optimization, simulation and artificial intelligence problem.
This model is already in production: three Qilimanjaro quantum systems operate integrated into the Barcelona Supercomputing Center – Centro Nacional de Supercomputación (BSC-CNS), one of Europe’s largest supercomputing centers, including the first analog quantum computer integrated into a European HPC center. The company has 80 employees from more than 22 nationalities, has deployed eight quantum systems and works with clients in energy, telecommunications, logistics, healthcare and finance, offering on-premise systems, cloud access and specialized adoption services.
About Qilimanjaro Quantum Tech
Headquartered in Barcelona and founded in 2019, Qilimanjaro Quantum Tech is a full-stack quantum computing company developing analog and digital quantum computers based on superconducting fluxonium qubits. Its multimodal approach offers an alternative to purely digital systems, with advantages for certain simulation, optimization and artificial intelligence problems and a lower dependence on full quantum error correction.
Qilimanjaro develops its own chips, software and algorithms and integrates the components required to build complete quantum systems. The company offers on-premise systems that integrate analog and digital quantum processors with HPC infrastructure, enabling each technology to be used where it can provide the greatest value depending on the use case, as well as remote access through SpeQtrum Cloud, its Quantum-as-a-Service platform.
This model helps retain in Spain and Europe the knowledge, intellectual property and industrial capabilities required to develop and operate a strategic technology, strengthening European technological sovereignty in quantum computing.
About IndraMind
IndraMind is Indra Group’s technology initiative developing sovereign artificial intelligence in a cyber-resilient environment for the comprehensive protection of citizens, territories and critical infrastructure, both physical and digital. Conceived as the group’s “digital brain,” it provides cognitive superiority through advanced artificial intelligence capabilities that enable threats to be anticipated and decision-making to be optimized with a global view of security and defense.
About Indra Group
Indra Group is a leading Spanish multinational and one of Europe’s leading companies in defense and advanced digitalization. It holds a leading position in defense, space, air traffic management, mobility and transformative technologies through Minsait, and brings together its sovereign AI, cybersecurity and cyber-defense capabilities within IndraMind. Indra Group works to build a safer and more connected future through innovative solutions, trusted relationships and leading talent. Sustainability forms part of its strategy and culture, helping it address current and future social and environmental challenges. At the end of 2025, Indra Group reported revenue of €5.457 billion, had a local presence in 46 countries and commercial operations in more than 140 countries.
About SETT
The Spanish Society for Technological Transformation (SETT) is a public business entity under the Ministry for Digital Transformation and Public Administration, dedicated to financing and supporting advanced and transformative digital technologies.
SETT’s investment is channeled through instruments such as the PERTE Chip facility, whose objective is to strengthen the design and production capabilities of Spain’s microelectronics and semiconductor industry within the framework of the Recovery, Transformation and Resilience Plan and the EU’s NextGenerationEU funds. SETT also manages other key instruments, including Next Tech, aimed at supporting strategic Spanish sectors linked to digital transformation, and the Spain Audiovisual Hub, dedicated to the audiovisual sector.
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