Quantum computing fridge provider Kiutara raises €13 million ($15.16m) to commercialize its Helium-3-free magnetic cryogenic cooling products for quantum computers.

The round was co-led by international investors NovaCapital and 55 North, with participation from High-Tech Gründerfonds and existing backers.

“This new investment will support Kiutra in expanding our global presence and further advancing our portfolio of easy-to-use and scalable cooling solutions that are vital for the rapidly growing quantum ecosystem,” said Dr. Alexander Regnat, CEO & co-founder of Kiutra.

While most supercooled quantum computers rely on Helium-3 to reach the extremely cold temperatures required to achieve quantum states, Kiutra aims to achieve the same results without using rare helium via magnetic cooling.

The company reaches sub-kelvin temperatures via cooling with paramagnetic solids in a process known as adiabatic demagnetization refrigeration (ADR).

Kiutra has raised more than €30m ($35m) to date in private and public funding. Previous investors include Intel Ignite, Trumpf Venture, Verve Ventures, and the European Union’s EIC Accelerator.

With the new funding, the company said it would be expanding its portfolio with modular platforms tailored for quantum chips and full-stack quantum computers.

Dr. Michael Jobst, Investor at 55 North, a newly launched pure-play quantum fund, said: “Kiutra is perfectly positioned to create value for one of the most critically required enablers in quantum computing: reliable, scalable, and affordable access to cooling power. Their product suite is strongly differentiated from the mainstream market, and we are proud to support the team on their scaling journey.”

Carlo Germano Ravina, MD at Nova Capital, added: “At NovaCapital, we back bold engineering that shapes the future. kiutra’s scalable magnetic cooling technology is not only foundational for quantum tech but also exemplifies the kind of deep tech leadership Europe needs. We’re proud to support their global scale-up.”