ColibriTD Secures €4 Million Seed Round for Quantum-Powered Simulation
ColibriTD, a French quantum software company specializing in multiphysics simulation, has secured €4 million in Seed funding led by Earlybird Venture Capital. The investment also saw participation from SymbiaVC and Medin VC.
This is not the first time Earlybird has backed ColibriTD, having previously invested €1 million in a Pre-Seed round. With this new capital, the company aims to further develop its proprietary Hybrid Differential Equation Solver (H-DES).
ColibriTD's platform utilizes variational quantum algorithms to solve partial differential equations. These algorithms are crucial in various applications such as fluid dynamics, material deformation, and financial risk modeling.
The company has already completed seven co-construction projects across six sectors, including defense, aerospace, space science, semiconductor design, nuclear energy, automotive engineering, and quantitative finance. Its platform is compatible with quantum hardware from providers like IBM, AWS Braket, IQM, IonQ, and Quobly.
Dr. Laurent Guiraud, Co-Founder and CEO of ColibriTD, stated: 'When we founded ColibriTD in 2019, our vision was to move quantum computing past academic theory and deliver tangible business value to industry.' He added that the company has reached an inflection point with its current momentum.
Dr. Frédéric Du Bois-Reymond, Venture Partner at Earlybird Venture Capital, commented: 'Hardware may unlock quantum computing, but software determines where its value is created.'