Lakestar has led a €10 million investment in Terra Quantum, valuing the Swiss startup at around €50 million.
Terra Quantum is developing a hybrid quantum algorithm for solving a linear system of equations in quantum computing, helping companies in various industries like the pharmaceutical industry to develop drugs faster. It will use the funds to build infrastructure and software solutions.
Founded in 2012, Lakestar is a venture capital firm headquartered in Zurich, Switzerland.