TRUMPF Venture invests in the quantum technology start-up Kiutra, which develops special cooling systems for ultra-low temperatures.
What makes it special is that Kiutra's magnetic cooling system does not require expensive and rare liquid gases. Such cooling systems play a particularly important role in the research and development of quantum technologies. With its compact and highly automated coolers, Kiutra is experiencing growing commercial success and making a valuable contribution to the global advancement of quantum technology. »Quantum technologies such as detectors often require temperatures close to absolute zero of -273 degrees Celsius. With this investment, we are helping to advance research and development of quantum technology as a whole«, says Dieter Kraft, Managing Director of TRUMPF Venture. Kiutra was founded in 2018 as a spin-off of the Technical University of Munich. The start-up employs 16 people.
Expansion of production capacities
The investment comes as part of a second round of financing led by new shareholders TRUMPF Venture and Swiss deep-tech VC Verve Ventures. Together with existing investors High-Tech Gründerfonds (HGTF), APEX Ventures and the Initiative for Industrial Innovators, the companies are investing a mid-seven-figure sum. Kiutra intends to use the new capital to expand production capacities and increase the number of employees. It will also be used to further develop the company's products for the growing quantum technology market.
TRUMPF GmbH + Co. KG (Holding)