Spain has put a structure around its quantum ambitions. Qilimanjaro Quantum Tech, a Barcelona startup building full-stack quantum computers, has completed a 19.6 million euro (about $21.3 million) first close of its Series A round. Indra Group, the Spanish defense and technology multinational, led the round with 10 million euros (about $11.2 million) invested through its AI subsidiary IndraMind. The Spanish Society for Technological Transformation, a public fund under the digital transformation ministry, renewed its backing with 9.6 million euros (about $10.5 million), channeled partly through the PERTE Chip facility funded by NextGenerationEU money.
Indra is more than a financial investor. It will act as a technology partner, working with Qilimanjaro on quantum applications combined with AI and cybersecurity, and it gives the startup distribution into transportation, logistics, emergency management and network optimization markets. Indra reported 5.46 billion euros of revenue in 2025 and operates in more than 140 countries. Qilimanjaro chief executive Marta Estarellas said the round remains open and described the pairing as sovereign capital plus industrial capital, structured to keep Spanish quantum technology growing in Spain.
The company, founded in 2019, employs 80 people and has deployed eight quantum systems, three of them at the Barcelona Supercomputing Center, including what it describes as Europe’s first analog quantum computer integrated into a supercomputing hub. It builds its machines on superconducting fluxonium qubits and is now adding digital quantum chips to a roadmap that began with analog systems needing less error correction.
The deal is small in absolute money. Its significance is the model: public fund, national champion and startup bound together explicitly on sovereignty grounds, the same pattern visible in European semiconductor and AI programs this year.