TechCrunch Startup News Quantonation’s double-sized second fund shows quantum still has believers; plus. Ali Partovi’s Neo looks to upend the accelerator model
Feb 23, 2026
A big fundraise for quantum startups shows investors still back physics-based tech. Discussion of picks-and-shovels opportunities like quantum infrastructure and error correction progress. Coverage of a new residency program offering uncapped SAFE investments and student grants. Comparison of alternative accelerator economics and how new formats signal to later investors.
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Quantum Funding Momentum Persists
- Quantonation closed an oversubscribed €220M second fund, more than double its first fund, signaling sustained investor belief in quantum startups.
- Fund2 already invested in 12 startups and targets ~25, expanding into software, photonics, lasers, and picks-and-shovels plays like Qblox.
Quantum Ecosystem Is Broadening Beyond Chips
- Investors now see more varied opportunities beyond chips, including control hardware, software, and industrial layers that support quantum labs.
- Quantonation cites Qblox as an example of a company selling control hardware pre-Series A to portfolio teams.
Back Early To Capture Deep-Tech Value
- Invest early in specialized deep-tech areas to capture more value because teams, markets, and technologies are nascent and complex.
- Quantonation's thesis is to back early-stage founders in hard quantum domains where VCs find technical evaluation difficult.