A German startup spun out of a famed Munich research university whose tech helps semiconductor firms test out products and find defects has raised €15m in equity funding.
The new equity funding in QuantumDiamonds complements a previously announced €76m in EU-backed state funding in the startup, making €91m in total.
QuantumDiamonds, which was spun out of the Technical University of Munich (TUM), will use the funds to scale production of its technology.
The €15 million equity round was led by climatetech investor World Fund, a new investor. Other equity investors were German VC Bayern Kapital, alongside the startup's existing investors IQ Capital, Earlybird, First Momentum, UnternehmerTUM, Creator Fund, Onsight Ventures, and angel investors.
The €76 million in state aid is in non-dilutive funding, which means the funders don’t take equity. It comes from the German Federal Ministry for Economic Affairs and Energy and the Free State of Bavaria.
