QuantumDiamonds raises €91M in an EU Chips Act first

Munich startup QuantumDiamonds has raised €91M — €15M in equity led by World Fund and €76M in EU Chips Act state aid — making it the first startup to receive manufacturing funding under the European Chips Act. The company uses atomic defects in lab-grown diamonds to sense magnetic fields, enabling 3D nanoscale imaging of electrical currents inside chips without damaging them. Its QDm.1 product can locate buried defects in advanced 3D chip packages that optical and X-ray tools miss. Already working with nine of the world's ten largest chipmakers, the company plans to build a €152M facility in Munich and double its engineering team. Investors are comparing its potential to ASML, framing it as a European semiconductor sovereignty play in a chip inspection market projected to reach $10.9bn in 2026.

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Dr Ilana Wisby joins Cambridge Innovation Capital as Entrepreneur in Residence

Cambridge Innovation Capital (CIC) has appointed Dr Ilana Wisby, founding CEO of Oxford Quantum Circuits (OQC), as Entrepreneur in Residence. During her seven years at OQC, Wisby launched Europe's first Quantum Computing as a Service product, delivered 32-qubit systems into commercial data centers, achieved a 55x valuation increase, and raised over $100 million in funding. In her new role, she will work within CIC's deep tech team to explore real-world quantum computing applications and help translate scientific research into commercial ventures. CIC's EIR programme connects experienced deep tech executives with high-potential IP and founders to accelerate commercialization.

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