Taylor Wessing provided comprehensive legal advice to the EIC (European Innovation Council) Fund and NRW.BANK on their respective investment in the quantum computing scale-up eleQtron GmbH as part of a € 57 million Series A financing round, one of the largest Series A funding rounds in quantum computing worldwide.
The investment was led by Schwarz Digits, the IT and digital division of Schwarz Group. Additional investors include Earlybird, Ankaa Ventures, Precitec and IFB Innovationsstarter. The EIC Fund's investment was made as an equity investment under the Horizon Europe Programme.
eleQtron, founded in 2020 as a spin-off from the University of Siegen, develops trapped-ion quantum computers designed for industrial and scientific applications. The company’s MAGIC (Magnetic Gradient Induced Coupling) technology enables highly precise control of trapped ions using miniaturised microwave technology, providing a clear path toward scalable quantum computers. This funding round marks a significant step towards the industrial scaling of eleQtron’s technology and underscores the growing momentum in the global race to commercialise quantum computing. It further strengthens eleQtron’s position among Europe’s leading quantum computing scale-ups.
The EIC Fund is the special fund of the European Innovation Council and thus the European Commission's central venture capital investment vehicle. It serves to implement the European Commission's EIC Accelerator Programme and receives investment advice from the European Investment Bank. As a specialised investor, the EIC Fund provides venture capital financing to support European deep tech innovations. The EIC was established in the context of the pilot project ‘Horizon 2020 – the Framework Programme for Research and Innovation’ and was successfully continued in 2021 with the launch of the ‘Horizon Europe Programme’. With a duration from 2021 to 2027 and a total budget of up to €95.5 billion, it is one of the largest funding programmes for research and innovation worldwide. By 2026, the EIC Fund has supported a total of over 330 deep tech companies with direct investments, mobilising private co-investments of over €2.9 billion.
NRW.Venture fund is a fund of NRW.BANK and provides funding to young, innovative, and often technology-driven companies that typically cannot rely on traditional loans. NRW.Venture invests up to €15 million in equity across multiple funding rounds, in partnership with private investors. It focuses on minority stakes over a period of three to seven years in companies that have already completed early-stage financing, such as seed rounds, business angel investments or initial venture capital funding. Beyond capital, NRW.Venture provides significant strategic value through its experienced team. Its investment professionals bring extensive venture capital, technological, and entrepreneurial expertise, supporting start-ups with valuable know-how and networks to maximize their chances of success.
Legal advisors to EIC Fund and NRW.BANK
Taylor Wessing Germany: Dr Carolin Roßkothen (lead, Hamburg) and Corvin Gutzeit, (Berlin) (both Corporate/M&A); Franziska Ley (Trademarks, Advertising and Design, Hamburg); Sarah Köppen (Technology, Media & Telecoms, Hamburg) and Niklas Adam (Employment, Pensions & Mobility, Berlin).
