Dutch quantum company QuantWare raises $178 million from Intel and others

Dutch quantum processor company QuantWare has raised $178 million in new financing, including funding from Intel Capital, it said on Tuesday, as Europe tries to keep up pace with tech ‌leading ⁠companies from ⁠the U.S. and China.

Quantum computers will make data processing considerably faster than via conventional computing, and the sector could be worth trillions of dollars in the next decade, according to consultancy firm McKinsey.

QuantWare, headquartered ⁠in the ‌Dutch town of Delft, said the funds would finance a planned ⁠increase in its production.