Graduate Ventures Reaches Milestone with 80th Investment in Delft Quantum Startup FrostByte

Graduate Ventures, empowering founders through funding and support, is celebrating its 80th investment. The milestone backing goes to FrostByte, a Delft startup whose technology makes it possible to build quantum computers at a greater scale. The investment is part of a 1.3 million euro funding round, alongside Innovation Quarter, Paeonia Group, UNIIQ, and an angel investor.

Since its founding in 2021, Graduate Ventures has invested in 79 startups from the ecosystems of TU Delft, Erasmus University Rotterdam, and Erasmus MC. The portfolio includes AI startups such as Eddy Grid and Iconic Works, alongside deeptech and climate tech companies including QuantWare, Hydryx, and Back to Battery.

Several portfolio companies have since secured international follow-on funding, expanded globally, and emerged as category leaders, highlighting Graduate Ventures’ ability to support long-term growth beyond the early stages.

Control Electronics for Quantum Computers

The 80th company in the portfolio is FrostByte, a Delft-based quantum startup developing cryogenic chips to solve a key scaling challenge in quantum computing.

By moving control electronics closer to the quantum processor, FrostByte aims to enable more compact, scalable, and energy-efficient quantum systems for the global market.

World-Leading Expertise in Cryo-CMOS

FrostByte is led by James Kroll and Luc Enthoven, with scientific support from internationally recognised cryo-CMOS pioneers Fabio Sebastiano and Masoud Babaie.

“FrostByte is exactly the kind of company that shows what the Dutch knowledge economy is capable of producing,” said Auke van den Hout. The investment aligns with Graduate Ventures’ strategy of backing technologies such as quantum computing, AI, and climate tech that translate fundamental research into industrial applications.

“The Perfect Investor for a Deeptech Company”

“For a deeptech company like FrostByte, Graduate Ventures is uniquely positioned as an investor,” said James Kroll, citing the firm’s understanding of commercialising research-driven technologies and its network of experienced entrepreneurs.

FrostByte is a spin-off from TU Delft and QuTech, one of the world’s leading quantum technology institutes. Graduate Ventures previously invested in QuantWare, another QuTech spin-off that has grown into a major supplier of superconducting quantum chips with customers across more than 20 countries.

On May 5, QuantWare announced a €152 million oversubscribed follow-on funding round led by an international consortium, with Graduate Ventures participating once again.

80 Investments in Five Years

Graduate Ventures was founded in 2021 by alumni of Erasmus University Rotterdam, Erasmus MC, and TU Delft. Backed by a €10 million pre-seed fund and a €50 million seed fund, the firm has completed 80 investments in five years, making it one of the Netherlands’ most active early-stage investors.

Beyond capital, Graduate Ventures supports founders through a network of more than 200 entrepreneurs and investors, facilitating over 600 connections across its portfolio through its “Giving Back” culture.