Data science

Top Recent Quantum Computing Funding to Know About

Annual funding report on these quantum computing start-ups.
Quantum computing is a fundamentally different approach to computation compared with the kinds of calculations that we do on today’s laptops, workstations, and mainframes. It won’t replace these devices, but by leveraging the principles of quantum physics it will solve specific, typically very complex problems of a statistical nature that are difficult for current computers. Several new startups are built up to research more on quantum computing and here are some of the top fundings they have received over the year.

 

Quantum Brilliance
Quantum Brilliance, a venture-backed Australian-German full-stack quantum accelerator startup, today announced closing a USD$9.7 million seed investment co-led by the QxBranch founders’ and Main Sequence investment consortium. Quantum Brilliance harnesses synthetic diamonds to build quantum accelerators that do not require near absolute zero temperature or complex laser systems to operate like mainframe quantum computers. Quantum Brilliance is one of only a few companies worldwide already able to deliver quantum computing systems for customers to operate on-site today. Quantum Brilliance is actively hiring for 20 roles including VP of Engineering and scientists, physicists, software engineers, and control engineers to support the research, development, engineering, and production of the company’s quantum computing technology. The company’s projected roadmap to provide quantum accelerators the size of a lunchbox with over 50 qubits by 2025 will greatly accelerate the adoption of useful quantum applications across a variety of sectors. Quantum accelerators can be deployed wherever classical computers are used such as satellites, vehicles, hospitals, and robotic systems. The seed round also featured participation from CP Ventures, Investible, Jelix Ventures, MA Financial (formerly Moelis Australia) Growth Ventures Fund, R3I Ventures, and Ultratech Capital Partners.

 

Paderborn University
The Ministry of Culture and Science of the State of North Rhine-Westphalia (MKW NRW) is creating scope for developing forward-looking research topics and sustainably boosting the competitiveness of the institutions involved. Around a million euros in annual funding are being provided per project. Building on available strengths, potential areas will be expanded to help further develop the research profile. Paderborn University has now been successful with an application for the ‘photonic quantum computing’ potential area. Within this, scientists are taking an interdisciplinary approach to creating a photonic quantum computer. In the future, every step will take place at a single site, from fundamental research into new quantum algorithms to modeling large, complex quantum systems to implementing photonic quantum networks for relevant computing applications. The project also seeks to train a new generation of outstanding researchers in the field of quantum computing, with gender equality as an ongoing concern. This profile area should establish Paderborn as an internationally visible center for photonic quantum technologies.

 

Quantum Machines
Israeli startup Quantum Machines has raised $50 million in a Series B round of funding, bringing its total funding to date to $73 million. The latest round was led by Red Dot Capital Partners with the participation of Exor, Claridge Israel, Samsung NEXT, Valor Equity Partners, Atreides Management LP, and joined by TLV Partners, Battery Ventures, Altshuler Shaham as well as other existing investors. “Quantum computing does not promise us better computing. It promises impossible computing,” Itamar Sivan, Quantum Machines co-founder and CEO of told me late last year. Impossible computing has attracted last year $365 million in VC funding, entrepreneurs launching new startups, and increased investment in quantum computing products and services by established companies.

 

Scout Ventures
Scout Ventures wants to act as the bridge between the startup world and that vast science and technology workforce, with a particular focus on veterans of the military, intelligence agencies, and national labs. Founded about a decade ago in 2012 by Brad Harrison, the firm raised two funds and invested in several dozen companies at the earliest stages, including identity verification platform ID.me (now valued at $1.5 billion), men’s subscription service Bespoke Post and youth sports management platform LeagueApps. It also incubated companies like health services company unite Us. The firm announced this morning that it has raised a $55 million third fund, which will continue its focus on backing veterans while centering its investment thesis on frontier tech in areas like machine learning, robotics, drones, physical security, quantum computing, and space (that said, the firm does not invest in weapons). Harrison, who has been a long-time angel investor prior to forming Scout Ventures and is a West Point grad and Army Airborne Ranger, said that when he started to look at the track records of the most successful founders he backed, many of them happened to be veterans. So, he started doubling down on that thesis, eventually hiring Wes Blackwell who graduated from the Naval Academy, and Sam Ellis in Brooklyn from West Point as his co-partners.

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