Insights into startup companies in quantum computing
As of 2024, there are several?quantum computing startup companies?making significant strides in this cutting-edge field. We share our insights into the promising startup companies in quantum computing industry.
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Why startup companies should be on your investment radar list
Investing in quantum computing startup companies can be a high-risk, high-reward proposition. Quantum computing represents a significant leap forward in computational capabilities, with the potential to solve complex problems that are currently intractable for classical computers. This includes advancements in fields like cryptography, drug discovery, financial modeling, and optimization problems.
On the upside, if a quantum computing company succeeds, the technology could be revolutionary, and early investors could see substantial returns. Quantum computing could be the next big technology wave, akin to the impact of the internet or mobile technology. Besides some quantum computing companies which are listed on stock exchanges, we would like to highlight some start up companies, which are on our radar list. Below we highlight the most interesting of them:
Multiverse Computing:
This Spanish startup focuses on quantum algorithms and software development.?They aim to harness the power of quantum computing to solve complex problems in areas like optimization, finance, and logistics.
Multiverse Computing is based in San Sebastián, Spain, recognized as a world leader in quantum computing. They specialize in providing hyper-efficient software solutions to companies seeking to gain a competitive edge through quantum computing and artificial intelligence. The company is known for its expertise in quantum computing and quantum machine learning, with strong academic roots as its founders have PhDs jointly awarded by institutions like ICFO (Spain) and the University of Southampton (UK)..
Multiverse Computing was founded in 2019 and has quickly become a key player in the Quantum Computing Software sector, praised by industry giants like IBM. They are also the largest Quantum Software company in the EU and recognized as one of the 100 most promising companies in AI in the world in 2023 according to CB Insights.
Overall, Multiverse Computing stands out as a fast-growing, well-funded deep-tech company with a focus on harnessing the power of quantum computing to solve complex challenges across various sectors. Thus, according to the company’s data in 2022 Multiverse achieved revenue of €2.9 million; in 2023 the company’s revenue reached €10 million. Currently the company looks good financed by its private-equity and Venture Capital investors.
As of 2024,?Multiverse Computing?has secured an oversubscribed €25 million Series A investment round to advance quantum and quantum-inspired computing software.?The round was led by?Columbus Venture Partners?through their SCR, with significant contributions from?Quantonation Ventures?and new investors, including the?European Innovation Council Fund,?Redstone QAI Quantum Fund, and?Indi Partners?among other prominent backers.?In total, there are 19 investors who have invested in Multiverse Computing, including?Audacia,?Columbus Venture Partners,?INDI Partners,?QAI Ventures, and?Redstone VC.
How Multiverse Computing stands out compared to its startup peers
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Riverlane:
Riverlane is working on developing quantum operating systems and software tools. Their goal is to make quantum computers more accessible and user-friendly for researchers and businesses alike.
Riverlane is a British quantum computing startup on a mission to make quantum computing useful far sooner than previously anticipated, potentially heralding an era as significant as the invention of the silicon chip. The company is tackling one of the fundamental challenges in quantum computing: errors. Riverlane has developed a Quantum Error Correction Stack designed to detect and correct errors, which is critical for the practical application of quantum computing.
The company has raised significant funding, including $18.67 million in a Series B round, to drive advancements in practical quantum computing applications. This funding will support the further development of Riverlane’s software and technologies. Additionally, Riverlane has been awarded a ￡2.1 million grant from Horizon Europe to develop its quantum error correction decoder, highlighting the potential impact of their work on the field of quantum computing, according to UK Tech News.
Riverlane’s approach includes translating quantum computers from experimental technologies to commercial products, supported by notable venture capital funds and strategic partnerships. One such partnership includes a significant collaboration with Rolls-Royce and the National Quantum Computing Centre (NQCC) to accelerate materials discovery, which could have far-reaching implications for various industries (Source: Tech.eu).
Moreover, Riverlane has announced the development of the world’s first dedicated quantum decoder chip, and has published its decoder IP, marking a milestone in the company’s contribution to the quantum computing industry. With such advancements, Riverlane is well-positioned to help usher in a new era of computing power.
As of 2024, Riverlane, a quantum computing software developer, has secured funding from several investors. Below we highlight five key investors in Riverlane:
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How Riverlane stands out compared to its startup peers
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Quantum Machines:
Quantum Machines focuses on building control systems for quantum computers. Their platform enables precise manipulation of qubits, allowing researchers to design and execute complex quantum algorithms.
Quantum Machines is a Israeli start-up company that specializes in developing advanced control systems for quantum computers. They offer a complete hardware and software solution that is designed to enhance the control and operation of quantum computers. The company’s Quantum Orchestration Platform (QOP) is built by a world-class multidisciplinary team of quantum scientists and engineers, aiming to power quantum breakthroughs and expedite the path to quantum advantage.
Quantum Machines, founded in 2018, is headquartered in Tel Aviv, Israel. The company has attracted attention and investment, allowing interested angel investors and venture capitalists to invest in this emerging field by purchasing early company shares.
There are in total 23 investors who have contributed to Quantum Machines’ funding. Among the largest angel investors are: 2i Ventures, 2Sky Ventures, Maor Investments, OurCrowd, Ripple Impact Investments.
How Quantum Machines stands out compared to its startup peers
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Alpine Quantum Technologies:
This startup is involved in quantum sensing and quantum communication. They develop technologies that leverage quantum properties for improved measurement accuracy and secure communication channels.
Alpine Quantum Technologies (AQT) is a startup based in Innsbruck, Austria, that’s pioneering the development of quantum computing technology. They are working on creating the first general-purpose quantum computer utilizing scalable trapped-ions technology. This technology has the potential for wide-ranging applicability due to its performance and scalability.
The company was founded in 2018 and builds on over six decades of leading-edge know-how in ion-trap quantum technologies. Their approach involves developing a modular ion-trap quantum computer that boasts a capacity of more than 100 qubits and does not require special cooling, which is a significant advancement in the field.
Additionally, AQT has collaborated with the University of Innsbruck to develop and validate their quantum computer, and has secured contracts to deliver their state-of-the-art systems (AQT News). The startup is also recognized for its participation in various collaborations and partnerships to further the advancements of quantum computing.
AQT represents a significant player in the quantum computing landscape, with its innovative approach and strong foundation in research and development. The company receives sufficient financing from its key shareholders. Below we highlight five of them:
How Alpine Quantum Technologies stands out compared to its startup peers
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