TQI QuickBits: From A's to Seeds, 2 B+ for South Korea... And More Quantum News
The Quantum Insider
Making Quantum Technology accessible through media, news, insights and data
A big round of congratulations to a bunch of quantum startups.
Algorithmiq notched a $15 million Series A to continue using quantum for drug discovery acceleration. Molecular Quantum Solutions , which received €600,000 in a pre-seed fundraise. MQS -- as those in the know call it -- is in the pharma-chemical use case sweet spot, too.
Taking a step back. More and more experts see a market match between what quantum does well, such as simulations, and what is desperately needed in the market. And could there be any more desperate need than cheaper, more effective drugs that treat some of the world's most deadly diseases and conditions? (That's rhetorical, by the way.)
Let's look at another world-changing use case, shall we? We could argue that in an energy-starved society energy isn't the problem. We're saturated with energy. It's energy storage that's the problem. Planckian -- which received €2.7 million in funding this week -- is hoping to use quantum batteries to provide a solution to the energy storage problem and -- recognizing that the following might sound hypey -- that could be a step toward making the climate cleaner and more sustainable.
We congratulate them on their fund-raising efforts and wish them the best on their missions.
The world is depending on them.
So. No pressure.
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Quantum Quotes
Planckian raised over €2.7 million in pre-seed funding to investigate quantum battery development. The co-founders weigh in on their focus for quantum.
“Interest in the new frontiers of quantum physics, particularly in the field of so-called quantum thermodynamics, and the study of unconventional properties of quantum materials, has never been so strong. We believe the time has come to develop new technologies for energy management that can exploit the unique properties of quantum mechanics. We consider this a challenging and ambitious endeavor, for which we are pleased to benefit from the support of a global community of scientists and innovators." -- Marco Polini (CSO and Co-founder) and Vittorio Giovannetti (Executive Scientific Advisor and Co-founder)."
Molecular Quantum Solutions had a good week, too. Scale Capital , Rockstart and Stokbro Invest announced a €600,000 investment in that startup.
“Increasing computing power will play a pivotal role in tackling global issues and shortcutting its time to market can significantly contribute to worldwide problem-solving. We invested in Molecular Quantum Solutions (MQS) to streamline computing power and drive change in Industry 4.0 & advanced analytics development. The MQS team works relentlessly to build highly complex quantum chemistry solutions in the space of supercomputing and quantum computing and we’re excited to have joined their journey early on.†— Michael Bj?rnlund , Managing Partner, Rockstart Emerging Tech
Quantum Research
Researchers from the Macroscopic Quantum Matter Group laboratory at the University College Cork (UCC) have discovered a spatially modulating superconducting state in a new and unusual superconductor Uranium Ditelluride (UTe2). The suggestion is that this new superconductor could be used as a topological quantum computer.
You can read the paper in Nature.
Quick Looks
Data can help us look at things as they are. Can this information provide a glimpse into the future? The answer... maybe. The Quantum Insider Intelligence Platform does offer you the ability to compare time periods and possibly see trends that are happening in the market.
QuickBits
South Korea has unveiled a strategic plan to invest more than 3 trillion won ($2.33 billion) in quantum science and technology with the aim of establishing itself as a global leader in the field, according to the South Korean news site Pulse. The announcement came from Science and ICT Minister Lee Jong-ho during a conference on quantum technology and science.
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Algorithmiq, a scaleup developing quantum algorithms to solve the most complex issues in life sciences, has raised $15 million. The Series A round is led by Inventure VC, one of the most experienced Nordic venture funds. Also participating in the round is Tesi, the state-owned Finnish investment company, Presidio Ventures, the corporate venture capital arm of Japan’s Sumitomo Corporation, and London-based Thames Trust, together with existing backers.
Rockstart, global early stage VC and accelerator, announces its co-investment in Molecular Quantum Solutions, a Rockstart Emerging Tech portfolio company. The €600k round was led by Scale Capital, alongside Rockstart and Stokbro Invest. With the new funding, Molecular Quantum Solutions (MQS) plans to convert the tool stack they have developed to a SaaS solution for the pharma and chemical industry.
Planckian, the world’s first company committed to developing quantum batteries, is announcing today it raised over € 2.7 million in pre-seed funding in a round led by Eureka! Venture, with the participation of CDP Venture, Exor Ventures and strategic angel investors.
SandboxAQ, an enterprise SaaS company delivering AI and Quantum (AQ) technology to governments and the Global 1000, today announced it has been awarded the Prototype Quantum Resistant Cryptography Public Key Infrastructure Other Transaction Authority Agreement by the U.S. Defense Information Systems Agency (DISA).
Rensselaer Polytechnic Institute Plans to Deploy First IBM Quantum System One on a University Campus
Rensselaer Polytechnic Institute announced it will become the first university in the world to house an IBM Quantum System One. The IBM quantum computer, intended to be operational by January of 2024, will serve as the foundation of a new IBM Quantum Computational Center in partnership with Rensselaer Polytechnic Institute (RPI).
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