Quantum computing is a technique that uses the laws of quantum mechanics and applies them to solve problems that are otherwise intractable in the world of classical computing.
We have seen not only a number of new startups flourish in recent years, but the funding they have raised, as well as funds launched with the goal of supporting the development of quantum technologies, confirm that the sector is not only reaching scientific, but commercial application potential.
24 on Th May Tech.eu summitwe sit down with Sabrina Maniscalco, co-founder and CEO at Algorithmiq, Dr. Jan Goetz, CEO and co-founder at IQM Quantum Computers, and Markus Pflitsch, co-founder and CEO at Terra Quantum to discuss the future of quantum computing and, perhaps more importantly, where Europe takes its place in the quantum race.
Algorithmiq – Finland
Algorithmiq is a company that develops advanced algorithms to solve complex life science problems on near-term quantum computers. Founded in 2020, the company is on a mission to revolutionize life sciences by harnessing the potential of quantum computing to solve problems that are currently inaccessible.
In 2022, the company raised $4 million to advance the company’s mission to develop noise-tolerant quantum algorithms for a wide range of practical applications, starting with drug development.
Sabrina Maniscalcoco-founder and CEO at Algorithmiq will join us on May 24 at Tech.eu summit to talk about the potential of quantum computing in today’s environment.
Terra Quantum – Switzerland
Founded in 2019, Terra Quantum develops revolutionary quantum applications to shape the technology of the future. The company seeks to address the most fundamental questions about quantum physics and its manifestations in the world by bringing together science, academia and industry.
It provides “Quantum as a Service (QaaS)” in three core areas which are Quantum Algorithms as a Service, Quantum Computing as a Service and Quantum Security as a Service.
Earlier this year, the company received financing from the global equity fund Investcorp.
Tech.eu summit we will host the company’s co-founder and CEO Markus Pflitsch to discuss the company’s visions and future plans for quantum computing and in Europe in general.
IQM Quantum Computers – Finland
IQM Quantum Computers is a Finnish startup that builds superconducting quantum computers for data centers, research institutes and companies. For industrial customers, the company delivers a quantum advantage through a unique application-specific, co-designed approach.
The company’s creative approach is to bring application-specific problem solving to various industries and customers, by combining hardware and software design in the development of quantum processors.
In July 2022, the company raised €128 million in Series A2 with the aim of further accelerating the construction of superconducting quantum computers.
The company’s CEO and co-founder
Dr Jan Goetz will join us on Tech.eu summitto talk about the challenges and opportunities of quantum computing in the European tech ecosystem.
Sparrow Quantum – Denmark
Sparrow Quantum is a Danish quantum technology company dedicated to developing light-matter interfaces for quantum technologies. The company is widely recognized as a leader in single-photon sources, demonstrating the world’s highest efficiency in the coupling of light and matter.
Earlier this month, the company raised €4.1 million to expand its team and expand its products and services.
Pascal – France
PASQAL builds quantum computers from ordered neutral atoms in 2D and 3D arrays to give its customers a practical quantum advantage and solve real-world problems. The company was founded in 2019 and has so far raised over 125 million euros.
With its latest €100 million Series B funding round, the company will further develop its research and development efforts to build a 1,000-qubit quantum computer in the short term and fault-tolerant architectures in the long term.
QuantWare – The Netherlands
QuantWare is a company that develops, designs and manufactures superconducting quantum processors. Their mission is to accelerate the advent of the quantum computer by making quantum hardware available to everyone.
In March 2023, the company raised 6 million euros. The funds will be used to scale the team size to support the production and development of the company’s new 64 qubit ‘Tenor’ processor.
Quanscient – Finland
Quanscient is the Finnish provider of multiphysics simulation technology powered by cloud and quantum computing. Founded in 2021, the company offers fully digital R&D processes with a combination of built-in multiphysics algorithms, advanced cloud computing and the prospect of future quantum integration.
In April 2023, the company raised 3.9 million euros to further accelerate product development and expansion.
Alice & Bob – France
Founded in 2020 as a spinout from the French Academy, Alice & Bob is on a mission to build a large-scale, fault-tolerant quantum computer. The company’s self-correcting quantum bits enable fault-tolerant quantum computing and can run any quantum algorithm.
In 2022, the company raised 27 million euros for further development of a fault-tolerant quantum computer.
ORCA Computing – UK
ORCA Computing is developing full-stack photonic quantum computers to unlock new application areas and help transform industries. By combining proprietary technology with common telecom components, the company offers a unique approach to deliver performance, scalability and usability to begin addressing use cases such as machine learning and optimization.
In its most recent funding round, in June 2022, the company raised $15 million.
Quantum Motion – UK
Founded in 2017, Quantum Motion is a spin-out of UCL and Oxford University. The company is working on patented technology (silicon-spin-based qubit architectures) that makes it possible to build a functional, ‘fault-tolerant’ quantum computer at a reasonable size that could be manufactured on a large scale.
In February 2023, the company raised £42 million in a Series B round.
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