Seeqc Raises USD 11 Million in Investments
The company is currently developing a new approach to making quantum computing useful via fully Digital Quantum Computing
Fremont, CA: Digital Quantum Computing firm Seeqc raised USD 5 million in a funding round from M Ventures, the strategic corporate venture capital arm of Merck KGaA, Darmstadt, Germany. The company will use the funds to develop commercially viable quantum computing systems for problem-specific applications. The funding round led by M Ventures follows a recent USD 6.8 million seed investment round from investors, including BlueYard Capital, Cambium, NewLab, and the Partnership Fund for New York City.
“The ‘brute force’ or labware approach to quantum computing contemplates building machines with thousands or even millions of qubits requiring multiple analog cables and, in some cases, complex CMOS readout/control for each qubit, but that doesn’t scale effectively as the industry strives to deliver business-applicable solutions,” said John Levy, co-chief executive officer at Seeqc. “With Seeqc’s hybrid approach, we utilize the power of quantum computers in a digital system-on-a-chip environment, offering greater control, cost reduction, and with a massive reduction in energy, introducing a more viable path to commercial scalability."
The company is currently developing a new approach to making quantum computing useful via fully Digital Quantum Computing. The solution combines classical and quantum computing to form an all-digital architecture through a system-on-a-chip design that utilizes 10-40 GHz superconductive classical co-processing to address the efficiency, stability, and cost issues endemic to quantum computing systems. The seed investment round and funding round comes soon after Seeqc spun out off HYPRES, Inc., the world’s leading developer of superconductor electronics, to pursue a vision of making quantum computing useful, commercially and at scale.
From the spin-out, the company was able to acquire significant infrastructure and intellectual property from HYPRES. HYPRES had garnered over USD 100 million from public and private investments to develop a multi-layer commercial superconductor chip foundry and intellectual property. "We believe that the best way to make quantum computing commercially viable is to ensure that early engagement with customers is ultra-focused and problem-specific, with the goal to solve previously insurmountable challenges with a targeted application-specific hardware and software solution," continued Levy. "A close partnership with customers, academic experts, and application developers to work through the early use cases of quantum computing is critical to extracting its novel and potentially world-changing value."