Quantum computing is a technology that uses the laws of quantum mechanics and applies it to solving problems that are, well, otherwise unsolvable in the world of classical computing.
We’ve seen not only a number of new startups blossom in recent years, but the funding they’ve collected, 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.
On 24th of May at Tech.eu Summit, we’re sitting 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 what the future of quantum computing holds 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 problems in life sciences on near-term quantum computers. Founded in 2020, the company’s mission is to revolutionise life sciences by exploiting the potential of quantum computing to solve currently inaccessible problems.
In 2022, the company raised $4 million to further the company’s mission to develop noise-resilient quantum algorithms for a wide range of practical applications, starting with drug development.
Sabrina Maniscalco, co-founder and CEO at Algorithmiq will join us on 24th May at Tech.eu Summit to talk about the potential of quantum computing in today’s environment.
Terra Quantum – Switzerland
Founded in 2019, Terra Quantum is developing revolutionary quantum applications to shape the technology of the future. The company tries to address the most fundamental questions of 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 that are Quantum Algorithms as a Service, Quantum Computing as a Service and Quantum Security as a Service.
Earlier this year, the company received funding from the global equity fund Investcorp.
At Tech.eu Summit we will host the company’s co-founder and CEO Markus Pflitsch to discuss the company’s visions and plans for future of the quantum computing and generally in Europe.
IQM Quantum Computers – Finland
IQM Quantum Computers is a Finnish startup that builds superconducting quantum computers for data centres, research institutes and businesses. For industrial customers, the company delivers a quantum advantage through a unique application-specific, co-design approach.
The company’s creative approach is to bring application-specific problem-solving to different 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 to further speed up building superconducting quantum computers.
The company’s CEO and co-founder Dr. Jan Goetz will join us at the Tech.eu Summit, to 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 advancing light-matter interfaces for quantum technologies. The company is widely recognized as a leader in single-photon sources, demonstrating the world’s highest light-matter coupling efficiency.
Earlier this month, the company raised €4.1 million to expand its team and increase its products and services.
Pasqal – France
PASQAL builds quantum computers from ordered neutral atoms in 2D and 3D arrays to bring a practical quantum advantage to its customers and address real-world problems. Founded in 2019, the company raised over €125 million to date.
With their last €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 – Netherlands
QuantWare is a company that develops, designs, and fabricates superconducting quantum processors. Their mission is to accelerate the advent of the Quantum Computer by making quantum hardware accessible to all.
In March 2023, the company raised €6 million. The funds will be used to scale the team size in order to support the production and development of the company’s new 64 qubit processor ‘Tenor’.
Quanscient – Finland
Quanscient is the Finnish cloud and quantum computing-powered multiphysics simulation technology provider. Founded in 2021, the company offers fully digital R&D processes using a combination of native multiphysics algorithms, advanced cloud computing, and the prospect of future quantum integration.
In April 2023, the company raised €3.9 million to further accelerate product development and expansion.
Alice & Bob – France
Founded in 2020 as a spinout from French academia, 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 for further development of a fault-tolerant quantum computer.
ORCA Computing – UK
ORCA Computing develops full-stack photonic quantum computers with the aim of unlocking new fields of applications and helping transform industries. By combining proprietary technology with off-the-shelf telecom components, the company provide a unique approach to deliver the performance, scalability and usability to begin addressing use cases such as machine learning and optimization.
In their last 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 in a reasonable size that could be manufactured at scale.
In February 2023, the company raised £42 million in a Series B round.
