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Israeli quantum computing firm Classiq raises $110 million in private funding

Economic Times

Economic Times · 2m ago

Israeli quantum computing firm Classiq raises $110 million in private funding

Israeli quantum computing firm Classiq raised $110 million in a funding round led by Entree Capital, increasing its total fundraising to $173 million. Founded in 2020, Classiq is rapidly expanding its customer base, collaborating with major firms like BMW and Microsoft. The startup aims to become a leader in quantum computing software, which promises revolutionary advancements. The sector is attracting significant investments, with tech giants like Google and Amazon entering the arena.

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Spain's Multiverse raises $217 million for compressing AI models

Economic Times

Economic Times · 1m ago

Spain's Multiverse raises $217 million for compressing AI models

Spanish AI firm Multiverse Computing has secured €189 million ($217 million) from investors including Bullhound Capital, HP Inc, Forgepoint Capital, and Toshiba to advance its AI model compression technology. This innovation reduces large language model sizes by up to 95% without performance loss, cutting costs by 80%. The technology mimics quantum systems without requiring quantum computers. With this funding, Multiverse becomes Spain's largest AI startup, joining top European AI startups.

India eyes global quantum computer push — and QpiAI is its chosen vehicle | TechCrunch

TechCrunch · 23d ago

India eyes global quantum computer push — and QpiAI is its chosen vehicle | TechCrunch

QpiAI, an Indian startup, raised $32 million in a funding round co-led by the Indian government to develop quantum computing solutions globally. The funding is part of India’s $750 million National Quantum Mission, which aims to position the country as a leader in quantum technologies. QpiAI, focusing on integrating AI with quantum computing for various industries, plans to launch a 64-qubit quantum computer and expand its presence in new markets.

Infleqtion Raises $100 Million to Develop 1,000-Qubit Atom-Based Quantum Computers by 2031 with SentinelOne Backing | DeepNewz VC

Business Bytes

Business Bytes · 2m ago

Infleqtion Raises $100 Million to Develop 1,000-Qubit Atom-Based Quantum Computers by 2031 with SentinelOne Backing | DeepNewz VC

Infleqtion has raised $100 million to develop 1000-qubit atom-based quantum computers. Meanwhile, start-up Nord Quantique aims to significantly reduce the number of qubits needed for quantum computers to correct their own errors, which typically requires hundreds of thousands of qubits. Despite the progress, numerous challenges persist in advancing quantum computing technology.

Diraq Closes USD $15M Series A-2 Funding

Finsmes · 1y ago

Diraq Closes USD $15M Series A-2 Funding

Sydney-based quantum computing firm Diraq has secured $15m in Series A-2 funding, led by Quantonation. The company plans to use the funds to support research and development efforts for its silicon quantum dot-based processors. Diraq aims to leverage existing silicon manufacturing processes to create faster and more cost-effective quantum processors, with the goal of producing energy-efficient processors containing billions of qubits on a single chip.

Novo Nordisk owner to invest $200 million in quantum computing startups

Economic Times

Economic Times · 1y ago

Novo Nordisk owner to invest $200 million in quantum computing startups

Novo Holdings, the majority shareholder of Novo Nordisk, is planning to invest $200 million in quantum computing startups. Novo Holdings aims to support the development of an ecosystem of quantum computing companies, with a focus on life sciences startups in Nordic countries. Quantum computing has the potential to revolutionize various sectors, including pharmaceuticals and drug discovery, by significantly speeding up scientific calculations. Novo Holdings believes that quantum technology can be transformative and aims to create and grow strong quantum technology companies in the Nordics.

IPV leads pre-seed round in Bloq Quantum

Entrackr

Entrackr · 1y ago

IPV leads pre-seed round in Bloq Quantum

Artificial Intelligence driven quantum software startup Bloq Quantum has raised Rs 1.3 crore in a pre Seed funding round led by Inflection Point Ventures. The startup had previously raised $95.8K from its existing investor. The proceeds will be deployed for product development, team expansion. innovation in quantum algorithms, improve platform functionalities, and expedite growth, Bloq Quantum said in a press release. Co-founded in 2024 by Sreekuttan L S & Jay Patel, Bloq Quantum simplifies enterprise adoption of quantum computing with its user-friendly low-code interface. According to market research, the global quantum computing market was valued at $10.13 billion in 2022 and is expected to exceed $125 billion by 2030, growing at a CAGR of 36.89%. The Kollam-based startup claims to operate globally, providing quantum computing solutions to clients worldwide. It caters to diverse industries and users, and lays emphasis on quantum computing innovations on a global scale.

QNu Labs bags $6.5 Mn to provide quantum technology-based cybersecurity solutions

Inc42 · 1y ago

QNu Labs bags $6.5 Mn to provide quantum technology-based cybersecurity solutions

Quantum-safe cybersecurity firm QNu Labs has raised $6.5 million in a pre-Series A1 funding round led by Ashish Kacholia of Lucky Investments. The funding will be used for expansion and hiring new talent to bolster the company's growth. QNu Labs offers quantum and post-quantum cryptography solutions for data security and privacy against new-age attacks. The firm aims to solidify India's position as a hub for quantum technology and become a key player in global quantum-safe cybersecurity.

Centre may allot Rs 10,000 crore for quantum computing hubs

Economic Times

Economic Times · 1y ago

Centre may allot Rs 10,000 crore for quantum computing hubs

The Indian government is planning to allocate up to Rs 10,000 crore for establishing supercomputing and quantum computing hubs in collaboration with the private sector through public-private partnerships. These hubs will provide access to high-performance computing to startups, MSMEs, and other companies through leases or a "compute-as-a-service" model. The aim is to add 30,000 GPUs in a digital public infrastructure model, with the initial quantum computing hubs to be set up in academic institutions and government R&D centers. The announcement is expected during the Global Artificial Intelligence Summit and Awards.

Israel's Cato networks raises $359 million, valued at more than $4.8 billion - The Economic Times

Economic Times

Economic Times · 1m ago

Israel's Cato networks raises $359 million, valued at more than $4.8 billion - The Economic Times

Israeli cybersecurity firm Cato Networks has secured $359 million in a late-stage private funding round, valuing the company at over $4.8 billion. The financing round included new investors such as Vitruvian Partners and ION Crossover Partners, along with existing investors like Lightspeed Venture Partners, Acrew Capital, and Adams Street Partners. With this latest investment, Cato Networks has raised over $1 billion in total, aiming to redefine enterprise security for the digital and AI era.

ETtech Explainer: Microsoft’s ‘new state of matter’ chips offer a quantum leap in tech

Economic Times

Economic Times · 5m ago

ETtech Explainer: Microsoft’s ‘new state of matter’ chips offer a quantum leap in tech

Microsoft revealed Majorana 1, the first quantum processor using topoconductors instead of semiconductors, signifying a new state of matter. This quantum leap promises million-qubit processing speeds soon, surpassing Google's 105-qubit Willow chip. Quantum computing, leveraging qubits' ability to exist in multiple states simultaneously, offers immense computational power but faces challenges like qubit stability. Microsoft's innovation with Majorana 1, utilizing stable topoconductors, marks significant advancement towards practical quantum computing applications in various fields.

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