Quantum computing deals show no sign of slowing in 2022
(Verdict.co.uk) Quantum computing deals show no sign of slowing in 2022. Mergers, venture capital, and partnerships have occurred across the world, demonstrating investor and industry interest in the technology and its expanding ecosystem. The industry recently witnessed its third SPAC merger, as D-Wave announced its intention to go public.
Notably, however, there have been no acquisitions. Big Tech and larger companies, despite investing heavily in quantum computing, have so far relied on partnerships and strategic investments to improve their standing.
Venture capital is being poured into innovative startups from China, India, Germany, UK, US, and Canada. This is occurring despite many companies predicting long periods before becoming profitable. The potential reward from grabbing market share and being the first to realize quantum advantage is extremely attractive.
Canada-based D-Wave Systems announced in February that it will merge with DPCM Capital, a Special Purpose Acquisition Company (SPAC). This is the third quantum computing SPAC after IonQ and Rigetti Computing went public in 2021.
In January, Pasqal announced it was merging with Qu&Co. Pascal develops neutral atom-based quantum hardware, while Qu&Co is a quantum algorithm and software developer. The new company will operate across the quantum computing value chain,
Venture capital in quantum computing is continuing to grow. In 2021, both PsiQuantum and Xanadu received large investments. Deals are occurring across the value chain, in both software and hardware. Investors’ willingness to invest in its niche technology demonstrates that the quantum ecosystem is expanding.
UK-based cybersecurity startup PQShield secured $20 million in January. QuNu Labs, an India-based quantum cybersecurity company, also received capital. HQS Quantum Simulations received investment in January. It is a German-based quantum software company that specializes in chemical and material science applications and will use the funds to expand its cloud platform. Finland-based QuantrolOx uses machine learning to help tune, stabilize, and optimize qubits.
In January, Menten AI and Xanadu Quantum Technologies announced a partnership. Menten AI is a biotechnology company, and it will use Xanadu’s open-source PennyLane library to improve the design of drug molecules. Partnerships are also occurring in the finance, energy, and defence sectors. For example, JPMorgan Chase has partnered with Toshiba and E.ON has partnered with IBM Quantum.