Quantum News Briefs January 24: PASQAL raises €100 Million Series B funding to advance neutral atoms quantum computing; TRUMPF Venture makes multimillion euro investment in quantum tech startup Quside; Learning from the Atom-Based Quantum Computer + MORE
PASQAL raises €100 Million Series B funding to advance neutral atoms quantum computing
Other new investors include the European Innovation Council (EIC) Fund, Wa’ed Ventures and Bpifrance, through its Large Venture Fund. Continuing investors include Quantonation, the Defense Innovation Fund, Daphni and Eni Next.
PASQAL’s technology was built upon the Nobel Prize-winning research of company co-founder Alain Aspect. PASQAL will use the funding to further develop its neutral atoms quantum computing platform, which it believes will deliver major commercial advantages over classical computers by 2024.
With the new funding, PASQAL plans to accelerate the company’s research and development efforts to build a 1,000-qubit quantum computer in the short term and fault-tolerant architectures in the long term. The company also plans to increase the production of its quantum systems for on-premise installations as well as expand the development of proprietary algorithms for customers across key verticals including energy, chemistry, automotive, mobility, healthcare, enterprise technology, finance and government.
PASQAL will also use the funding to expand its global footprint. The company plans to open offices in the Middle East and Asia this year in addition to growing its existing operations in Europe and North America. PASQAL plans to double its current team of 100 employees this year. Click here to read Eureka Alert announcement in-entirety.
TRUMPF Venture makes multimillion euro investment in quantum tech startup Quside
The company’s core product is a high performance random number generator located in a photonic chip. Using the quantum mechanical properties of light, it produces completely random number combinations very quickly (Gb/s). This makes it possible to improve the encryption of messages enormously. It can also be used to perform simulations such as risk analyses in the financial sector or weather forecasts much faster and with far greater energy-efficiency. The chip is compatible with common semiconductor manufacturing (CMOS), which enables easy mass production.
Quside is based in Castelldefels near Barcelona and currently employs around 30 people. Founded in 2018, the startup’s first customers are from sectors with high security requirements, such as aerospace. The company plans to expand into the consumer market in the coming years, to use chips to increase the security of smartphones, tablets or even vehicles.
Quside’s chip enables the encryption of messages that even computationally powerful quantum computers cannot decrypt. In addition to encryption, Quside’s random number generator also enables a faster and more energy-efficient calculation of simulations. Click here for complete news announcement.
Learning from the Atom-Based Quantum Computer
Qkrishi and Indian Institute of Information Technology Kottayam (IIITK) sign MoU to foster research in Quantum Finance
Qkrishi Quantum Private Limited and the (IIITK) have signed a Memorandum of Understanding to conduct research in quantum finance. Quantum News Briefs summarizes from Digital Journal.
As part of this MoU, Qkrishi and IIITK have agreed to jointly initiate research and development projects related to Quantum Technology, share technical expertise and knowledge, and collaborate on academic and professional development programs.
“The MoU will enable us to tap into the advanced quantum computing talent at IIITK to tackle important technological problems faced by the financial industry. Quantum computing could allow faster, and more accurate decision-making and we hope to develop cutting-edge techniques by collaborating with the faculty and students of IIITK,” said Mr. Sreekuttan L. S., Research Scientist and Head of Products at Qkrishi.
“Today there is a need for industry and academia to work closely to make faster impact in the technology landscape. Through this MOU we want to build a successful industry-academia collaboration in Quantum Computing. IIITK is one of the few institutions in India with deep expertise in quantum computing and through this collaboration with Qkrishi we want to apply our expertise to solve real business problems,” said Dr. Rubell Marion Lincy George, Assistant Professor, IIITK. Click here to read Digital Journal article in-entirety.
Sandra K. Helsel, Ph.D. has been researching and reporting on frontier technologies since 1990. She has her Ph.D. from the University of Arizona.