VC firm CerraCap talks up investment in Singapore’s Entropica Labs
CerraCap Ventures, an early stage venture capital firm based in Costa Mesa, said it participated in the $4.7 Series A funding round announced in recent days by Singapore’s Entropica Labs, a start-up building optimization software for quantum computers.
That round was led by Italian VC firm Liftt and Wavemaker Partners, and included several other investors. News of the investment comes about two months after five-year-old Entropica unveiled a plug-in to allow its open-source OpenQAOA software to be used with the Amazon Braket cloud-based quantum computing service. OpenQAOA also has been available for Rigetti Computing’s cloud service.
CerraCap Ventures Partner Vikas Datt, who is joining the Entropica Labs board as an observer, stated, “We are excited to join Entropica Labs on their quantum computing journey. Their innovative approach and steadfast dedication to tackling pivotal challenges harmonize perfectly with CerraCap’s investment principles. Entropica Labs stands at the cusp of molding the quantum computing future, and we eagerly anticipate working with them in this groundbreaking endeavor.”
Entropica Labs CEO Dr. Tommaso Demarie added, “CerraCap’s investment is a significant endorsement of our vision and capabilities. Their Sales and Scale model [a five-step industrialization process touted by the VC firm], coupled with a commitment to supporting portfolio companies, will be invaluable to us in the US market.”
Some concern arose regarding the health of Singapore’s quantum sector earlier this year in connection with President Biden’s efforts to limit technology investments in China, but Demarie said at the time that this made it more important for quantum technology firms in the region to focus on internal development.
Dan O’Shea has covered telecommunications and related topics including semiconductors, sensors, retail systems, digital payments and quantum computing/technology for over 25 years.