Zapata Computing Announces Investment from Honeywell Ventures
(BusinessWire) Zapata Computing has announced a strategic investment from Honeywell Ventures, the venture capital arm of Honeywell. The investment will fuel continued enhancements to Zapata Computing’s platform and increase its ability to support its global customers. Prior to today’s investment, Zapata Computing has been developing quantum solutions in a technical collaboration with Honeywell, which announced plans today to be releasing a powerful trapped-ion quantum computer within the next three months.
Zapata Computing’s platform for quantum-enabled workflows, Orquestra™, combines a powerful software platform and quantum algorithm libraries to deliver real world advances in computational power for applications — particularly in chemistry, machine learning, and optimization — on the latest quantum hardware. Orquestra has sparked significant demand from Fortune 100 and Global 1000 enterprises, enabling users to compose quantum workflows and orchestrate their execution across classical and quantum technologies. Zapata Computing is developing solutions for a wide range of industries including chemistry, logistics, finance, oil and gas, aviation, pharmaceuticals and materials.
“Honeywell’s plan to release an extremely powerful quantum computer with a unique and highly scalable architecture, represents a major technical breakthrough in accelerating quantum capability that will change the dynamics in the quantum computing industry,” said Dr. Christopher Savoie, CEO of Zapata Computing. “We’re excited to continue working together with Honeywell in close technical and commercial collaboration to bring to market quantum solutions that will create significant and impactful commercial value for our partners.”
“Honeywell Ventures looks for leading companies within new breakthrough technology areas, like quantum computing, where Honeywell’s global reach and access to its technologies can accelerate value creation,” said Murray Grainger, managing director and head of Honeywell Ventures. “Zapata Computing shows the promise to be a world leader in quantum computing software and algorithm development. We are excited to help accelerate the adoption of quantum computing as a solution to some of today’s most complex computational problems.”