BlueQubit raises $10 million to turn Quantum software into real-world applications
Integrating quantum computing into real-world computer applications is an ongoing problem, as platforms are designed radically differently. BlueQubita San Francisco-based quantum software startup founded by Stanford University graduates, thinks it may have the solution.
Its quantum software-as-a-service (QSaaS) platform attempts to address the above problem by providing end users with access to what are known as “quantum processing units” (QPUs) and quantum computing simulators.
To further its mission, it has now raised $10 million in a seed funding round led by Nika Partners. The idea is to marry enterprise applications with advanced quantum devices.
Sectors like finance, pharmaceuticals, and materials science are starting to feel the limits of what’s possible with classical computing, which is why quantum computing is getting a lot of attention lately.
Quantum holds the promise of unlocking new solutions to many intractable problems. Google’s recent announcement of Willow, its latest quantum computing chip, showed a Glance For a world in which computers can perform a calculation, in less than five minutes, that would take one of today’s fastest supercomputers 10 septillion years (that’s a one followed by a lot of zeros).
BlueQubit’s QSaaS framework supports use cases such as financial modeling, drug development, and visualization.
Hrant Gerbien, CEO and co-founder of BlueQubit, told TechCrunch that the company leverages large-scale classical computing resources — specifically, a fleet of GPUs — to develop and test quantum algorithms before deploying them on real quantum processors.
“This approach enables us to effectively scale and pioneer new algorithms for quantum machine learning and quantum optimization,” he said.
Its software suite runs quantum simulators “up to 100 times faster than commonly available alternatives, in addition to a set of algorithms developed by our team,” he added.
MIT graduate Gharibian co-authored the groundbreaking book “Wormhole.” Teleportation algorithmwhich was later carried out by the Google Quantum AI team outlet On their superconducting processor.
BlueQubit’s CTO, Hayk Tepanyan, went to Stanford University and later worked on Google’s infrastructure team. Gharibian and Tebanian met at Stanford University.
“We decided to start the company while sitting on our surfboards in Santa Monica, California, in the spring of 2022,” Gharibian said. “We had just heard a new announcement from the IBM Quantum team about advances in superconducting qubits, and it was clear that the quantum landscape was advancing at an amazing pace.”
“We were looking for a team to invest in that looked to enable financial services companies to hit the ground running once the volume was here,” Tom Brown, partner at Nyca, said in a statement. “Hrant and Hayek have the background, skills and drive to operationalize something that until recently was just a theory.”
Restive, Chaac Ventures, NKM Capital, Presto Tech Horizons, BigStory, Untapped Ventures, Formula VC, and Granatus also participated in this round.
