Quantum computing startup SEEQC received $30 million investment

Quantum computing initiative SEEQCreceived an investment of 30 million dollars. Booz Allen Ventures ve NordicNinja tour led by SIP Capitalas well as existing investors EQT Ventures, M Ventures (Merck), BlueYard Capital, FAM ve Asset Management participated.

This new investment will support the startup to expand its capabilities while accelerating the commercial rollout of its chips. SEEQC CEO John LevyAccording to stated; The investment offers a combination of financial, geographical and strategic strengthening.

Field of activity of the enterprise

Chip company SEEQC, Hypres It started its life as a spinout of the company. At this point, we should point out that Hypres was founded by former employees of IBM’s superconducting electronics department. The name of the startup, which was founded in 2019, is actually an abbreviation for “Scalable, energy-efficient quantum computing”. One of Nvidia’s partners in quantum development One, SEEQC, is exploring how to best leverage classical computing to drive quantum processors.

According to SEEQC; The key to reducing the complexity of today’s quantum hardware is to have chips that can power all the basic functions of a quantum computer. In this context, it is possible to control many qubits with a single cable.

The rapid advancement of artificial intelligence highlights the critical need for more energy-efficient data centers that quantum can make a reality. With quantum technology, new applications such as accelerating the development of new drugs are also coming to the fore.

SEEQC, with support from the UK, to investigate how quantum computing could accelerate the drug discovery process QuPharma project revealed. German chemical company BASF also recently joined the project, which is carried out in partnership with Merck.

At this point, let us remind you that Merck’s corporate venture capital arm M Ventures invested in SEEQC in 2020. Following this investment, the venture is led by EQT Ventures and LG Technology Ventures. $22.4 million He announced that he received an investment.

SEEQC aims to establish a fully digital, ultra-low latency chip-to-chip connection between quantum computers and GPUs. According to the company; This connection will be compatible with all quantum computing technologies.

Highlights of the initiative

The company’s SFQ technology replaces bulky, mixed analog/digital quantum hardware with compact, energy-efficient digital chips. Thus, it reduces costs by up to 97 percent and energy use by 100 thousand times. However, SEEQC enables compatibility with various quantum computing architectures such as superconducting, photonic and trapped ions.

Since 2019, the company has managed to triple the size of its team, partly in London and in Naples, where the first version of the chip was produced. It should be noted that currently the majority of the team is based in Elmsford, New York. SEEQC plans to expand its chip foundry here.

While the new Trump administration of the USA aims to win in the technology race with China, the demands to move the chip supply to the US center are in line with the vision of SEEQC.