The quantum computing industry is forecast to create up to $850 Billion in economic value in the next 15-30 years.
To deliver transformational new applications in fields such as material science, aerospace, climate change, and drug design, quantum computers will need to reliably perform a trillion high-speed operations without disruption.
The need for provide precise solutions at speed with calculations completed in a matter of seconds is meaningfully accelerating the commercial development for quantum computing. A trigger for the industry will relatedto the fact that more people will use quantum computing as a service (QCaaS) in several industries such as defense, finance, chemicals, and the pharma and healthcare industries.
Anyways, technical and implementation issues still limit the market expansion.
Below, we introduce some venture capital backed companies which are working to overcome these issues and challenges and to allow the quantum computing industry to thrive.
USA
- Palo Alto, CA-based PsiQuantum is developing a quantum computer to solve challenges in climate, finance, energy, agriculture, climate, healthcare, transportation, communications, etc. The company has developed technology in which single photons (particles of light) are manipulated using photonic circuits which are patterned onto a silicon chip using standard semiconductor manufacturing processes. PsiQuantum is manufacturing quantum photonic chips, as well as the cryogenic electronic chips to control the qubits, using advanced semiconductor tools in the production line of its manufacturing partner GlobalFoundries. The company recently announced the opening of its UK-based advanced R&D facility at STFC’s Daresbury Laboratory in the North West of England. This effort is backed by £9M of funding from the UK government’s Department for Science, Innovation and Technology (DSIT), and gives PsiQuantum access to one of Europe’s largest liquid-helium (approx. -270OC) cryogenic plants.
- Berkeley, Calif.-based Atom Computing is advancing quantum computers using nuclear-spin qubits formed from neutral atoms, which will have applications in several areas, from drug discovery and financial modeling, to predicting climate change and the development of new, life-changing materials.
- Boulder-CO-based ColdQuanta leverages quantum mechanics to build and integrate quantum computers, software, sensors, and networks. The company enables “quantum everywhere” through an ecosystem of devices and platforms. Its scalable and versatile cold atom technology is used by organizations around the globe and deployed by NASA on the International Space Station.
- Austin, TX-based Strangeworks works to make quantum computing accessible by building and delivering tools for software developers and researchers, and systems management for IT Administrators and CIOs.
- Palo Alto, California-based QC Ware is a quantum and classical computing software and services company focused on ensuring enterprises are prepared for the emerging quantum computing disruption. With specialization in machine learning and chemistry simulation applications, QC Ware develops for near-term quantum computing hardware as well as state-of-the-art classical machines with a team composed of some of the industry’s foremost experts in quantum and classical computing.
UK
- London, UK-based Quantum Motion is advancing a platform that features an array of qubits based on the silicon technology already used to manufacture chips in computers and smartphones. The company’s fault tolerant quantum computing architectures are compatible with CMOS processes and aim to support quantum algorithms, targeting solutions to currently unresolved issues in such fields as medicine, chemistry, artificial intelligence, and materials science.
FRANCE
- Paris-France based Pasqal builds quantum computers from ordered neutral atoms in 2D and 3D arrays to bring a practical quantum advantage to its customers and address real-world problems. The company is currently engaged with companies including Aramco, Eni, Siemens, Airbus, LG Electronics, BMW, Crédit Agricole CIB, BASF, Johnson & Johnson and Thales, among others.
- Massy, France-based Quandela develops full-stack optical quantum computers, available both on cloud and on-premises. In 2022, the company released its photonic computer programming and simulation software, called Perceval. Today, the company offers a cloud access to Ascella, its first 6-qubit quantum computer, launched in the fall of 2022. Quandela also advises and works with various companies and organizations, in the exploration and development of first use cases using photonic quantum computers.
SWITZERLAND
- Zurich, Switzerland-based Terra Quantum is organized as a “Quantum as a Service” company with three core focus areas, including Quantum Algorithms as a Service where an extensive library of algorithms are available to customers, such as quantum-based optimization and quantum-based neural networks which can for example be used for pattern recognition, Quantum Computing as a Service providing customers with access to logical qubits, and Quantum Security as a Service offering quantum security worldwide via its quantum secure communication and QKD solutions.
ISRAEL
- Rehovot, Israel-based Quantum Source is advancing technology to enable the efficient implementation of photonic quantum computers that scale to millions of qubits with the potential to unlock acceleration in numerous fields such as drug design, material development, cybersecurity, and the processing of large datasets for AI applications.
- Tel Aviv, Israel-based Quantum Machines provides a Quantum Orchestration Platform that enables companies to control and operate quantum processors. The infrastructure enables researchers to manage complex algorithms for tackling challenges faced by quantum computing, including quantum error correction, multi-qubit calibrations, etc. The platform is used by a multinational corporations, government laboratories, academic institutions, and startups at the forefront of quantum development.
SINGAPORE
- Singapore based Horizon Quantum Computing is advancing programming tools to simplify the process of developing software for quantum computers. The company has already reached key milestones in its tech development, demonstrating advanced compilation techniques, algorithm synthesis and rapid device characterization.