Quantum Circuits, Inc., a pioneer in quantum computing technology, has announced the completion of a Series B investment round that has raised over 60 million dollars. This funding will allow the company to accelerate the commercialization of their quantum systems, standing out as the first to integrate error detection in more powerful qubits for scalable and high-fidelity computing.
The investment round was led by ARCH Venture Partners, F-Prime Capital, Sequoia Capital, and Hither Creek Ventures, with additional participation from Canaan Partners, Fitz Gate Ventures, In-Q-Tel (IQT), Osage University Partners, Connecticut Innovations, Tao Capital Partners, and Tribeca Venture Partners.
Quantum Circuits, a spinout from Yale University, was co-founded by Rob Schoelkopf, a professor of Applied Physics at Yale and a pioneer in the field of superconducting quantum computing. The recent investment round not only provides crucial financial support but also strengthens the path towards the commercialization of their unique quantum systems. This development follows the recent appointment of Ray Smets as President and CEO and the delivery of a cloud simulation for quantum applications with built-in error detection.
Quantum Circuits’ systems are based on an innovative superconducting architecture that addresses one of the most pressing challenges in quantum computing: error detection and correction. Their double-rail qubit with integrated error detection is a milestone in the industry. This unprecedented approach promises greater precision, performance, and scalability for quantum systems, accelerating the path towards consistent and repeatable computing results, essential for commercially viable systems.
Ray Smets, President and CEO of Quantum Circuits, commented, “At Quantum Circuits, we are providing the industry’s first full-stack quantum solution with built-in error detection to achieve reliable and scalable quantum computing. By putting the power of error detection and real-time control in the hands of algorithm developers, we will accelerate their ability to create new solutions and achieve better results necessary for commercial applications. The full Series B investment underscores confidence in our approach.”
Rob Schoelkopf, founder and Chief Scientist of Quantum Circuits, added, “Quantum Circuits’ founding goal has always been to focus on the biggest challenge in quantum computing: delivering reliable, fault-tolerant, and scalable quantum computers. We adopt the ‘correct first, then scale’ strategy, using our built-in error detection and correction.”
Investor Opinions
Bill Coughran, partner at Sequoia Capital, highlighted, “From the start, Quantum Circuits has delivered unique innovation that positions them for the long term. Creating the most powerful double-rail qubit with built-in error detection is a significant achievement in the quantum space. They are differentiating themselves from the rest of the provider landscape.”
Corey Ritter, principal at ARCH Venture Partners, commented, “Quantum Circuits’ double-rail qubit architecture solves the most pressing problem in quantum computing: error detection and correction. We are excited to see how Quantum Circuits scales their world-leading architecture and paves the clearest path to realizing the promise of quantum computing.”
Stephen Knight, M.D., President and Senior Partner at F-Prime Capital, added, “We see many quantum companies taking different approaches to solving the challenge of error correction with varying degrees of success. Quantum Circuits leverages the speed, flexibility, and scalability of this approach to build high-fidelity systems that have the potential to be best-in-class.”
Eugene Chiu, senior partner at IQT, expressed, “Quantum Circuits takes a refreshing approach to error correction, accelerating the transition of quantum computing from scientific labs to global enterprises. The pedigree and pragmatism of their team enable the company to stand out as the quantum computing industry matures.”
Zander Farkas, managing partner at Hither Creek Ventures, concluded, “Quantum Circuits’ work on error correction firmly places them in the lead in the race to build useful quantum computers. In a world where companies boast about the number of qubits while making almost no progress towards a functional computer, Quantum Circuits’ hardware achieves milestones that the rest of the industry will strive to achieve within the next decade.”
Founded by leading quantum physicists like Rob Schoelkopf, Quantum Circuits positions itself as a dominant force in the development of quantum computers designed to scale. The company’s innovative architecture integrates high-fidelity qubits with intrinsic error detection and handling, accelerating the timeline towards fault-tolerant quantum computing and real-world applications.