Contradicting Nvidia CEO Jensen Huang’s projection of “extremely useful quantum computers” being 20 years away, chip mogul Nvidia has invested in this sphere. SEEQC, their quantum computing collaborator, recently declared a $30 million funding boost.
The funding round was jointly led by Booz Allen Ventures and NordicNinja, an intercontinental VC firm hailing from Japan and Europe. With SIP Capital contributing as a novel backer, along with prior stakeholders, SEEQC CEO John Levy lauds the funding not just for its financial aspect but also its geographic and strategic fortification – prerequisites for their mission of executing successful quantum enterprises.
SEEQC, an acronym for “scalable, energy efficient quantum computing”, declares chips as the secret to simplifying contemporary quantum hardware—a prediction set to redefine data center and enterprise tools, and conquer constraints like cabling issues, latency, and cost.
The appearance of quantum prototypes seems hefty, like early information technology computers. SEEQC advocates that achieving scale in enterprise quantum data centers necessitates system engineering perspectives.
Additionally, with the prowess of AI emphasizing the demand for energy-efficient data centers, quantum computing can put such innovations within our grasp, unlocking unprecedented applications. For example, the accelerated development of generics and materials can become a reality, permitting pharmaceutical research and chemical companies to fully utilize quantum’s potential.
This is the rationale behind the recent partnership of German chemical giant BASF and Merck with SEEQC in the QuPharma project, fostering quantum computing into streamlining drug discovery.
Furthermore, because of these prospects and SEEQC’s alliance with Nvidia, various companies, including M Ventures, the corporate arm of Merck, invested in SEEQC in 2020. The progression led to a swift hike in SEEQC’s funds, amounting to $22.4 million, pre-dating this recent round.
The fresh fund inflow will bolster the commercial launch and enhancement of SEEQC’s chips. Remarkably, SEEQC, born in 2019, has already made significant strides as a spinout from chip firm Hypres, which was constructed by ex-employees of IBM’s superconducting electronics division.
As anticipated, quantum’s potential harmonizes with the growing need for a resilient chip supply chain, bearing geopolitical tensions in mind, especially concerning China.
There are multiple solutions debuting in this arena—photonics, silicon-based chips, and trapped ion qubits—all vying for the lead. However, Levy is confident in the system architecture focus, with chips at the heart, to drive the future of quantum computing.
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