Mohamed Abdel-Kareem

SEALSQ Corp (NASDAQ: LAES), a Swiss company specializing in semiconductors, PKI, and post-quantum cryptography (PQC) technologies, has secured $10 million in gross proceeds through a registered direct offering. The offering, priced above market under NASDAQ rules, involves the sale of 7,692,308 ordinary shares at $1.30 per share. Maxim Group LLC acted as the sole placement agent for the transaction, which is expected to close on December 16, 2024, subject to standard conditions. The funding will primarily support SEALSQ's development of next-generation post-quantum semiconductor technologies and ASIC capabilities within the United States, in addition to bolstering working capital and general corporate purposes. [...]

BosonQ Psi (BQP) has closed a $3 million+ Seed-I funding round, boosting its total funding to $4.7 million. Led by Monta Vista Capital, other investors include Emergent Ventures, Armory Square Ventures, Alumni Ventures, and Paradigm Shift Capital. The funding will accelerate BQP's expansion in the U.S. and Indian markets, focusing on Aerospace & Defense and Semiconductor industries. BQP is tackling innovation challenges in the $22 billion simulation market, where outdated technologies slow time-to-market or risk design flaws. Its platform, BQPhy©, leverages quantum-inspired algorithms to enhance simulations up to 10X on today’s high-performance computing systems, aiming for 1000X acceleration on future quantum [...]

IBM CEO Arvind Krishna shaking hands with Illinois Governor JB Pritzker at the announcement ceremony IBM and the State of Illinois, supported by universities and industry leaders, announced plans to establish the National Quantum Algorithm Center in Chicago's Illinois Quantum and Microelectronics Park (IQMP). This initiative will feature IBM's Quantum System Two, equipped with the 156-qubit Heron processor, enabling utility-scale algorithms beyond classical computational limits. The system will integrate quantum and classical computing, advancing hybrid supercomputing capabilities. The center aims to drive quantum algorithm development, leveraging Illinois' robust ecosystem of academic institutions like the University of Chicago and the University of [...]

Quantum Computing Inc. (QCi), a company specializing in photonics and quantum optics technology, has raised $50 million through two concurrent offerings of common stock. The funds will support the company's working capital needs, general corporate purposes, and the advancement of its quantum technologies, particularly the ongoing development of its thin-film lithium niobate (TFLN) Photonic Chip Foundry in Tempe, Arizona. This facility is on track to be operational in Q1 2025. The funding includes: Registered Direct Offering: Sale of 1.54 million shares at $5.00 per share. Private Placement: Sale of 8.46 million shares at the same price. These initiatives aim to strengthen [...]

D-Wave Quantum Inc. has successfully raised $175 million in gross proceeds through two at-the-market (ATM) equity offering programs. The latest $75 million program, launched on December 9, 2024, was completed at an average share price of $4.8149 over three days. These funds strengthen D-Wave's financial position, with the company projecting at least $160 million in cash by the end of Q4 2024. The capital will support D-Wave's working capital, capital expenditures, and continued development of its quantum computing technologies. The company's 5,000-qubit Advantage™ quantum computer is the largest of its kind and plays a pivotal role in advancing annealing quantum computing. [...]

A Hamburg-based consortium, including ParityQC, DESY, eleQtron, and the DLR Quantum Computing Initiative (DLR QCI), has launched the HQML project to pioneer quantum machine learning (QML) for large-scale image data processing. Funded by Hamburg's Investment and Development Bank (IFB Hamburg), the project addresses the computational challenges posed by vast image datasets from experiments at CERN's Large Hadron Collider (LHC). The consortium aims to leverage quantum computing’s speed and multi-state processing capabilities to analyze image data and identify patterns more efficiently than conventional AI techniques. The HQML project integrates hardware and software innovation. ParityQC, the consortium leader, will develop QML algorithms optimized [...]

Helsinki-based Arctic Instruments, a spinoff from Finland’s VTT Technical Research Centre, has raised €2.35 million ($2.46 million USD) in funding to advance its superconducting microwave amplifiers. These amplifiers are critical components for large-scale quantum computers, enabling precise qubit state measurement. The round was led by Lifeline Ventures, a Finnish venture capital firm recognized for backing early-stage category leaders. As quantum computers scale from approximately 100 qubits to 10,000 or more, the demand for near-quantum-limited amplifiers grows significantly. Arctic Instruments' technology stands out for its ability to manufacture thousands of high-quality, consistent amplifiers, a vital capability for realizing the full potential of [...]

Pasqal, a leader in neutral-atom quantum computing, has entered into a Memorandum of Understanding (MoU) with Sungkyunkwan University’s Quantum Information Research Support Center (Q Center) in South Korea. This collaboration aims to foster quantum computing research, education, and application at both a national and global level. The partnership focuses on several key areas: Workforce Training: Collaborative programs to develop the next generation of quantum scientists and engineers. Pasqal Cloud Platform Access: Utilizing Pasqal’s advanced quantum platform for research and innovation. Seminars and Knowledge Sharing: Regular sessions on quantum computing applications and use-case development. Global Quantum Community Engagement: Joint initiatives to enhance [...]

Quobly, a Grenoble-based quantum computing startup, has announced a strategic collaboration with STMicroelectronics to develop and scale quantum processor units (QPUs). The partnership leverages ST’s 28nm FD-SOI semiconductor manufacturing process, known for its cost efficiency and scalability. This collaboration is a significant step toward cost-competitive, large-scale quantum computing solutions. The company also announce work with CEA-Leti to develop FD-SOI based processing for devices that run at cryogenic temperatures including both the spin qubits and control electronics. The first phase of the collaboration will focus on adapting ST’s FD-SOI process to meet Quobly’s quantum processor requirements. The goal is to develop a [...]

Algorithmiq, a Helsinki-based quantum software company, has joined the QuEra Quantum Alliance to advance applications of neutral-atom quantum computers in healthcare and life sciences. This partnership focuses on accelerating drug discovery and treatment development by leveraging QuEra’s quantum computing technology alongside Algorithmiq’s algorithmic expertise. QuEra, a Boston-based company specializing in neutral-atom quantum computing, provides scalable systems with advanced processing modes and coherence. These systems, available via public cloud platforms, enable dynamic qubit manipulation to address computational challenges. Algorithmiq develops quantum algorithms combining classical and quantum computing capabilities, particularly in drug design and development processes. The collaboration seeks to solve complex problems [...]