BlueQubit, a quantum software startup based in San Francisco, has raised $10 million in a seed funding round led by Nyca Partners, with participation from Restive, Chaac Ventures, NKM Capital, Presto Tech Horizons, BigStory, Untapped Ventures, Formula VC, and Granatus. Founded by Stanford alumni Hrant Ghairbyan and Hayk Tepanyan, the company aims to integrate quantum computing into real-world applications through its Quantum Software as a Service (QSaaS) platform.
The QSaaS framework connects enterprise users to Quantum Processing Units (QPUs) and quantum emulators, addressing challenges in sectors like finance, pharmaceuticals, and materials science. BlueQubit’s software stack enables quantum emulators that are up to 100 times faster than conventional options, allowing large-scale classical computing resources, like GPU fleets, to simulate and test quantum algorithms before deploying them on physical quantum processors.
CEO Hrant Ghairbyan, a co-author of the groundbreaking “wormhole teleportation” algorithm, and CTO Hayk Tepanyan, a former Google infrastructure engineer, leverage their deep expertise to design solutions for quantum machine learning and optimization. The startup’s mission is to make quantum computing practical for industries on the edge of classical computing’s limitations.
Tom Brown, Partner at Nyca, expressed confidence in the team’s ability to operationalize quantum technologies for financial services and other industries, saying, “Hrant and Hayk have the background, skills, and drive to bring quantum out of theory and into practice.”
BlueQubit plans to use the funding to refine its platform and accelerate the development of quantum-enabled enterprise applications. For further details, refer to their website here.
December 19, 2024
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