By Carolyn Mathas
Two new quantum funding deals were just secured, Nanofiber Quantum Technologies Inc. (NanoQT), raised $8.5m and Paris-based ColibriTD closed €1M ($1.6M USD). Venture capital was the source of both deals.
NanoQT’s focus is on fiber connectable quantum computing hardware based on a unique nanofiber cavity Quantum Electrodynamics (QED) technology. The company’s quantum processing unit (QPU) uses neutral atoms and photons as qubits that can process and store quantum information while communicating with other QPUs. The result is greater scalability compared to traditional implementation methods. According to Dr. Masahi Hirose, CEO and co-founder, “With the funding, our primary objective is to develop our proprietary QPU for quantum repeaters, an innovation not yet seen in the market.” NanoQT plans to accelerate its R&D, attract talent from the US and Japan, and collaborate with academia and private corporations. Investors in this round included Phoenix Venture Partners (PvP) in the US, and Japan’s JAFCO Group Co Ltd, SPARX Group Co Ltd, Keio Innovation Initiative, Inc. (KII), and Waseda University Ventures (WUV). The venture investment is NanoQT’s second in a little more than a year (See Nanofiber Quantum Technologies Receives a Venture Investment of 200 Million Yen ($1.5M USD). A news release with additional information about this investment is available here.
ColibriTD also closed a €1 million seed funding round led by Earlybird Venture Capital’s Earlybird-X fund, with participation from a group of angel investors. ColibriTD’s team of researchers includes key academics and industry partners with a goal of delivering the first end-to-end quantum as a service platform that works on existing noisy and quantum computers. The funding will enable ColibriTD to accelerate the development of the platform, making quantum computing universally accessible to enterprises across such broad range of industries as automotive, aerospace and healthcare. The funding will also strengthen hardware and academic partnerships while expanding ColibriTD’s open-source strategy. Additional information about this seed funding in ColibriTD can be seen here.
September 23, 2023