Three new venture capital investments have been announced within the past few days. The first is an investment of an additional $3 million in Classiq from strategic investors HSBC, NTT, and Neva SGR. This brings the Series B total to $36 million and total funding the company has received so far to $51 million. Strategic investor funding is important because these organizations can not only provide funds, but they can also become customers of a company. In this case, NTT is already a customers and HSBC and Neva SGR’s parent company, the Intesa Sanpaolo Group the leading Italian bank in Europe, could have broad usage of quantum computing technology in the future. Yuval Boger, Chief Marketing Officer at Classiq, states, “These additional funds will help us build a large community of quantum experts and quantum explorers that are eager to harness Classiq’s unique approach to creating quantum software towards solving real business problems.” Classiq’s press release announcing this investment can be accessed here.

Quantum Exponential, a publicly held investment organization, has invested £450,000 ($551K USD) through an Advanced Subscription Agreement in Universal Quantum. Universal Quantum’s is working to develop practical quantum computers using microwave trapped ion technology that uses long-wavelength radiation and locally applied magnetic fields to replace the vast amounts of individually controlled laser beams used in other ion trap implementations. Their goal is to develop to the world’s first million qubit quantum computer. A press release from Quantum Exponential announcing this investment can be found here.

Finally, Mitsubishi Electric’s ME Innovation Fund has announced an investment in Tokyo based QunaSys for an undisclosed amount. Qunasys was founded in early 2018 by researchers from the University of Tokyo, Osaka University, and Kyoto University and develops applications using quantum computing with a focus on quantum chemistry, quantum machine learning and optimization. Qunasys also helps to manage the QPARC industry consortium to help partners learn about quantum computers. A new release from Mitsubishi Electric announcing this investment is available here.

May 16, 2022