Qolab, the first quantum computing startup incubated at the University of Wisconsin–Madison, has joined the Chicago Quantum Exchange (CQE) as a corporate partner, highlighting its focus on collaboration. The company, cofounded by quantum computing leaders Alan Ho, John Martinis, and Robert McDermott, aims to build a utility-scale quantum computer by improving superconducting qubits, which hold immense computational power.
Qolab works to enhance qubit coherence, ensuring they maintain their quantum states longer without errors. It collaborates with CQE partner Applied Materials on advanced qubit fabrication methods. The partnership with CQE has supported key hires and fostered collaborations, such as with the Illinois Quantum and Microelectronics Park.
Qolab recently raised over $16 million in Series A funding, including $5 million from the Development Bank of Japan, and plans to grow to 19 employees by 2025. CQE, headquartered at the University of Chicago, is a hub for advancing quantum science and engineering, comprising over 50 academic, corporate, and nonprofit partners.
A press release provided by the Chicago Quantum Exchange announcing that Qolab has joined, can be accessed here.
January 11, 2025
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