The round was led by Comcast Ventures, Pitango and Prelude Ventures, with additional participation from BASF Venture Capital, Robert Bosch Venture Capital, The Engine Accelerator Fund and new investors, including Ahren Innovation Capital, Alumni Ventures Group, Honeywell Venture Capital, ITOCHU Corporation and Merck Global Health Innovation Fund. This new round brings the total company funding to $64 million.
As a quantum software company, Zapata has four key research efforts which include the Orquestra workflow management platform, optimizing quantum hardware, benchmarking quantum applications, and advancing quantum machine learning. Although many researchers in the quantum community believe that quantum chemistry or quantum optimization may be the earliest applications to use quantum computing for advantage, Zapata believes the nearest-term quantum use cases are in machine learning.
Zapata will be using the additional funds to continue enhancing and driving adoption of the Orquestra platform, support their expanding enterprise customer base, and scale their science and engineering teams. Although the much of their team is located in Zapata’s Boston location, they have a smaller team in Toronto and other remote employees outside of North America. They plan to continue expanding their presence in Japan and Europe to support international customers.
For more details about this investment round, you can read the news release posted here.
November 19, 2020