Quantum software startup BlueQubit gains major financial backing
San Francisco-based BlueQubit has raised $10 million to bridge the gap between quantum computing and real-world applications, focusing on fields like finance, pharmaceuticals, and material science.
BlueQubit, a San Francisco-based startup specialising in quantum software, has raised $10 million in seed funding led by Nyca Partners. Founded by Stanford alumni in 2022, the company aims to integrate quantum computing into practical applications, leveraging its Quantum-Software-as-a-Service (QSaaS) platform. This technology provides users access to quantum processing units (QPUs) and quantum computing emulators, helping industries like finance, pharmaceuticals, and material science overcome the limits of traditional computing.
Co-founder and CEO Hrant Gharibyan highlighted BlueQubit’s approach of using advanced GPUs to test quantum algorithms before deploying them on quantum processors. The US based company’s software emulators are reported to run up to 100 times faster than typical alternatives, with proprietary algorithms designed for tasks like financial modelling and quantum optimisation.
This funding round, which also saw participation from Restive, Chaac Ventures, and others, is set to accelerate BlueQubit’s mission to make quantum computing accessible for enterprise use. Nyca Partners’ Tom Brown praised the team’s expertise and drive to turn theoretical quantum advances into operational tools for sectors preparing for quantum breakthroughs.
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