Date
19 November 2017
Quantum Circuits Inc. is aiming to build and sell its first practical and useful quantum computers. Photo: Screen shot of Quantum Circuits Inc.'s homepage
Quantum Circuits Inc. is aiming to build and sell its first practical and useful quantum computers. Photo: Screen shot of Quantum Circuits Inc.'s homepage

QCI raises US$18 mln in series A round of financing

Quantum Circuits Inc. (QCI), a quantum computing startup founded in 2015, has recently raised US$18 million in a series A round of financing co-led by Sequoia Capital and Canaan Partners.

The company aims to build and sell its first practical and useful quantum computers, the Hong Kong Economic Journal reports.

Yale University’s Michel Devoret, Luigi Frunzio and Robert Schoelkopf, who are experts in ground-breaking and proprietary quantum technology, are QCI’s founding members.

The Yale team has pioneered the field of quantum computing with superconducting circuits, introducing the transmon qubit and techniques for distributing quantum information on wires, and performing the first quantum algorithms and quantum error correction in integrated circuits.

The company is developing its computers based on a proprietary approach for error-correcting quantum bits which is hardware-efficient and requires much less redundancy.

The core focus of the team is to build a modular quantum computer that can be reconfigured and reprogrammed in various ways, with initial applications that will address drug design for biotech, improved processes for industrial chemicals, fintech, machine learning and energy.

In addition, tech giants including IBM, Google and Intel, are dedicated to developing computing of the next generation to cope with the enormous demand for data analysis.

Last Friday, IBM announced the development of a quantum computer which is able to handle 50 qubits (quantum bits) at the IEEE Industry Summit on the Future of Computing in Washington, D.C.

More than 60,000 users have run over 1.7 million quantum experiments through the experience of IBM Q systems as well.

Meanwhile, the latest list of the world’s fastest supercomputers was announced in the United States. China’s Sunway TaihuLight and Tianhe-2, also known as Milkyway-2, captured the first two spots.

With a High Performance Linpack mark of 93.01 petaflops, Sunway TaihuLight has nearly 10.65 million CPU cores in the entire system.

China has 202 supercomputers to make the top 500 list, and the most number by any country, surpassing the US that accounts for 143 supercomputers on the list.

Japan came in third and Germany fourth, with 35 and 20, respectively.

This article appeared in the Hong Kong Economic Journal on Nov. 15

Translation by Jonathan Chong

[Chinese version 中文版]

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