Startup Funding: September 2020
Selected notes ~
+ Quantum computing startup Seeqc raised $22.4M in Series A funding, led by EQT Ventures and joined by FAM AB, M Ventures, BlueYard Capital, New Lab Ventures, and the Partnership Fund for New York. (The M Ventures investment of $5M was announced in April.) Seeqc’s approach combines classical and quantum computing to address efficiency and stability issues. The company’s digital quantum management SoCs are co-located with qubit chips as multi-chip modules in the same cryogenically cooled system and perform digital qubit control, readout and classical data processing functions, as well as being a platform for error correction. It also owns a multi-layer superconductor fab. Based in Elmsford, N.Y., Seeqc was spun out of Hypres in 2018. In total, the company has raised $29.2M.
+ Quantum photonics startup AegiQ was awarded a £1.4M (~$1.8M) grant from Innovate UK to build secure quantum communications for fiber-optic and satellite based applications as part of a consortium of companies. The startup is developing III-V semiconductor-based quantum photonics using on-demand single photons. It will also be part of a project led by Fraunhofer’s Centre for Applied Photonics that aims to increase the reliability and reduce the size, weight, power consumption, and cost of laser components and systems. Based in Sheffield, U.K., and founded as a spin out from Sheffield University in 2019, AegiQ is currently raising seed funding.
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