Startup Funding: January 2021
Points to note…
+ Riverlane raised $20.0M in Series A funding led by Draper Esprit and joined by existing investors Cambridge Innovation Capital, Amadeus Capital Partners, and the University of Cambridge. Founded in 2017 and based in Cambridge, UK, Riverlane has raised $24M to date. Classiq drew $10.5M in Series A funding led by Team8 Capital and Wing Capital and joined by Entrée Capital, OurCrowd, and IN Venture. The startup has automation and synthesis software to aid in the development of quantum algorithms, aiming to make knowledge of the underlying gate level details unnecessary. Qblox received €4.8M (~$5.8M) from the European Innovation Council’s Horizon 2020 program to develop its qubit control hardware. Qblox says its control stacks combine unleveled noise performance, a low-latency arbitrary control flow, and can be scaled up to 100s of qubits. Quantum Computing Inc. (QCI) drew $3.2M in Series A for its software platform for developing applications to address complex optimization problems and that can run on either quantum computers or classical computers. Two areas of focus for the startup are financial asset allocation and data analytics for clinical trials.
Table: Selected companies that raised venture funding in January 2021. Source: Semiconductor Engineering (Source: Semiconductor Engineering)
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