Quantum Motion Technology, Entropica Labs Received Nearly $12M in May

Quantum Motion Technology, Entropica Labs Received Nearly $12M in May

Startup Funding: May 2020

Excerpts from report…

Quantum Computing

+  Quantum Motion Technology is working to develop a quantum computer using silicon spin-based qubit architectures which are compatible with standard CMOS fabrication. Such a scalable array would allow for qubit redundancy and thus fault tolerance, and potentially integration in a hybrid quantum/classical computer. It raised £8.0M (~$9.9M) in a Series A funding round let by INKEF Capital and joined by new investors Octopus Ventures and the National Security Strategic Investment Fund as well as existing investors Oxford Sciences Innovation, Parkwalk Advisors, and IP Group plc. Based in Leeds, U.K, the company was founded in 2017.

Singapore-based Entropica Labs received SGD2.6M (~$1.8M) in seed funding for development of its quantum computing software tools, algorithms, and models. The round was led by Elev8 and joined by SGInnovate, Wavemaker Partners, Lim Teck Lee Group, TIS Inc, V1 Capital, and Entrepreneur First as well as individual investors Charlie Songhurst and Claus Nehmzow. Spun out of the Centre for Quantum Technologies at the National University of Singapore in 2018, the startup is building a framework to enable both expert developers and occasional users to build and experiment with quantum computing workflows and currently works with Rigetti Computing, IBM, and Microsoft quantum hardware.

Source:  SEMICONDUCTOR ENGINEERING.  Jesse Allen,  Startup Funding: May 2020…

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