OAKLAND, Calif., Jan. 31 (Reuters) – Q-CTRL, a Sydney-based startup that provides software that helps quantum computers run more precisely, announced on Tuesday that Salesforce Ventures has joined as a new investor. announced that it has raised $27.4 million.
Quantum computers, which run processes based on theories of quantum physics, could be able to perform certain computations millions of times faster than today’s fastest supercomputers. Billions of dollars have been invested in preparing for the moment when quantum computers will be able to outperform classical computers on critical tasks, experts say.
Q-CTRL CEO and Founder Michael Biercuk said: One million. “We layered it thousands of times to make it very useful.”
The more qubits a machine has, the more powerful the computer. Several quantum computer makers say he will exceed 1000 qubits in the next year or two. But these atomic-level qubits are prone to a lot of interference from the environment, creating a gap between what users can actually do and what they actually experience.
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Biercuk describes it as white snow, or like an old television set with images hidden behind interference. Q-CTRL’s software helps to check some of its static parts to increase the chances of reading the correct answer from the quantum machine.
He said that while the world awaits larger and more accurate quantum computers, companies are pouring money into preparing for the day when quantum computers can beat conventional computers in some useful way. Biercuk said chemistry or finance would be areas where it could happen first.
“When we talk to quantum computer end users about one of our products, almost every company that comes to us is a financial institution,” said Biercuk.
Q-CTRL plans to use the funds for sales and marketing, expanding its team from 80 to 120 this year. The company says he posted more than $15 million in revenue last year between its quantum computing and quantum sensing divisions.
Works with both quantum computer hardware and software makers such as IBM (IBM.N), IONQ (IONQ.N), and Classiq.
Reported by Jane Ranhee Lee.Edited by Christian Schmolinger
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