A quantum computing startup looking to miniaturise the futuristic technology and get it into as many hands as possible has today announced a USD$18 million (AUD$25.8 million) funding raise backed by some high-profile backers.
Based in Canberra, Quantum Brilliance has secured the funding in order to expand its international operations, deliver hardware and software products to consumers, and improve its manufacturing and fabrication techniques.
The developer of miniaturised quantum computing products and solutions is the latest in the space to complete a multi-million dollar fundraise, following Q-CTRL’s $39 million Series B top up announced in early February.
Backers of Quantum Brilliance’s raise include Breakthrough Victoria, Main Sequence, Investible, Ultratech Capital Partners, MA Growth Ventures, Jelix Ventures, Rampersand and CM Equity Partners.
Founded in 2019 by CEO Andrew Horsley, chief science officer Marcus Doherty and COO Mark Luo, Quantum Brilliance - which also has an office in Stuttgart, Germany - has a vision to enable mass deployment of quantum accelerators.
By getting the complex computers into the hands of more users, the firm aims hopes to enable customers to harness the next generation of supercomputers.
Quantum Brilliance’s says its quantum computers use synthetic diamonds to operate at room temperature in a range of environments like data centres, mobile devices, autonomous vehicles and spacecraft.
The machines do not require the use of cryogenics, vacuum systems and precision laser arrays - an advantage that means Quantum Brilliance’s technology uses less power and can be deployed in a wider variety of settings.
The company hopes to further miniaturise its technology eventually to the size of semiconductor chips that can be used on any device and wherever classical computers exist today. If the company succeeds, we could very well be holding quantum computers in the palm of our hands.
The firm is vying for a slice of a market expected to reach USD $1.2 billion in value by 2025 according to Hyperion Research. This is expected to grow further, with McKinsey estimating the market will reach USD $700 billion globally by 2035.
“Our technology is following the successful path of classical computers, where integrated semiconductor chips allowed the jump from large fragile mainframes to laptops and smartphones,” Quantum Brilliance CEO and co-founder Horsley said.
“Our small form factor, room temperature, low power devices are forging the same path.
“We are proud of our achievement in taking quantum computing from the lab to the data centre has been recognised by the investment community.”
By pursuing a small form factor, Quantum Brilliance ultimately hopes its technology will be able to solve more problems for more people.
“Quantum Brilliance’s technology has a clear path to scale, allowing for quantum computers to be mass produced,” the company states.
“From onboard signal analysis in satellites, to optimisation of decisions in autonomous vehicles, to massive arrays for modelling molecules for pharmaceutical discoveries, Quantum Brilliance believes its quantum computers provide a tangible path to business use cases.”
Grant Dooley, the CEO of Breakthrough Victoria which manages a $2 billion sovereign investment fund for the Victorian government, said the company’s vision will deliver sustainable returns for the state over the next decade and beyond.
“We are actively investing in quantum technologies to establish Australia, and the state of Victoria, as a global player in this rapidly evolving sector,” Dooley said.
“Quantum Brilliance’s vision of mass producible, room temperature, small form factor quantum computers aligns closely with our mandate to fund ideas and technology in Victoria that will help solve globally significant problems, and we see them as a true innovator in the quantum computing industry.”
Support from Breakthrough Victoria builds on the company’s existing presence in Victoria, where it established the Research Hub for Diamond Quantum Materials in April 2022.
This hub was created alongside quantum diamond institutions at La Trobe University and RMIT University to enhance the computational power of diamond-based quantum computers with techniques that can transition to manufacturing systems in large volumes.
According to Quantum Brilliance, the company plans to expand this hub and continue to work with research partners to offer industry PhD positions in Victoria to build out the next generation of talent in Australia.
The raise also follows significant wins for Quantum Brilliance, including the installation of the world’s first room-temperature diamond-based quantum computer located on-site in a supercomputing facility at the Pawsey Supercomputing Centre in Perth.
Further, the company last year announced it had partnered with NVIDIA to accelerate the development of the world’s first hybrid quantum-classical computing platform.
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