Three Truths and A Lie: Investments in the Quantum Hemisphere
Have you been keeping up with the buzz around quantum computing? It's been gaining momentum for a while now, and investors are taking notice. Some exciting news just came out - four quantum computing companies received some major investments to help fuel their research and development efforts. I'm here to give you the scoop on these investments and what they mean for the future of quantum computing.
Igniting the Quantum Investments
Quantum-Motion hit the jackpot when in February, it raised £42 million in a funding round led by Bosch Ventures. Specialising in the design and development of quantum processors, the British-based enterprise has revealed the funding will help towards accelerating its development of silicon quantum processors through “developing deeper ties with its manufacturing partners” and sizing up its central London headquarters. Sounds like a very productive use of the money, if you ask me!
It’s raining investment for the French quantum computing enterprise, PASQAL. In January, it raised £100 million with aims to use the funding to deliver major commercial advantages over classical computers by as early as 2024. The enterprise recently sold two quantum computers, and one of its founders even won the 2022 Nobel Prize in Physics for experiments which laid the foundations for quantum computing. Definitely a space to watch…
What’s been happening with Oxford Ionics? Earlier this year, it announced the acquisition of £30 million in funding from some of the world’s leading quantum and tech investors. Dr Chris Ballance, co-founder of Oxford Ionics revealed, “If we’re to identify and unlock the true power and potential of quantum computing we need to crack the critical issues that are holding it back – scalability, integration and performance.” We can be sure that his surge in funding will contribute to solving these aspects.
Fishy Funding in the Quantum Field
Not all funding can be taken for face value, however. SandboxAQ has been making headlines in the world of quantum investment after announcing it recently raised $500 million. But sources suggest that there’s absolutely nothing recent about that cash infusion.
A spokesperson revealed to Benzinga that this was not a new funding round, but a disclosure of the “significant, nine-figure” funding round it announced when the company first broke away from Alphabet in March 2022. And for those who don’t know, Alphabet are the (now estranged) parents of Google and a bunch of other spawns.
We’re not disputing the funding is fake, we’re disputing the time in which it was rallied. Just a heads up SandboxAQ - transparency can go a long way, especially when it comes to forming stable investment deals!
Investing in a Quantum Future
Have you heard about these quantum computing companies? Well, it seems like the bigwigs are starting to take notice, because they're putting their money where their mouth is and investing in them. They're hoping that quantum computing will shake things up in industries like finance, healthcare, and logistics. The cash infusion will help the companies scale up their technology, hire more staff, and expand operations. And let me tell you, this is just the beginning. With everyone gunning for quantum supremacy, we're bound to see even more investments pouring into the industry in the coming years.