Speeding Up Industry: 12 Early-Stage Quantum Computing Startups to Watch

The commercial quantum computing industry is still relatively nascent, but interest in the technology is rising quickly due to its potential to speed up computing for applications across a wide range of industries. Quantum computing, which aims to accelerate complex computations, has potential to fast-track work in artificial intelligence, genomic-based drug development, cryptography, agriculture, quantum finance, and more.

As interest rises, companies, universities, and governments are experimenting with applications of quantum computers. Some of the biggest investors are: Alphabet via Google, IBM, Microsoft, Intel, Alibaba, Toshiba, and Lockheed Martin, just to name a few.

In addition, British Columbia, Canada-based D-Wave Systems is one of the most well-established private quantum company companies, having raised $158M, including a $21M Series H round in October. The company offers a quantum-annealing computer, a specific type of quantum computing used for solving complex optimization problems.

Now, newer quantum computing-focused startups are entering the market.

Using CB Insights database we identified 12 early-stage startups leveraging the power of quantum computers. The companies on our list have raised $50M or less, have not raised more than two rounds of funding, and have all raised since 2013.

Check out the list below, organized from most well-funded to least.

1. Cambridge Quantum Computing 

Select Investors: Grupo Arcano

Disclosed Funding: $50M

CQC offers a quantum operating system called tiIket> that has been designed to work with a variety of quantum computing platforms. CQC has also developed different quantum algorithms that are meant to provide the basis for applications launched on quantum computers as the usage of these machines becomes more prevalent.

2. Post-Quantum 

Select Investors: Barclays Accelerator, VMS Investment Group, AM Partners

Disclosed Funding: $10.4M

Post-Quantum provides cybersecurity solutions that use quorum technology, biometric authentication, and algorithmically encrypted messaging to protect global investment banks and enterprise data and communications systems.

3. ID Quantique

Select Investors: QWave

Disclosed Funding: $5.6M

ID Quantique (IDQ) provides high-performance multi-protocol network encryption based on conventional and quantum technologies.The company also commercializes a quantum random number generator, and provides optical instrumentation products, notably photon counters.

4. Rigetti Computing

Select Investors: Y Combinator, Alchemist Accelerator, Data Collective

Disclosed Funding: $2.5M

Rigetti Computing is developing a fault-tolerant gate-based solid state quantum processor.

5. QuintessenceLabs

Select Investors: Department of Defense – Australia, Westpac Group (Corporate Minority)

Disclosed Funding: $1.1M

QuintessenceLabs has developed a suite of data security technology products and solutions to secure the transfer, storage, and processing of digital information.

6. Optalysys

Select Investors: DARPA (Grant)

Disclosed Funding: $1M

Optalysys technology uses light, rather than electricity, to perform processor intensive mathematical functions to deliver a solution that requires several orders of magnitude less power than traditional High Performance Computing architectures. The first products are expected to launch in 2017.

7. Eagle Power Technologies

Select Investors: N/A

Disclosed Funding: $750K

Eagle Power Technologies is focused on Q-Carbon development for quantum computing, electronics, cutting/milling tools, and synthetic diamonds.

8. Nano-Meta Technologies

Select Investors: QWave, Runa Capital

Disclosed Funding: $250K

Nano-Meta Technologies is building a single-photon generator with a number of applications, including the potential to send highly secure “quantum-encrypted” transmissions.

9. Qubitekk 

Select Investors: Ellis Energy Investments, The California Energy Commission (Grant)

Disclosed Funding: $90K

Qubitekk is working on building a photonic, gate-based, universal quantum computer.

10. QC Ware 

Select Investors: Alchemist Accelerator

Disclosed Funding: $40K

QC Ware is an early-stage company developing a cloud-based platform for quantum computing machines.

11. QxBranch 

Select Investors: FinTech Innovation Lab

Disclosed Funding: $20K

A spin-out of two leading firms in the aerospace and defense sector, QxBranch is bringing systems engineering, data analytics, machine learning, quantum computing, and risk analysis to multiple sectors.

12. 1QBit 

Select Investors: CME Group, Royal Bank of Scotland, D-Wave Systems

Disclosed Funding: Undisclosed

1QBit offers software that reformulates financial problems into a format that speaks to the only commercially operating quantum computer: the D-Wave II.

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