Integrating quantum computing into real computer applications is an ongoing challenge because the platforms are designed fundamentally differently. BlueQubit, a San Francisco-based quantum software startup founded by a Stanford graduate, thinks it may have the answer.
Quantum Software as a Service (QSaaS) platforms attempt to address the above issues by providing end users with access to quantum processing units (QPUs) and quantum computing emulators.
To further advance its mission, it has now raised $10 million in a seed funding round led by Nyca Partners. The idea is to combine enterprise applications with advanced quantum hardware.
Fields such as finance, pharmaceuticals, and materials science are starting to see the boundaries of what is possible with classical computing, which is why quantum computing has been gaining so much attention recently.
Quantum has the promise of providing new solutions to many intractable problems. Google’s recently announced newest quantum computing chip, Willow, gave one of today’s fastest supercomputers a glimpse into a world where computers can perform calculations in less than five minutes that would take 10 trillion years. 0).
BlueQubit’s QSaaS framework supports use cases such as financial modeling, pharmaceutical development, and visualization.
Hrant Ghairbyan, CEO and co-founder of BlueQubit, told TechCrunch that the company leverages its large-scale classical computing resources, particularly its GPU family, to develop and test quantum algorithms before deploying them on actual quantum processors.
“This approach allows us to scale effectively and pioneer new algorithms for quantum machine learning and quantum optimization,” he said.
He added that the software stack, combined with a set of algorithms developed by our team, runs a quantum emulator up to 100 times faster than commonly available alternatives.
MIT graduate Gharibyan co-authored the groundbreaking ‘wormhole teleportation’ algorithm, which the Google Quantum AI team later implemented on superconducting processors.
Hayk Tepanyan, BlueQubit’s CTO, graduated from Stanford University and later worked on Google’s infrastructure team. Gharibyan and Tepanyan met at Stanford.
“We decided to start the company sitting on a surfboard in Santa Monica, California in the spring of 2022,” Garibian said. “We just heard a new announcement about progress in superconducting qubits from the IBM Quantum team, and it was clear that the quantum environment is advancing at an incredible rate.”
“We’re looking for a team to invest in people who want to help financial services companies get off the ground in the wake of quantum,” Nyca partner Tom Brown said in a statement. “Hrant and Hayk have the background, skills and drive to operationalize what until recently was mostly theory.”
Restive, Chaac Ventures, NKM Capital, Presto Tech Horizons, BigStory, Untapped Ventures, Formula VC, and Granatus also participated in this round.
