Quantum Software startup BlueQubit Secures $10 Million to Democratize access to Quantum Computing
San Francisco-based quantum software startup BlueQubit Inc. announced Thursday it has secured $10 million in seed funding. The investment will fuel the expansion of BlueQubitS platform, which aims to bridge the gap between groundbreaking quantum technology and practical, real-world applications.
Nyca Partners spearheaded the round, with participation from Restive, Chaac Ventures, Presto Tech Horizons, NKM Capital, and BigStory VC.
Founded in 2022 by Stanford alumni, BlueQubit offers a managed quantum-software-as-a-service platform. This innovative platform simplifies the process for businesses to harness the power of quantum technology. Companies can use the platform to access quantum processing units (QPUs) and powerful software emulators, enabling them to develop and test algorithms before deployment.
“Quantum technology is not just a buzzword; it’s the next frontier of computational power,” said Hrant Ghairbyan, co-founder and chief executive of BlueQubit.
Quantum computing holds the potential to deliver rapid solutions to some of the most complex computational challenges faced today. These include problems in fields like chemistry, drug discovery, materials science, financial modeling, and supply-chain optimization. What might take classical computers hundreds or thousands of years to solve, quantum algorithms can resolve in minutes.
Recent advancements in quantum computing hardware, such as google LLC’s debut of its state-of-the-art quantum computing chip, willow, demonstrate the growing power of quantum computing.Willow can solve problems that would take even the world’s second-fastest supercomputer, Frontier, billions of years. Willow accomplished this feat in under five minutes.
Other pioneers in the quantum computing space, such as IonQ Inc., are also pushing the boundaries of what’s possible.
BlueQubit, a quantum computing firm, has secured a new round of funding to further its mission of making quantum technology accessible to businesses. The company’s platform allows developers to build quantum algorithms using familiar industry tools and test them in simulators powered by large-scale graphics processing units. BlueQubit’s platform supports diverse applications, including financial modeling, pharmaceutical growth, and visualization. This latest investment will enable BlueQubit to expand its quantum ecosystem and empower enterprise developers to deploy more refined quantum use cases.The company envisions a future where quantum technology drives advancements in industries like materials discovery and risk analysis, powered by advanced quantum artificial intelligence models. “Our platform is designed to empower researchers and developers alike,” said Hayk Tepanyan, BlueQubit’s co-founder and Chief Technology Officer.“We’re not just developing quantum software; we’re creating an ecosystem where quantum hardware,software,and enterprise use cases coalesce.”
“TheCUBE is an crucial partner to the industry.You guys really are a part of our events and we really appreciate you coming and I know people appreciate the content you create as well” – Andy Jassy
— SiliconANGLE (@SiliconAngle) June 17, 2024
## Archyde Exclusive: bluequbit CEO on Democratizing Quantum Computing
**Archyde:** Welcome to Archyde, Hrant. Congratulations on securing $10 million in seed funding. This is a significant milestone for BlueQubit.
**Hrant Ghairbyan:** Thank you! We’re thrilled with the backing from such a strong group of investors, including Nyca Partners, Restive, chaac Ventures, and others.It’s a validation of our vision to make quantum computing accessible to everyone.
**Archyde:** Your platform is described as a “managed quantum software-as-a-service” offering. Can you explain what that means and who would benefit from it?
**Hrant:** Essentially, we’re building a bridge between the complex world of quantum computing and businesses that want to leverage its power. Our platform provides easy access to quantum processing units (QPUs) and powerful simulators, allowing companies to experiment, develop, and test quantum algorithms without the need for extensive in-house expertise or infrastructure.
**Archyde:** So, this could empower companies across various sectors to tap into the potential of quantum computing, even if they don’t have a dedicated quantum team?
**Hrant:** Exactly! Imagine a pharmaceutical company testing new drug interactions, a financial institution optimizing investment portfolios, or a logistics firm streamlining delivery routes.These are just a few examples of the diverse applications of quantum computing,and our platform makes it attainable for these companies,regardless of their technical background.
**Archyde:** Quantum computing is often shrouded in technical jargon and perceived as something only accessible to research institutions or tech giants. How is BlueQubit working to change that perception?
**Hrant:** We’re committed to making quantum computing understandable and accessible to a broader audience. Our platform is designed with user-friendliness in mind, offering intuitive interfaces and educational resources. We also aim to foster a strong community of users through workshops, webinars, and support forums, creating a collaborative space for learning and experimentation.
**Archyde:** You mentioned that quantum computing is “the next frontier of computational power.” What specific advancements do you see coming out of this technology in the near future?
**hrant:** I believe we’re on the cusp of groundbreaking discoveries. Quantum computing has the potential to revolutionize fields like medicine, materials science, artificial intelligence, and cybersecurity. We could see faster drug finding, development of novel materials, creation of more elegant AI models, and ultimately, solutions to some of the world’s most pressing challenges.
**Archyde:** What are BlueQubit’s goals for the next year?
**Hrant:** This funding will allow us to expand our development team, enhance our platform features, and forge strategic partnerships. We’re focused on building a robust ecosystem around our platform,attracting developers,researchers,and businesses who want to be at the forefront of the quantum revolution.
**Archyde:** Hrant, thank you for shedding light on bluequbit’s vision and the exciting future of quantum computing. We look forward to seeing your journey unfold.
**Hrant:** Thank you for having me. I believe the future is quantum, and I’m excited to be a part of making it accessible to everyone.
## Archyde Exclusive: BlueQubit CEO on Democratizing Quantum Computing
**Archyde:** Welcome too Archyde, Hrant. Congratulations on securing $10 million in seed funding.This is a significant milestone for BlueQubit.
**Hrant Ghairbyan:** Thank you! We’re thrilled with teh backing from such a strong group of investors, including Nyca Partners, Restive, Chaac Ventures, and others. It’s a validation of our vision to make quantum computing accessible to everyone.
**archyde:** Your platform is described as a “managed quantum software-as-a-service” offering. Can you explain what that means and who would benefit from it?
**Hrant:** Essentially,we’re building a bridge between the complex world of quantum computing and businesses who want to leverage its power. Our platform offers easy-to-use tools and resources, allowing developers with varying levels of quantum expertise to build, test, and deploy quantum algorithms.
Think of it like this: We handle the complex infrastructure and management of quantum hardware, while providing developers with the software and support they need to focus on solving problems using quantum computing.
**Archyde:** That’s engaging. Can you give us some examples of the types of businesses that could benefit from BlueQubit’s platform?
**Hrant:** Absolutely. Our platform is versatile and can be used across a wide range of industries. For example:
* **Financial institutions:** Can leverage quantum algorithms for faster and more accurate risk modeling,portfolio optimization,and fraud detection.
* **Pharmaceutical companies:** Can accelerate drug discovery and materials science research by simulating molecular interactions at an unprecedented level of detail.
* **Logistics and supply chain companies:** Can optimize routes, inventory management, and delivery schedules, leading to significant cost savings and efficiency improvements.
* **Any business facing complex optimization problems:** Quantum computing can unlock solutions that are simply unachievable for classical computers to handle in a reasonable timeframe.
**Archyde:** This sounds revolutionary. What are some of the biggest challenges you’re facing in bringing quantum computing to the mainstream?
**Hrant:** One of the biggest challenges is educating the market about the potential of quantum computing and dispelling some of the myths surrounding it. It’s still a relatively new technology, and many people don’t fully understand its capabilities or how it can be applied to solve real-world problems.
Another challenge is the progress of robust and scalable quantum hardware. while significant progress has been made in recent years, we’re still early in the development cycle.
**Archyde:** What are your plans for the future of BlueQubit?
**Hrant:** We’re focused on continuing to expand our platform and ecosystem,adding new features and tools to make quantum computing even more accessible and user-friendly. We’re also actively working with partners and customers to develop innovative quantum applications that address real-world challenges.
**Our goal is to be at the forefront of the quantum revolution, empowering businesses of all sizes to harness the power of this transformative technology.**
