QC Ware Awarded a $1.5 Million Project in Deeptech Development Funding from Bpifrance to Create a Quantum Computing Software Ecosystem in Europe
Quantum Software and Services Leader Will Use Funding to Develop New Quantum Software APIs for Deep Learning and Finance and Fuel Expansion of European Operations in Paris
PALO ALTO, Calif. and PARIS, April 14, 2022 /PRNewswire/ -- QC Ware, a leading quantum software and services company, today announced that it has been awarded a $1.5M project in Deeptech Development Funding from Bpifrance. The funding will be used to develop two new quantum software APIs for deep learning and finance which will be integrated into QC Ware's Forge quantum-as-a-service platform. With a goal to create a quantum software ecosystem in Europe, the funds will also be used to hire ten new employees for QC Ware's Paris office within the next three years.
"We are honored to have been awarded our second grant from Bpifrance after the i-Nov award," said Iordanis Kerenidis, Head of Quantum Algorithms for QC Ware. "Quantum computing promises to revolutionize the future of information technology. With this new funding, we plan to continue growing the quantum software ecosystem in Europe from our Paris offices and fuel our mission to help companies in Europe and around the world prepare for the upcoming quantum disruption."
QC Ware's growing network of customers - which includes Aisin Group, Airbus, Air Force Research Laboratory (AFRL), BMW Group, Equinor, Goldman Sachs, and Total - collaborate with QC Ware on the design of practical algorithms that deliver performance on near-term quantum computing hardware. By potentially halving the industry timeline for quantum advantage, QC Ware has boosted enterprise and U.S. federal sector adoption of its algorithms for quantum machine learning, quantum Monte Carlo simulations, and quantum optimization. The company is experiencing brisk growth in collaborations with customers and hardware partners in fields that are ripe for quantum disruption, including chemistry simulations, materials discovery, drug design, and beyond.
Designed for data scientists and quantum engineers, Forge delivers a competitively advantageous path to quantum readiness. Forge distinguishes itself from other quantum computing cloud services by providing data scientists with access to pioneering and fine-tuned turnkey quantum algorithms for practical industry problems. Furthermore, quantum engineers can use Forge to gain access to the fundamental components of QC Ware's unique algorithmic IP and reuse these as building blocks for more complex approaches.
About QC Ware
QC Ware is a quantum software and services company focused on ensuring enterprises are prepared for the emerging quantum computing disruption. QC Ware specializes in the development of applications for near-term quantum computing hardware with a team composed of some of the industry's foremost experts in quantum computing. Its growing network of customers includes AFRL, Aisin Group, Airbus, BMW Group, Covestro, Equinor, Goldman Sachs, and Total. QC Ware Forge, the company's flagship quantum computing cloud service, is built for data scientists with no quantum computing background. It provides unique, performant, turnkey quantum computing algorithms. QC Ware is headquartered in Palo Alto, California, and supports its European customers through its subsidiary in Paris. QC Ware also organizes Q2B, the largest annual gathering of the international quantum computing community.
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SOURCE QC Ware Corp.
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