Jan 13 (Reuters) – Haiqu, a start-up quantum software company, said it had raised $11 million in a fund-raising round led by Primary Venture Partners. Other investors involved in Haiqu’s fund-raising included Toyota Ventures, MacVenture Capital, Qudit Investments and Silicon Roundabout Ventures.
WHY IT MATTERS:
Quantum computers are faster than conventional computers and their technology is considered as vital for cybersecurity.
The fund-raising for Haiqu, which was founded in 2022 and has offices in the United States and London and Europe, highlights ongoing investor interest in this growing sector.
BY THE NUMBERS:
McKinsey has estimated that the overall quantum market could be worth $100 billion.
KEY QUOTE:
“Today, too little experimentation happens because quantum cloud costs are prohibitive and hardware performance remains insufficient. Our goal is to change that overnight with a software system that can run larger applications at a fraction of the cost,” said Richard Givhan, CEO and Co-founder of Haiqu, in a statement.
(Reporting by Sudip Kar-Gupta)
