Horizon Quantum Computing rakes in $18.1m in Series A funding round
Singapore-based Horizon Quantum Computing has secured $18.1 million in a Series A funding round, taking the company’s total funding to around $21.3 million.
Horizon Quantum Computing anticipates using the proceeds from the round to scale, accelerate product development, and bring its technology to the market.
The quantum software startup will also use the proceeds to set up its new engineering center in Europe and boost its science and engineering teams.
The Horizon Quantum Computing Series A funding round saw participation from Sequoia Capital India, SGInnovate, Pappas Capital, Tencent, and Expeditions Fund.
Dr Joe Fitzsimons — Horizon Quantum Computing CEO said: “Quantum computing has the potential to completely change how we think about computing.
“While getting to large scale quantum computing is a daunting challenge, it is undeniable that progress towards that goal is being made.
“At Horizon, we focus on unlocking the power of future quantum computers, and have made significant headway towards our goal of enabling conventional software developers to take advantage of the technology through abstraction and automated algorithm synthesis.
“The new investment will support our effort to break through the barriers to useful quantum computation.”
Earlier, Sequoia Capital India and SGInnovate led the Seed+ and Seed rounds, respectively of Horizon Quantum Computing.
Founded in 2018 by Dr Joe Fitzsimons, Horizon Quantum Computing is developing a system for quantum software development to help developers bridge the gap between classical code and quantum accelerated applications.
Pieter Kemps — Partner, Surge at Sequoia Capital India and Southeast Asia said: “We believe in Joe’s product vision around abstracting the underlying quantum physics to enable developers to create quantum software with ease, and we have been hugely impressed by the technological breakthroughs that the team has achieved in a short period of time.”
Horizon Quantum Computing demonstrated its integrated development environment at the Q2B conference in Silicon Valley in December 2022.
Last year, the company also joined Singapore’s National Quantum-Safe Network and has recently witnessed the first data transmission from its node, allowing secure and privacy-preserving access to cloud-based quantum computers.
Horizon Quantum Computing has also recently announced that it would soon open its new engineering center in Ireland to mark its first European offices.