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Want to know about the companies making waves in the quantum industry? SiliconRepublic.com have put together a list of quantum start-ups to watch out for.
One of the most exciting areas in the deep-tech realm is quantum computing. Quantum computers are powerful machines that can process vast amounts of data and, when fully realised, could solve problems that are too advanced for modern supercomputers and could lead to significant benefits for humanity.
With the potential for having major effects on areas such as digital communications, encryption and even drug discovery, it’s no surprise that the world is closely following the advances of quantum. With Deep Tech Week currently underway at SiliconRepublic.com, we have compiled a list of 14 quantum start-ups that are making waves in the industry.
Alice & Bob
French quantum company Alice & Bob was founded by Dr Raphaël Lescanne and Dr Théau Peronnin in 2020 with the goal of creating the first universal, fault-tolerant quantum computer. In March of this year, the company along with its academic partners received €16.5m in government funding to fast-track the road to quantum computers.
Ephos
Founded in 2022, Milan-based start-up Ephos designs and manufactures glass-based integrated photonic circuits for use in both classical computing and quantum devices. Unlike traditional chip manufacturers, which use silicon-based technologies, Ephos’s chips are built on glass substrates, which can minimise electrical interference, support higher frequencies and reduce signal loss (interference between signals in nearby circuits). The start-up, which is led by CEO and co-founder Andrea Rocchetto, recently raised $8.5m to open a state-of-the-art research and manufacturing facility in Italy.
Equal1
Irish quantum computing company Equal1 has developed a quantum system-on-a-chip processor that integrates a full quantum system onto a single chip. The University College Dublin spin-out – which was founded by Dr Dirk Leipold, Mike Asker and Prof Robert Staszewski — won this year’s Quantum Business Innovation and Growth prize, and just last month signed a memorandum of understanding with chip giant Nvidia to work together on quantum technology use cases, business models and proofs of concept.
IQM Quantum Computers
Founded in 2018, this Finland-based company builds quantum computers and applications for research institutions and business enterprises. Founded by a team of scientists including Dr Jan Goetz, Dr Juha Vartiainen, Dr Kuan Yen Tan and Dr Mikko Möttönen, the company raised €128M in Series A2 funding in 2022 and recently received funding from the French government to build the first industrial-scale quantum processor production facility in Europe.
Kvantify
This Danish start-up was founded in 2022 by Hans Henrik H Knudsen, Nikolaj Zinner and Allan Grønlund with the goal of creating software that makes quantum computing and high-performance computing available to businesses. Earlier this year, the Nordic company raised €10m in seed funding to leverage quantum computing to address complex problems in drug discovery.
Nu Quantum
Our current Start-up of the Week Nu Quantum wants to “unlock commercial quantum scale-out” by developing advanced entanglement tech. The UK-based start-up, which was founded in 2018 by Dr Carmen Palacios-Berraquero, wants to help scale and mature the quantum industry through its quantum networking tech, and is currently raising its full Series A funding after raising £7m in pre-Series A funding last year.
Pasqal
Founded in 2019, this French quantum start-up builds programmable quantum simulators and quantum computers made of 2D and 3D atomic arrays. Pasqal raised €100 million in a Series B funding round in January 2023, and in June 2024 announced a partnership with IBM to develop a common approach to quantum-centric supercomputing.
PQShield
This Oxford University spin-out is a cybersecurity company that specialises in post-quantum cryptography (PQC), which are types of cryptographic algorithms that protect businesses against cyberattacks by quantum computers. Founded in 2018 by Oxford academic Ali El Kaafarani, the company raised $37m in Series B funding earlier this year to accelerate the global adoption of PQC.
PsiQuantum
This Palo Alto-based start-up, which was founded in 2015, wants to build the “world’s first useful quantum computer”. Founded by Jeremy O’Brien, Terry Rudolph, Peter Shadbolt and Mark Thompson, the start-up made headlines earlier this year after raising A$940m through government funding in Australia to build a utility-scale quantum computer at a site near Brisbane Airport.
Quanscient
Finnish company Quanscient develops cloud and quantum computing-powered multiphysics simulation technology which it says can speed up the testing phase of product development. Founded in 2021 by Juha Riippi, Dr Alexandre Halbach, Asser Lähdemäki and Dr Valtteri Lahtinen, the start-up raised €3.9 million in seed funding last year.
Quantum Motion
Founded in 2017, Quantum Motion Technologies is developing silicon quantum processors to be used for the creation of a functional, fault-tolerant quantum computer. The company, which spun out of University College London and Oxford, raised £42m in Series B funding last year, and recently opened a new lab in Sydney at Cicada Innovations.
QuantWare
This Dutch start-up was founded in 2021 with the goal of accelerating the usefulness of quantum computers by developing quantum hardware. In 2023, the company launched a 64-qubit quantum processor and raised €6m in seed funding a month later.
Qubitrium
Turkish start-up Qubitrium was founded by Dr Kadir Durak in 2020 and develops solutions to problems in quantum cryptography, communication and quantum sensing. Last month, the company raised €1.5m in seed funding from ACT Venture Partners to launch a 2U-sized satellite equipped with a quantum key distribution payload.
Riverlane
UK quantum start-up Riverlane is working on an error-correction system for quantum computers, with the goal of achieving 1m error-free quantum computer operations by 2026. The start-up has attracted significant attention in the past two years, raising £15m in a Series B round last year and a further $75m in Series C funding earlier this year amid rising demand.
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