As quantum computing race heats up, 5 startups to watch beyond Big Tech
Beyond the AI boom, the race to build a practical quantum computer is starting to heat up among big tech companies and Silicon Valley investors.
Microsoft President Brad Smith called on the Trump administration to prioritise funding quantum research or risk falling behind China in the development of such technology.
'While most believe that the United States still holds the lead position, we cannot afford to rule out the possibility of a strategic surprise or that China may already be at parity with the United States. Simply put, the United States cannot afford to fall behind, or worse, lose the race entirely,' Smith wrote in a blog post published on Monday, April 28.
Tech giants such as Google, IBM, Microsoft, and Amazon have all been working towards building a quantum computer capable of solving complex problems that are beyond the reach of classical computers.
However, several startups and smaller tech companies are also rising to the challenge.
Quantum computing systems have long been considered as the key that can unlock major discoveries like sustainable materials for better batteries or new drug therapy treatments. But there are several technical hurdles that need to be addressed along the way such as developing chips that can host large numbers of quantum bits or qubits in a stable state without requiring much error correction.
Here is a look at some of the startups driving innovation in quantum chip development across the world.
PsiQuantum: Founded by Australian academics, the startup aims to build a one-million qubit machine using photonics technology. Earlier this year, PsiQuantum announced that it has developed a new quantum photonic chipset called Omega that has been manufactured by GlobalFoundries in New York.
Atom Computing: The US-based startup is looking to build a practical quantum computer powered by arrays of optically trapped neutral atoms. It has partnered with Microsoft to launch a commercial quantum computer in 2025.
IQM: The Finland-based company is developing superconducting quantum computers. It has received funding from the Business Finland government agency and the EIC Accelerator program.
Pasqal: The French startup is betting on neural atoms in its full-stack approach to quantum computing. Alain Aspect, one of the co-founders of the startup, won the Nobel Prize in Physics in 2022. Pasqal's investors include Singapore's Temasek, Quantonation, the Defense Innovation Fund, Daphni, and Eni Next, as well as new investors European Innovation Council (EIC) Fund, Wa'ed Ventures, and Bpifrance.
Rigetti Computing: The quantum computing player is focused on superconducting technology. It has developed a range of products including Ankaa-3 and the upcoming 336-qubit Lyra system. The listed company was founded in 2013 and has signed a strategic partnership with Taiwan-based Quanta Computer to quicken the pace of development of superconducting quantum computing.
In India, eight startups were chosen to receive government support under the National Quantum Mission (NQM) and the National Mission on Interdisciplinary Cyber-Physical Systems (NMICPS). These players include Bengaluru -based QNu Labs, QPiAI, Quan2D Technologies, IIT Bombay's Dimira Technologies, IIT Delhi -incubated Prenishq, QuPrayog from Pune, Quanastra from Delhi, and Ahmedabad 's Pristine Diamond.
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