Amsterdam, 9 August 2021 - Qu&Co closes new investment round to accelerate and expand the development of its quantum application platforms for chemistry, multiphysics and finance.
Qu&Co, a leading European quantum computational software developer, today announced the completion of a new round of funding led by Quantonation and with investments from Runa Capital and SPInvest. The company will use these additional funds to further accelerate and expand the research and development activities for its quantum platform products for chemistry and materials simulation, multiphysics simulation and computational finance.
A recent Boston Consulting Group study estimates that quantum computing could create value of $450-850 billion in the next 15 to 30 years, with $5-10 billion available within the next 3 to 5 years. Qu&Co is tapping into this market by developing quantum computational algorithms and platform products for quantum enhanced simulation and quantum enhanced machine learning, which BCG estimates to account for about half of the total quantum computing market.
"We are thrilled to lead this round and support Benno and Vincent and the team in the next phase of their development." said Christophe Jurczak, managing partner at Quantonation. "We’re seeing tremendous progress on the quantum computing hardware side, Qu&Co’s current and future quantum software products will be key to bring enterprises to benefit from quantum advantage"
Dmitry Galperin, partner at Runa Capital, added: "World-leading companies are already turning to quantum to find solutions to their most challenging problems and stay competitive in the future. Qu&Co's platform and algorithms make the company exceptionally well positioned to capture this trend and we are happy to support them in this journey."
Qu&Co was founded by Benno Broer (CEO) and Vincent Elfving (CTO) in 2017 in Amsterdam, the Netherlands and has R&D activities in the Netherlands, the UK, France, Germany, and Spain. The company’s clients include Johnson & Johnson, LG Electronics, Covestro, BMW Group and Airbus, it has partnerships with most of the leading US and European quantum hardware players and R&D collaborations with prominent quantum academics from top Universities around the world. The company’s previous investment round closed in June 2020.
For more information on Qu&Co please visit: https://www.quandco.com/
About Quantonation - Quantonation is an international venture capital firm headquartered in Paris, France that is dedicated to quantum technologies and innovative physics. Quantonation aims to support the transition of these disruptive deep technologies to marketable products for the industry. For more information, please visit: https://www.quantonation.com
About Runa Capital - Runa Capital is an international venture capital firm headquartered in Palo Alto, California, United States that invests in (deep) tech in areas areas like quantum computing, AI and machine learning, middleware, open-source software, cloud business software, fintech, edutech and digital health. For more information, please visit: https://runacap.com
About SPInvest – SPInvest is the investment vehicle of Joseph Peeraer, a technology entrepreneur and deeptech investor. Later this year, Peeraer expects to formally launch an new early-stage deeptech focused venture capital fund and his investment in Qu&Co will be a cornerstone investment for this new fund.
Amsterdam, Leiden, Kyoto, 29 June 2021 - Qu&Co, Dutch and Japanese academics working together to bridge the gap between quantum computing theory and real-world applications
Qu&Co a leading European quantum software developer will be collaborating with Vedran Dunjko of the Leiden University applied Quantum algorithms (aQa) initiative and with Tomoyuki Morimae of Kyoto University on research into novel quantum computational algorithms and methods.
The collaboration will focus on the development of specialised classes of quantum algorithms for quantum enhanced machine learning and for complex system verification. Application areas of interest for the collaboration will be related to the financial sector including trading and asset management.
"Although machine learning may intuitively not seem like a quantum native problem, our recent progress in this field shows that, with the right approach, there is a lot of potential in quantum enhanced machine learning” said Benno Broer, CEO at Qu & Co.
"Quantum computing hardware is slowly becoming available, but quantum resources are still limited and so is our understanding of how we can best employ such devices. However, given the recent progress in quantum-enhanced machine learning, this application field seems a promising candidate for realizing a quantum advantage with near term quantum hardware.” Commented Vedran Dunjko, assistant professor in Leiden and a co-founder of aQa.
One future obstacle to circumvent is how to guarantee the quality of quantum computational solutions, once these computations are beyond the reach of classical computers typically used to benchmark their results.
"Quantum computers offer not just faster computations, but also new fundamentally quantum methods to ensure the computations are correct. We will investigate if these methods can lead ways to guarantee the quality of results of quantum computations", explained Tomoyuki Morimae, associate professor in Kyoto University.
Results of this collaboration will come to benefit the budding quantum technology landscape in the Netherlands and Japan and of the wide spectrum of Qu&Co corporate clients.
Amsterdam, 31 May 2021 - Qu&Co announces multi-year research collaboration with Janssen Pharmaceuticals to develop and test quantum computational methods for applications in pharma R&D
Qu&Co, a European quantum computational software developer and Janssen Pharmaceuticals, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, are launching a three-year research collaboration to develop and test novel quantum computational algorithms and software for applications in pharmaceutical R&D.
Computational chemistry and machine learning techniques have become powerful tools to accelerate pharmaceutical R&D and quantum computing, in-time, promises to bring further enhancements of such techniques and tools. This collaboration with Qu&Co will determine how pharmaceutical R&D could benefit from quantum computing and on what timeframe one could expect to see the earliest benefits.
Vincent Elfving, CTO at Qu&Co: “Collaborations with deep domain experts in computational chemistry are key for us to understand where the conventional best-in-class computational techniques are struggling, so that we focus our research on those areas where there is a potential promise of industry relevant quantum advantage”
The collaboration will focus on developing quantum computational solutions and testing them on quantum processors. Part of the research will also employ ‘QUBEC’, Qu&Co’s platform for quantum computational chemistry and materials-science, which offers corporate researchers a glimpse of what the future of computational chemistry will look like.
About Qu & Co
Qu&Co is a quantum computational software company founded in 2017 in Amsterdam, the Netherlands. Its software will empower corporate researchers to run complex chemistry and multiphysics simulations on future quantum processors with unprecedented accuracy and speed. Qu&Co’s SaaS quantum solutions, like its chemistry and materials-science platform ‘QUBEC’, include unique and patented quantum algorithms and are distributed as backend integrations to leading conventional software packages. Qu&Co clients include corporate researchers from a range of large multinationals, and it has partnerships with US and European quantum hardware players and R&D collaborations with leading Universities from around the world. For more information visit www.quandco.com.
About Janssen Pharmaceuticals
At Janssen, we're creating a future where disease is a thing of the past. We're the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular & Metabolism, Immunology, Infectious Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary Hypertension. Learn more at www.janssen.com.
Europe, 14 April 2021 - European Quantum Industry Consortium kicks-off work
The European Quantum Industry Consortium (QuIC) announced its successful kick-off with its General Assembly event held online on April 14. The event gathered more than 100 members from all sectors of the quantum technologies industry in Europe, representing SMEs, large corporations, venture capitalists as well as research organizations, academic institutions and other industrial associations from all over the continent.
The work towards establishing a quantum industry consortium started in early 2020 when the Quantum Community Network, one of the three governing bodies of the Quantum Flagship initiative, expressed the need of a “privately owned body with the mission to advocate, promote, and foster the common interests of the European Quantum Industry towards all Quantum Technologies stakeholders”.
The European quantum community, led by Tommaso Calarco from the Forschungszentrum Jülich and Thomas Strohm from Bosch, laid the foundation of what today has been launched as the reference consortium officially recognised by the European Commission which represents the interests of the quantum technologies industry in Europe. “The Quantum Community N etwork and Jülich Forschungszentrum are especially happy to have witnessed today, after almost two years of hard work, the birth of the European Quantum Industry Consortium. By coherently bringing forward the voice of industrial stak eholders of quantum technology, QuIC will join forces with all other European quantum initiatives to overcome any possible quantum winter and make the European digital decade into a quantum decade" said Tommaso Calarco, Chair of the Quantum Community Netw ork and Head of the Quantum Control division of the Peter Grünberg Institute at Forschungszentrum Jülich.
At the General Assembly, the QuIC officially appointed its governing board, electing Laure Le Bars (SAP) as president, Benno Broer (Qu&Co) and Thomas Strohm (Bosch) as vice presidents, and Enrique Lizaso (Multiverse Computing) as its treasurer. Furthermore, all chairs of the nine working groups presented their objectives, milestones and deliverables, with an outlook on the future tasks. “The second quantum revolution will bring transformative advances to science, industry and society. I am convinced that Europe can lead in research, innovation and development of quantum technologies. Establishing the QuIC as a collaborative hub throughout Europe and building a strong, vibrant ecosystem between SMEs, large companies, investors, and leading-edge researchers can only boost Europe’s competitiveness. Together, we are developing strategic roadmaps, engaging in pre-standardisation activities, developing IP strategies, and determining needs in education and skills. We are also looking forward to collaborating with the European Commission and other stakeholders.” said Laure Le Bars, Research Project Director at SAP Technology & Innovation.
During the event, representatives of the European Commission, namely Thomas Skordas and Gustav Kalbe from the Directorate‑General for Communications Networks, Content and Technology (DG CONNECT), presented their views and shared their expectations on the newly established QuIC. “The establishment of the QUIC consortium comes at a time when Union has ambitious plans for quantum research and technology deployment in Europe, in order to make the digital decade a reality. The association will be a precious partner in contributing to these aims and in developing a thriving quantum industrial ecosystem in Europe.” said Thomas Skordas, Director of Digital Excellence and Science Infrastructure at DG Connect.
Amsterdam, 16 March 2021 - Qu&Co releases QUBEC, the first quantum computational platform specifically designed for chemistry and materials science.
Qu&Co, the European quantum computational software developer, is pleased to announce the beta release of QUBEC, the first quantum computational platform explicitly designed for chemistry and materials science. QUBEC was co-designed by quantum chemists and material scientists. It comprises chemistry-specific algorithms and process automation and is integrated with Schrödinger's Maestro chemical modelling interface.
Quantum mechanical simulations have become a powerful tool to accelerate chemistry and materials science and design, however executing the same computations on quantum computers so far remains at an early stage of development. “Although current day quantum processors are not yet capable of outperforming conventional computers for chemical simulations, Qu&Co is now offering a glimpse of what the future of quantum chemistry simulations will look like.” Said dr. Vincent Elfving, CTO at Qu&Co. “In that future, corporate researchers will be able to apply quantum computational subroutines directly in their existing conventional computational workflows, so that they can benefit from the improved accuracy and scaling offered by future quantum processors.”
QUBEC incorporates state-of-the-art proprietary and open-source chemistry algorithms. Hybrid quantum-classical algorithms allow researchers to experiment with small-scale quantum processors, to which QUBEC offers access through an integration with the IBM Quantum Experience and Amazon Braket platforms. “Many of our clients want to know when they will be able to solve their industry sized problems on some future quantum processor,” said dr. Mario Dagrada, VP of Quantum Software at Qu&Co. “To help provide such insights, QUBEC contains our automated quantum resource estimator, Q-time, that calculates the required quantum hardware specifications and estimated wall clock runtime requirements for future fault-tolerant simulations to a desired level of precision.”
“We know from experience that developing and running quantum computing solutions is a highly specialized job,” said dr. Elfving. “Therefore, we have decided to make the expertise of our quantum-developers accessible in a scalable and cost-efficient way by including a high level of automation in our platform. Our aim is that a corporate researcher can obtain good results from our solutions with only a minimal amount of training in quantum computing.” QUBEC handles pre- and post-processing of data and includes tools which automatically optimize the parameterization of the quantum algorithms and the handling of the quantum processors. For expert users, these settings can also be fine-tuned from within the GUI and programmatic API.
In September 2019 Qu&Co started a collaboration with Schrödinger Inc. to advance the use of quantum algorithms on complex chemical systems using quantum computing hardware. Within Qu&Co’s beta testing environment, QUBEC users can now set-up quantum computational simulations directly in Schrödinger’s Maestro user interface, from where they can run chemistry simulations on current day quantum processors.
“Quantum computational software is likely to become a powerful addition to existing conventional tools, such as the ones we have developed at Schrödinger,” said Pat Lorton, CTO of Schrödinger. “The integration of quantum and conventional computations may be the key to solving many difficult problems. We are pleased to be working with Qu&Co, a leading quantum software provider, to pursue our shared goals of continued innovation in chemistry and materials science.”
The current beta release of QUBEC is available to a select group of corporate clients. Over the next years Qu&Co will continue to work closely with its corporate clients and academic partners to further advance the field of quantum computational chemistry and materials science striving to reach the point where QUBEC can deliver industry relevant quantum advantage directly within existing classical workflows. Interested corporate researchers can request beta access to QUBEC by registering at www.quandco.com/product.
About Qu & Co
Qu&Co is a quantum computational software company founded in 2017 in Amsterdam, the Netherlands. Our software will empower corporate researchers to run complex chemistry and multiphysics simulations on future quantum processors with unprecedented accuracy and speed. Our SaaS platform solutions include unique and patented quantum algorithms and are distributed as backend integrations to leading conventional software packages. Our clients are corporate researchers from large multinationals, our partners include US and European quantum hardware players, our R&D is supported by an academic advisory board with professors in quantum machine learning and quantum chemistry and our team combines the necessary strengths in quantum information science with solid experience in B2B sales and business development. Visit www.quandco.com for more information.
Media and Investor Contact:
Benno Broer, Qu&Co
Amsterdam, 27 January 2021 - Qu&Co appoints Dr. Thierry Botter as business development advisor.
Quantum software development startup Qu&Co is delighted to announce the appointment of Dr. Thierry Botter as a business development advisor to the company. In this role Thierry will support Qu&Co in building valuable business relations with partners, clients, financiers and relevant public bodies.
Benno Broer, CEO at Qu&Co: “we are delighted that Thierry will be working with us. He brings an exceptional track record in (corporate) R&D, key insights in the needs of our customers and a broad network in the global Quantum Technologies industry, amplifying our momentum in building a leading global franchise in quantum software”
Thierry is currently the deputy head of central R&D at Airbus, where he also established and leads Airbus' long-term scientific research team, Airbus Blue Sky. Thierry has built a broad network within the quantum technology industry. He serves as an advisor to the EU Quantum Technologies Flagship, a 1B€ funding program for quantum research established by the European Commission. Thierry is also a Venture Partner at Quantonation, a venture capital firm dedicated to early-stage investments in deep physics startups with a focus on the emerging and disruptive field of Quantum Technologies. Additionally, Thierry serves as a board observer at QC Ware, a US based startup developing enterprise software for quantum computing. He holds a PhD in physics from the University of California, Berkeley.
Thierry Botter, “I am delighted to be joining Qu&Co as an advisor. The company and its community of contributors have developed an impressive set of early quantum-computing software solutions. I am excited to help Qu&Co continue to grow and become an important pillar of the global quantum-computing landscape.”
Qu&Co is a quantum-computational software development business founded in 2017 in Amsterdam, the Netherlands. We develop quantum algorithms and quantum software for chemistry and multiphysics simulations. Our quantum developers work closely together with the domain experts of our clients and with our academic advisors to develop and implement novel and tailor-made quantum algorithms to solve industry relevant problems and we turn these quantum algorithms into practical quantum software products. We have built a client portfolio with leading multinational corporations from different industries and we have built partnerships with the leading quantum-hardware developers from Europe and North America.