QC Ware announced that it has been awarded a $1.5 million project in Deeptech Development Funding from Banque publique d’investissement (Bpifrance), a French public investment bank. One of QC Ware’s financial customers is Goldman Sachs.
The funding will be used to develop two new quantum software APIs for deep learning and finance which will be integrated into QC Ware’s Forge quantum-as-a-service platform. With a goal to create a quantum software ecosystem in Europe, the funds will also be used to hire ten new employees for QC Ware’s Paris office within the next three years.
By potentially halving the industry timeline for quantum advantage, QC Ware has boosted enterprise and US federal sector adoption of its algorithms for quantum machine learning, quantum Monte Carlo simulations, and quantum optimization.
Iordanis Kerenidis, head of Quantum Algorithms for QC Ware, said in a statement: “Quantum computing promises to revolutionize the future of information technology. With this new funding, we plan to continue growing the quantum software ecosystem in Europe from our Paris offices and fuel our mission to help companies in Europe and around the world prepare for the upcoming quantum disruption.”
Designed for data scientists and quantum engineers, Forge delivers a competitively advantageous path to quantum readiness. Forge distinguishes itself from other quantum computing cloud services by providing data scientists with access to pioneering and fine-tuned turnkey quantum algorithms for practical industry problems.