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Primeur weekly 2019-09-16

Focus

France is preparing to host an EuroHPC exascale system in 2022/2023 ...

Crowd computing

Purdue's nanoHUB@Home project lets anyone contribute to cutting-edge nanotechnology research - no PhD required ...

Quantum computing

ABN AMRO and QuSoft partnership to explore the power of quantum software ...

Q-CTRL leaps into the global top-10 of quantum start-ups ...

Quantum computers by AQT and University of Innsbruck leverage Cirq for quantum algorithm development ...

IBM and Fraunhofer join forces on Quantum Computing Initiative for Germany ...

Focus on Europe

GENCI to deploy new strategic plan 2019-2023 ...

IBM and SKODA AUTO University collaborate on new digital skills for students ...

Middleware

ORNL staff to highlight OpenACC's role in HPC at Annual Meeting ...

Hardware

Panasas High-performance data storage supports environmentally responsible energy exploration at Magseis Fairfield ...

Supermicro expands high-performance SuperWorkstation system portfolio with launch of new solution ...

National Science Foundation $1,4 million grant will help develop cyberinfrastructure across Midwest ...

Applications

Brain-inspired computing could tackle big problems in a small way ...

From the subatomic to the intergalactic: scientists gather in Leicester to share supercomputer results ...

Artificial intelligence helps to predict hybrid nanoparticle structures ...

Computer simulations predicted structure of gold cluster that chops carbon dioxide ...

Forging new frontiers in AI education: Diercks Hall opens at Milwaukee School of Engineering ...

AI to help drive engine efficiencies on the road ...

ANSYS and LS-DYNA creator Livermore Software Technology Corporation sign definitive acquisition agreement ...

New computing education group joins TACC ...

GPUs power GE code at OLCF hackathons ...

The Cloud

Mellanox to ship record of more than one million ConnectX adapters in Q3 2019 ...

SUSE enhances delivery of modern containerized and Cloud native applications ...

Univa expands Navops launch multi-Cloud automation to the Slurm community ...

Univa unveils Navops Launch 2.0 ...

Q-CTRL leaps into the global top-10 of quantum start-ups


Q-CTRL founder and CEO Professor Michael J. Biercuk in the Sydney Nanoscience Hub at the University of Sydney Nano Institute. Credit: Q-CTRL.
10 Sep 2019 Sydney - The quantum technology company started by Professor Michael J. Biercuk from the University of Sydney has announced a $US 15 million venture capital fundraising round, which catapults Q-CTRL into the top-10 of global quantum start-ups.

"This funding is an exceptional acknowledgement of the value we're adding to the quantum community and a statement of support for our global ambitions", Professor Biercuk stated.

New funding for Q-CTRL is led by Australia's largest venture capital fund Square Peg Capital and adds a new syndicate member, Silicon Valley's Sierra Ventures.

The round also includes participation from existing investors including Sequoia Capital, Main Sequence Ventures, and Horizons Ventures.

This investment places Q-CTRL in the top-10 most successful fundraisers globally in the emerging quantum technology industry and constitutes one of Australia's largest venture-capital deals for 2019.

Q-CTRL specialises in solving one of the hardest problems in quantum computing - the inherent instability of hardware. Quantum computers are notoriously fragile; the machines being developed now by companies such as IBM, Rigetti and Google can only run operations for very short periods before errors creep in and programmes fail.

That fragility puts at risk the potential promise of quantum computers to revolutionise drug discovery, chemistry, materials science and even computations for finance.

Q-CTRL's web-based suite of infrastructure software is based on a decade of research undertaken at the University of Sydney's Quantum Control Laboratory run by Professor Biercuk.

Deputy Vice-Chancellor (Research) Professor Duncan Ivison stated: "This is a wonderful story about long-term investment in basic science leading to an outstanding commercial outcome for Australia. We congratulate Mike on his continuing success."

Q-CTRL's solutions are demonstrated in peer-reviewed journals to reduce hardware-error susceptibility by orders of magnitude, accelerating the pathway to the first commercially relevant quantum computers.

The company currently has Rigetti, Bleximo, Accenture, and others as customers. Last year it was chosen as the first company outside North America to be included in IBM's Q Network of start-ups working to advance the emerging quantum computing industry.

Professor Biercuk stated: "This capital raise will support major growth for the company, roughly doubling the 25-member team of quantum engineers and software developers. It will also support geographic expansion to include a new office in Los Angeles, bringing Q-CTRL staff closer to core customers in the US. It's a thrilling time for the team and this emerging industry."

Source: University of Sydney

Back to Table of contents

Primeur weekly 2019-09-16

Focus

France is preparing to host an EuroHPC exascale system in 2022/2023 ...

Crowd computing

Purdue's nanoHUB@Home project lets anyone contribute to cutting-edge nanotechnology research - no PhD required ...

Quantum computing

ABN AMRO and QuSoft partnership to explore the power of quantum software ...

Q-CTRL leaps into the global top-10 of quantum start-ups ...

Quantum computers by AQT and University of Innsbruck leverage Cirq for quantum algorithm development ...

IBM and Fraunhofer join forces on Quantum Computing Initiative for Germany ...

Focus on Europe

GENCI to deploy new strategic plan 2019-2023 ...

IBM and SKODA AUTO University collaborate on new digital skills for students ...

Middleware

ORNL staff to highlight OpenACC's role in HPC at Annual Meeting ...

Hardware

Panasas High-performance data storage supports environmentally responsible energy exploration at Magseis Fairfield ...

Supermicro expands high-performance SuperWorkstation system portfolio with launch of new solution ...

National Science Foundation $1,4 million grant will help develop cyberinfrastructure across Midwest ...

Applications

Brain-inspired computing could tackle big problems in a small way ...

From the subatomic to the intergalactic: scientists gather in Leicester to share supercomputer results ...

Artificial intelligence helps to predict hybrid nanoparticle structures ...

Computer simulations predicted structure of gold cluster that chops carbon dioxide ...

Forging new frontiers in AI education: Diercks Hall opens at Milwaukee School of Engineering ...

AI to help drive engine efficiencies on the road ...

ANSYS and LS-DYNA creator Livermore Software Technology Corporation sign definitive acquisition agreement ...

New computing education group joins TACC ...

GPUs power GE code at OLCF hackathons ...

The Cloud

Mellanox to ship record of more than one million ConnectX adapters in Q3 2019 ...

SUSE enhances delivery of modern containerized and Cloud native applications ...

Univa expands Navops launch multi-Cloud automation to the Slurm community ...

Univa unveils Navops Launch 2.0 ...