Selection Criteria
For about two decades now, theoretical quantum physicists, engineers, and researchers have been taking their quantum computing (QC) ideas from their research labs to the real world. This trend has resulted in the launch of QC companies worldwide. In this article we will review some of the top Quantum Computing Startups in 2022.
Well, 2022 hasn’t been an exception as many experts unveiled their QC businesses in the year under review. According to data from startup analytics platform Tracxn, 41 QC startups were established in 2022. So, after analyzing and scrutinizing all 41 startups, we have rounded up the top 10 QC startups of 2022 (in no particular order).
The yardsticks used for selecting them are the uniqueness of product and service offerings, high growth prospects, team’s commitment to success, and the ability to attract investment funds.
Top 10 Quantum Computing Startups in 2022
Dissected below are the 10 leading Quantum Computing companies unveiled in 2022.
Diraq
Although Diraq was launched in 2022, its extensive research and development efforts were kicked off about two decades ago. Headquartered in Sydney, Diraq aims to redefine scalable computing and bring practical commercial applications to the world by building billions of qubits into a single chip. As the race to scale QC systems becomes more competitive, Diraq has assembled a team of experts to help make this dream come true.
In fact, the Australian QC firm has raised over $100 million in funding across nine patent families, enabling the innovative company to deploy today’s silicon CMOS and foundries to achieve its mission. The brainchild of Andrew Dzurak, a Scientia Professor of Quantum Engineering at UNSW Sydney, Diraq has proven thus far that nothing can stop it from taking its rightful place in the fast-growing QC world. As a result, it snagged a well-deserved spot on this list.
PlanQC GmbH
Founded in Germany’s Munich Quantum Valley (the first of its kind) in 2022, PlanQC is a neutral atom QC firm. The combination of atomic clocks, quantum gas microscopes, and high-speed Rydberg gates has culminated in the development of PlanQC’s QC machines. In June 2022, venture capital (VC) firms Speedinvest and UVC Partners coordinated PlanQC’s funding round.
At the end of the exercise, they didn’t disclose the amount realized. However, PlanQC is working hard to tackle some technical issues of today’s QC systems, such as building easily scalable qubits by rearranging them in unique arrays and manipulating them with laser pulses.
Atlantic Quantum
Building scalable QC systems is a daunting task. Hence, the NISQ era held sway. To change the narrative, Atlantic Quantum, a QC company launched by a team of scientists of the Engineering Quantum Systems (EQuS) group at MIT, is committing time, resources, and efforts to research studies to tackle the obstacle. In summary, Atlantic Quantum aims to build QC systems that are error-free and scalable.
By attracting some of the foremost industry experts, this American QC startup formed in the summer of 2022 deserves a spot on this list. On top of that, Atlantic Quantum has already secured $9 million in seed funding, which will help the team actualize its dream. The Engine, MIT’s spinout VC firm that invests in early-stage startups, helped Atlantic Quantum to secure the seed investment. Atlantic Quantum focuses on advancing superconducting qubit technology and deploying scalable hardware architecture.
SCALINQ
Operating from Gothenburg in Sweden, SCALING is a spinout of years of research and development at the Chalmers University of Technology, Sweden. As the name connotes, SCALINQ was launched in 2022 to help remove the barriers to scaling QC systems.
To this end, the team at SCALINQ comprises researchers and experts from various fields, including microwave engineering, hardware design, and quantum engineering. The QC firm has a clear-cut plan: to deepen the knowledge and application of QC superconducting materials for scaling qubits. SCALINQ has launched its first product known as Linqer, a high-density solution for hosting superconducting qubits, irrespective of the qubit count or chip size.
First Quantum Inc
Here comes another QC startup of 2022 that caught the industry attention. At First Quantum Inc., the priority remains to provide core QC applications with algorithmic optimization and intellectual properties that customers need. By using the proprietary quantum Karnaugh Map, a method of simplifying Boolean algebraic expressions, First Quantum Inc. reduces QC complexity and enhances hardware efficiency.
Still, First Quantum Inc. was launched in September 2022 and became the first-ever Korean firm to join the IBM Quantum Network, thereby positioning itself to enjoy IBM’s technical support and advanced quantum systems to unlock its enormous potential. Truly, First Quantum Inc. isn’t in the QC space to make up the numbers but to leave an enduring legacy.
Kvantify
Formed in March 2022 in Copenhagen, Denmark, Kvantify is a new QC startup that all eyes should be on. For a quick intro, Kvantify is a consulting firm that helps other firms reap the benefits of investing in quantum technology. Kvantify is unique because it aims to help businesses harness the full potential of quantum and high-performance computers as well as help businesses to get the value for their hard-earned money.
By working closely with other QC companies, Kvantify looks to tackle their peculiar challenges while focusing on critical areas it expects that quantum technology will add value the most. To this end, the Copenhagen-based company specializes in financial services, life sciences, and logistics. Sure, this is one unique way of leaving an indelible mark in the QC world in no distant time.
Q*Bird
In September 2022, Delft Quantum Ecosystem in the Netherlands witnessed the launch of Q*Bird, a QC firm on the mission to provide quantum networking equipment for today and future EU quantum internet environ. The EU company has already started building devices that enable users to communicate in quantum-secured environments.
Before the team behind Q*Bird unveiled it, they had operated for three years as an engineering group inside QuTech, the Dutch research institute for quantum technology. In the course of working in QuTech, they designed and built next-gen QKD (quantum key distribution) prototypes, which industry players have already test-run. No doubt, Q*Bird earned a position on this list of 10 QC startups of 2022 because the team does not seem to be resting on its laurels until they achieve their objective.
Qbitsoft
Qbitsoft is a subsidiary of the Blockchain Group, a global tech management team with over two centuries of managerial stint. Located in the Paris suburb of Puteaux and established in early 2022, Qbitsoft is a French software development company that is playing a fundamental role in helping companies migrate to the QC orbit.
As the QC revolution sweeps around the world, Qbitsoft provides a single cloud-based platform that enables enterprises to use quantum-powered algorithms and applications to simplify their complex business processes. At Qbitsoft, the team believes that quantum technology is a disruption, and it is helping enterprises to transition from bit to qubit.
Siquance
A spinout of France’s CEA and CNRS, Siquance is a quantum processor development company. By cashing in on the EU’s vast semiconductor industry, Siquance strives to become a name to reckon with in the global QC industry. The team hopes to develop and massively commercialize universal large-scale QC machines.
Founded in November 2022 in Grenoble, France, Siquance provides a wide array of quantum software solutions, including simulators, quantum compilers and optimizers, education software, and consultancy services. Given its role in advancing quantum technology, Siquance is positioning itself as the reference point for applying quantum technology in energy distribution, simulation of chemical properties, and logistic optimization. Sure, that’s why it made this list!
Stafford Computing
With three pivotal service points (quantum machine learning, optimization, and classical machine learning), Stafford Computing takes pride in improving rapidly evolving quantum technology. Plus, Stafford Computing uses innovative hybrid-classical algorithms to bring about the positive changes it seeks. As a result, its core areas of interest in the financial services industry are credit scoring, fraud detection, delinquency forecast, churn prediction, etc.
Established in July 2022 in Delaware, USA, Stafford Computing leverages quantum annealers to solve complex issues such as portfolio optimization, credit risk analysis, and derivative pricing. With the extensive research and work Cofounder Javier Mancilla and his team have done, there is no gainsaying that the Delaware-based company will help shape the future of the QC industry.
Final Thoughts
Months after they were unveiled, many Quantum Computing startups are still struggling to stay afloat! Thankfully, the Quantum Computing Startups in 2022 that made this list have proven to not only have clear-cut objectives and feasible strategies for realizing them but that they can walk the talk. Indeed, this shows that they will play a key role in helping this new disruptive technology to attain quantum supremacy.
What’s more, their growth prospects are glaringly obvious. Therefore, watch these new QC companies because they are promising, organized, dedicated, and focused on transforming the QC industry soon. Lastly, if you are looking for a new QC startup to invest in, select one from the list above, do your due diligence, put in your money, and watch it grow in the coming years.