Thursday, April 18, 2024
HomeFunding Multiverse Computing and Single Quantum Raises $1.4Million in Funding

[Funding alert] Multiverse Computing and Single Quantum Raises $1.4Million in Funding

Multiverse Computing and Single Quantum raises $1.4million in funding with the German Aerospace Center’s DLR Quantum Computing Initiative (DLR QCI). DLR researchers expect this work to enable quantum applications that outperform classical methods in the short- to mid-term on quantum hardware currently under development.

Multiverse Computing and Single Quantum raises $1.4million in funding with the German Aerospace Center’s DLR Quantum Computing Initiative (DLR QCI). DLR researchers expect this work to enable quantum applications that outperform classical methods in the short- to mid-term on quantum hardware currently under development.

The two quantum companies won funding through a competitive bidding process to use quantum simulation to improve the transmission capabilities of superconducting nanowire single photon detectors. These detectors are essential for quantum communications devices and more accurate than other types of photon detectors.

Read also – Copenhagen-based Pluto.markets Secures €2.4 Million in Funding

There are multiple additional use cases for single photon detectors ranging from quantum computing to deep-space communication and bio-imaging. DLR’s exploration of these use cases aims to achieve quantum applications that outperform classical methods across transport, energy and security.

Multiverse Computing and Single Quantum will use quantum simulation to improve the superconducting film that allows the hardware to detect photons.

Read also – Vilnius-based Axiology Secures €2 Million in Funding

Enrique Lizaso-Olmos, co-founder and CEO of Multiverse Computing said, “Materials simulation is a huge research area where we know classical computing has significant limitations, Finding new methods to efficiently simulate materials using quantum computing has great potential, and it is a problem worth investing in the long term due to its high value.”

Multiverse’s quantum algorithm experts will work with hardware engineers at Single Quantum to create an algorithm specifically designed for the DLR QCI’s quantum computers.

Read also – Stockholm-based MANTLE Raises over €2.8 Million in Funding

Single Quantum specializes in fast and highly sensitive light sensors based on a superconducting nanowire single photon architecture. The company was among the first to manufacture and commercialize superconducting nanowire single photon detectors.

Andreas Fognini, Chief Technology Officer at Single Quantum said, “Our technology combines unparalleled detection efficiency and time resolution to make our superconducting detectors the ideal choice for many use cases, including quantum communication and cryptography, We expect this work with Multiverse Computing and DLR to refine these capabilities even further.”

Other teams within the larger DLR QCI initiative will be able to use the knowledge from this project to simulate other materials or conduct additional quantum simulations, according to the researchers.

Launched in 2021, the objective of the DLR QCI is to develop and expand the agency’s quantum competencies and strengthen the quantum computing ecosystem. The Algorithms for Quantum Computer Development in Hardware-Software Codesign (ALQU) is one of many application projects within the DLR QCI.

Read also – Stockholm-based Myrspoven Secures €5.4 Million in Funding

The materials science research led by Multiverse and Single Quantum will support two goals in the ALQU’s work: the efficient compilation of circuits on quantum hardware and the development of quantum algorithms for industrial use.

About Single Quantum

Single Quantum pioneers the innovation and commercialization of superconducting nanowire single photon detection systems. The systems are designed for demanding applications in quantum information technology, quantum communication, quantum cryptography, infrared time-resolved spectroscopy, and laser ranging and remote sensing (LiDAR).

Read also – Budapest-based Qneiform Secures €750k in Pre-Seed Funding

About Multiverse Computing

Multiverse Computing is a leading quantum software company that applies quantum and quantum-inspired solutions to tackle complex problems in finance, banking, manufacturing, energy, and cybersecurity to deliver value today and enable a more resilient and prosperous economy.

Read also – London-based Lilli Secures £8.2 Million in Series A Round Funding

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular