ELMSFORD, N.Y., April 10, 2020 — Seeqc announced funding of $5 Million from M Ventures, the strategic corporate venture capital arm of Merck KGaA, Darmstadt, Germany to develop commercially viable quantum computing systems for problem-specific applications.
The M Ventures funding follows a $6.8 million seed round from investors including BlueYard Capital, Cambium, NewLab and the Partnership Fund for New York City.
Seeqc is developing a new approach to making quantum computing useful, via fully Digital Quantum Computing. The solution combines classical and quantum computing to form an all-digital architecture through a system-on-a-chip design that utilizes 10-40 GHz superconductive classical co-processing to address the efficiency, stability and cost issues endemic to quantum computing systems. Seeqc recently spun out of HYPRES, Inc., the world’s leading developer of superconductor electronics, to pursue a vision of making quantum computing useful, commercially and at scale.
Through the spin-out, Seeqc acquired significant infrastructure and intellectual property from HYPRES. HYPRES had garnered over $100 million from public and private investments to develop a multi-layer commercial superconductor chip foundry and intellectual property. This investment was in support of creating commercial superconductive computing solutions, much of which is now part of Seeqc.