So much has been happening on the quantum technology front in recent days that it would be unwise to try to cram it all into one wrap-up story… but we’re going to try anyway:
…Electric vehicles have no more expensive component than the batteries, so automotive companies stand to see a huge benefit from anything that can be done to improve the quality and efficiency of EV batteries. Quantum computing, with its ability to efficiently simulate and analyze chemical reactions, offers unique potential to do just that. This week, quantum computing firm IonQ and Hyundai Motor Company, which also is an IonQ investor, embarked on a project to use IonQ’s quantum processors to simulate these reactions and build an advanced battery chemistry model that could influence the development of future generations of EV batteries…
…A recent study suggested that enterprise organizations may be ready to spend more on quantum computing, and quantum software company Quantum Computing Inc. (QCI) wants to help them do that. QCI announced a new consulting practice, QCI Qonsulting, as well as Path2Quantum (P2Q), a four-phase framework for enterprises that are ready to start planning their quantum computing deployment programs. QCI also announced employee staffing company Quad M Solutions will be the first Qonsulting customer, using the services to help plan for how quantum computing can enable optimization of its health insurance underwriting services…
…Research teams in Australia, Japan and the Netherlands each published study results showing they independently achieved operation gate fidelities above 99% in 1-qubit silicon-based quantum tests. Error correction is one of top challenges still facing quantum computing, and the ability to achieve higher accuracy rates will only give the technology a shorter timeline to widespread adoption…
…Could 2022 be as big of a year for quantum computing funding as 2021 was? It’s off to a good start: Berkeley, California-based Atom Computing raised another $60 million as the company works to advance its technology based on nuclear-spin qubit derived from optically-trapped neutral atoms. Third Point Ventures led the round, followed by Prime Movers Lab and other investors…
...Atom wasn’t the only company claiming new funding. Switzerland’s Terra Quantum also raised $60 million to fund its Quantum-as-a-service (QaaS) efforts. Expect to hear more about QaaS soon…
…And one other note from the financing front: CM-Equity and Quantum Business Network, both operating out of Germany (QBN) unveiled a €100 million fund (about $113 million) to be used to invest in early-stage quantum start-ups…
Watch for our weekly quantum update reports on future Friday afternoons...