Horizon Quantum Computing raises $18M for its gamechanging proposal
A developer of tools to use classical computing languages for quantum computers, Horizon Quantum Computing raises $18 million
The Singapore-based developer has found a way to build on the potential of quantum computers and their speed with respect to classical computers, eliminating the need for specialised knowledge. By simplifying the process of developing quantum software applications, the firm’s tools allow programmers to bypass the need to understand underlying quantum mechanics, automatically constructing quantum algorithms based on programs written in classical computing languages.
Funds to accelerate product development
In a Series A funding round, Horizon Quantum Computing recently picked up $18.1 million from the social networking and gaming giant Tencent among other investors, increasing its equity financing to around $21.3 million. The company says it will use the funds to boost its growth by strengthening its science and engineering teams to accelerate product development. Horizon Quantum Computing will also use the cash to establish its new engineering centre in Europe and bring the firm’s unique technology to the market.
“At Horizon, we focus on unlocking the power of future quantum computers, and have made significant headway towards our goal of enabling conventional software developers to take advantage of the technology through abstraction and automated algorithm synthesis. The new investment will support our effort to break through the barriers to useful quantum computation,” says Horizon’s CEO Dr Joe Fitzsimons.
Closing the talent gap
Quantum computers use the properties of quantum physics to store data and perform computations, giving quantum machines the ability to outperform normal computers. Developing software for these computers requires high-level specialised knowledge and according to McKinsey Digital a huge talent gap remains in the sector.
There are not enough experts with advanced degrees in the field to meet the high demand coming from industry. Thus, tools like Horizon’s could enable non-specialised developers to keep up with the pace of quantum computing without specialised knowledge.
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