Quantum Circuits Chases Error-Detecting Quantum Computing

Quantum Circuits, a spinout from Yale University, has closed a $60 million Series B funding round to advance the development of its quantum computing technology.

Quantum Circuits’ proprietary technology focuses on integrating error detection mechanisms directly into superconducting qubit systems (a qubit, or quantum bit, is the basic unit of information in quantum computing). Quantum’s technologies include cloud-based quantum systems with real-time error detection capabilities based on a superconducting architecture. The company’s goal is to redefine quantum industry standards by offering improved accuracy, performance, and scalability.

New Haven, Connecticut-based Quantum, led by President and CEO Ray Smets, was founded by a team of quantum physicists led by Rob Schoelkopf, a Sterling Professor of Applied Physics at Yale and a pioneer in superconducting quantum computing.

“The founding goal for Quantum Circuits has always been to focus on the biggest challenge for quantum computing – to deliver reliable fault-tolerant and scalable quantum computers,” said Professor Schoelkopf, Quantum’s Chief Scientist. “We take the strategy of ‘correct first, then scale,’ using our built-in error detection and correction.”

“At Quantum Circuits, we are delivering the industry’s first full-stack quantum computing solution with built-in error detection to realize reliable and trusted quantum computing at scale,” said Mr. Smets. “By putting the power of error detection and real-time control into the hands of algorithm developers, we will accelerate their ability to create new solutions and achieve better results needed for commercial applications. The full Series B investment underscores the confidence in our approach.”

The Series B funding round was led by a consortium of venture capital firms, including ARCH Venture Partners, F-Prime Capital, Sequoia Capital, and Hither Creek Ventures. Also investing in the round were Canaan Partners, Fitz Gate Ventures, In-Q-Tel, Osage University Partners, Connecticut Innovations, Tao Capital Partners, and Tribeca Venture Partners.

Quantum Circuits’ strategic emphasis on error correction and scalability positions it as an important player in the quantum computing arena, where the race to develop practical and reliable systems is intensifying.

“Quantum Circuits’ work on error correction puts them solidly in the lead in the race to build useful quantum computers,” said Zander Farkas, a managing partner at Hither Creek Ventures. “In a world where companies tout qubit counts while making near-zero progress toward a functional computer, Quantum Circuits’ hardware accomplishes milestones that the rest of the industry will struggle to achieve within the decade.”

Quantum computing technology has the potential to solve complex problems across many sectors, including finance, pharmaceuticals, and logistics, far faster than classical computers. A robust expansion of this industry is widely predicted. Quantum Circuits faces strong competition from larger companies like IBM Quantum, Google Quantum AI, Rigetti Computing, D-Wave Systems, and IonQ, each exploring different quantum computing technologies. However, Quantum Circuits’ focus on error detection and correction may provide a competitive edge in developing commercially viable quantum systems.

“From the beginning, Quantum Circuits has delivered unique innovation that positions it for the long run,” said Bill Coughran, a partner at Sequoia Capital. “Creating the more powerful dual-rail qubit with built-in error detection is a significant achievement in the quantum space. They are setting themselves apart from the rest of the vendor landscape.”

“Quantum Circuits’ dual-rail qubit architecture solves the most pressing problem in quantum computing – error detection and correction,” said Corey Ritter, a principal at ARCH Venture Partners. “We are excited to see Quantum Circuits scale their world-leading architecture and chart the clearest path to realizing the promise of quantum computing.”

Chicago-based ARCH Venture Partners invests in early-stage investments in life sciences, physical sciences, and technology companies.

F-Prime Capital is headquartered in Cambridge, Massachusetts, and invests in the healthcare and technology sectors. The firm is affiliated with Fidelity Investments and supports companies from seed to growth stages.

Sequoia Capital, based in Menlo Park, California, invests in technology and healthcare focused companies at various stages of development.