Hottest Quantum Computing Startups to Watch
Every year, new startups pull to the forefront of their industry through exciting innovation and industry-disrupting business models. We’ve rounded up the top quantum computing startups of 2023 that startup-lovers, investors, and aspiring entrepreneurs should follow.
Disclaimer: With so many exciting startups launching and growing worldwide, we aren’t able to cover them all. Furthermore, the startups that are listed below are not officially ranked and are listed in no particular order.
- Location: Palaiseau, France
- Funding: Series B, €127.5M
Pasqal's team of 25 quantum engineers develops quantum processors for the most powerful quantum computers. This quantum computing startup had its roots in one of France's most prestigious research universities, where it was part of a team responsible for groundbreaking research into cold atom physics.
- Location: College Park, Maryland
- Funding: Post-IPO Equity, $432 Million
IonQ says that its mission is to solve some of the most complex problems in existence. Its solution? Building the world's most powerful quantum computing systems. Brands like Amazon, Samsung, Hewlett Packard, and Microsoft have already seen the promise in this startup and contributed to their investments to date.
3. Yimu Market AI
- Location: Hong Kong
- Funding: $700,000
Yimu Market AI is a Hong Kong-based startup that combines artificial intelligence with quantum computing to provide usable pricing and sales data to their customers on an ongoing and real-time basis. The startup is believed to have the capability to analyze 188 million sources of information daily across various territories and countries.
4. Cambridge Quantum Computing (Acquired by Quantinuum)
- Location: Cambridge, United Kingdom
- Funding: Series Unknown, $72.8 Million
Cambridge Quantum Computing has focused itself in four areas: finance, chemistry, material science, and energy, and while this may seem a thin spread for a startup, their technology has significant overlaps in these spaces. In fact, this quantum computing startup prides itself on a platform-agnostic setup, which can run on many different software systems easily. In June 2021, Honeywell Quantum Solutions announced a deal with the startup in which their quantum systems would merge, thus creating one of the world's most powerful quantum computing teams.
- Location: Austin, Texas
- Funding: Series A, $28 Million
Strangeworks has dominated the quantum computing space since it was founded in 2018. With early adopters like Airbnb, Amazon, and Uber using its simple yet powerful data analysis and quantum computing products, it has very quickly grown to include a customer base of more than 100 developers worldwide and 6,800 successfully completed quantum projects.
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6. Polaris Quantum Biotech
- Location: North Carolina, United States
- Funding: Seed, $2.1 Million
Polaris Quantum Biotech is one of the few quantum computing startups venturing into the biotech space. The startup hopes to revolutionize drug manufacturing by combining precision medicine, quantum computing, and artificial intelligence. With these three components, Polaris' technology searches massive online chemical libraries to identify drugs that may be combined to target specific diseases.
7. Rigetti Computing
- Location: Berkeley, California
- Funding: Post-IPO Equity, $298.5 Million
Rigetti Computing has elevated itself above the significantly niche world of quantum computing and established itself as a relatively well-known brand since it was founded in 2013. The startup originally focused on hardware, namely circuitry required to run quantum computers. After its significant success in this area, though, it developed Forest, a platform that brings the writing of quantum algorithms to everyday users.
8. ORCA Computing
- Location: London, United Kingdom
- Funding: Series A, $15 Million
ORCA is the first startup in the world to develop a quantum computing system based on photonics. Photonics is the physical science of light waves. So, essentially, ORCA has built a computer based on the principle of light energy — interested yet? Us too! The system was built based on quantum memories and allows for the synchronization and storage of quantum operations, which, the startup says, leads to significantly improved performance.
9. Quantum Machines
- Location: Tel Aviv, Israel
- Funding: Series B, $153 Million
Quantum Machines is an Israeli startup that seeks to focus on solving one of the biggest problems in the quantum computing space: how do we harmonize the interplay between software and hardware and still maintain maximum performance? The startup believes they have solved this problem by developing their Quantum Orchestration Platform. According to the startup's website, the platform brings together a set of incredible capabilities with never-before-seen levels of flexibility and control, which helps expand the reach and results of experiments and research.
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10. Phaseshift Technologies
- Location: Toronto, Canada
- Funding: Pre-seed, $575,000
Phaseshift Technologies is a Canadian quantum computing space startup designed to make a difference. The company uses quantum technology, computational chemistry, and machine learning to produce new high-performance alloys. Their technology uses quantum computing to predict the properties of a particular alloy mix and its uses within seconds. Phaseshift's technology has helped to provide workable solutions for clients within the aerospace, bio-medical, and nuclear industries.
Recommended: Check out our full list of the top startups to watch!