73 Quantum Computing Startups Challenging Industry Leaders

Quantum computing has an active and growing startup scene and is a field that may revolutionize the way we solve complex problems in fields like finance, materials science, cryptography, and drug discovery.

How Many Quantum Computing Startups Are There?

According to our Quantum Intelligence Platform, there are approximately one thousand companies involved in quantum technology either directly or across one segment of the supply chain. These can range from companies offering full-stack solutions, hardware products, software specialists to even suppliers of cables, cryogenic units, and advisory services.

As it is difficult to mention every company we have data on involved in quantum technology globally, we will shortly mention seventy-two companies that stand out (that are not large corporations) that began life as “startups” and are challenging industry leaders.

However, before we get into it, a little bit about what quantum computing is will help the narrative.

What is Quantum Computing?

The use of quantum computing is expected to provide different solutions to computational challenges in the healthcare, cybersecurity and financial sectors. Unfortunately, quantum computing’s capabilities and differences from classical computers are still — in the main — poorly understood.

With quantum computers, tasks like artificial intelligence, machine learning (ML) and cryptography that conventional computers are unable or find hard to handle can be accomplished using specialized hardware and software.

They are able to do this because quantum computers exploit quantum mechanical phenomena by using specialized hardware to leverage the particle and wave properties of physical matter at small scales.

With this, quantum computing companies are developing technologies to make this cutting-edge technology more accessible and useful. What The Quantum Insider can tell you is that quantum computing is booming with new innovations — both in industry and in research — being created every day.

So, let’s take a look at the rise in quantum computing startups over the last decade or so.

Just as a reminder, the list has been organized in alphabetical order and is non-exhaustive. If you would like an exhaustive, structured and filterable database with full company and technical details, see here.

73 Quantum Computing Startups

1.  1QBit

The aim of 1QBit is to develop general-purpose algorithms for quantum computing hardware. This startup, as the business has evolved, has increasingly focused on providing enabling software across the stack rather than just NISQ-era applications.

It has spun off Synthesise Health (a provider of medical technology solutions and an operator of distributed radiology, medical imaging, and laboratory clinics) and Good Chemistry (a company focusing on quantum computing for computational chemistry) as an incubation unit for other quantum technology companies.

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2. Agnostiq

Agnostiq develops software tools that enable businesses and developers to access quantum and high-performance computing resources.

Besides its algorithmic research, Agnostiq develops Covalent, a workflow orchestration platform for managing and executing tasks on heterogeneous computing platforms.

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3. Alice & Bob

A French startup working on developing a quantum computer that is fault-tolerant and error-corrected, Alice & Bob specializes in the development of self-correcting superconducting quantum bits, or cat qubits.

The qubits created by Alice & Bob are resistant to bit-flip errors, which are caused by external factors such as noise or interference changing their state unintentionally.

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4. Alpine Quantum Technologies

Alpine Quantum Technologies (AQT) is an innovative startup that builds a full quantum computer using trapped ions.

The AQT ion-trap technologies appear to be highly effective for matter simulations, factoring, and quantum chemistry simulations, as well as providing a clear roadmap to large-scale quantum computers. From photonic networks connecting quantum computers to large-scale ion-trap processors, AQT ion-trap technology offers a possible pathway to large-scale quantum computers.

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5. Atlantic Quantum

In comparison to conventional approaches, Atlantic Quantum reports it can improve coherence times by an order of magnitude using noise-protected qubits (superconducting modality).

Combined with extensible control schemes, this enables quantum processors to be scaled up to the size required for real-world applications. Atlantic Quantum’s control electronics are designed for high quantum gate accuracies with scalable control systems.

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6. Atom Computing

Atom Computing startup company builds scalable quantum computers by using individual atoms using neutral atom technology.

Using individually controlled atoms that can be controlled without wires, its quantum computers are trying to produce truly scalable quantum computation, providing an array of highly stable qubits that can be used for building quantum circuits with readily available quantum software development tools.

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7. Arqit

As a provider of SaaS quantum encryption solutions, Arqit focuses on symmetric keys at scale. With its QuantumCloud, a cloud-delivered Symmetric Key Agreement Platform as a Service.

As a result, this quantum software-as-a-service company startup says we can move away from a complex Public Key Infrastructure (PKI) and rely on third parties for an encryption platform built for the cloud.

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8. Bleximo

Bleximo’s mission is to build full-stack, superconducting, application-specific quantum computers by co-designing algorithms and hardware with its partners.

In conjunction with conventional powerful computers, this quantum tech startup’s superconducting qubit-based quantum accelerators (qASIC) will be able to solve problems that are very difficult to solve with conventional digital computers alone.

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9. BosonQ Psi

BosonQ Psi is a SaaS-based enterprise software startup company that is accelerating multiphysics and computer-aided engineering simulations using quantum computing.

As the company’s first quantum-powered cloud simulation software, BQPhy is equipped with CAE solvers developed from the ground up by domain experts that can possibly provide a quantum advantage to enterprise customers.

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10. Classiq

Classiq simplifies quantum software development and enables the creation of world-changing quantum algorithms and applications. The Classiq platform allows customers to create sophisticated circuits on the platform and seamlessly execute them on AWS Amazon Braket, Microsoft Azure Quantum and IBM in a customer-centric process so that quantum algorithms can be experimented with faster.

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11. Crypto Quantique

Using quantum tunneling, Crypto Quantique has developed a chip that generates random cryptographic keys. The quantum computing startup uses this technology in conjunction with its cryptographic APIs and key management system to provide an end-to-end security platform for the Internet of Things (IoT).

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12. Delft Circuits

Delft Circuits is a solution provider for quantum hardware whose cryogenic I/O solution with ultra-low thermal conductance Cri/oFlex® is scalable and uses superconductive circuits on flexible substrates.

As well as designing and fabricating superconducting quantum circuits, they also manufacture cryogenic instruments.

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13. Diraq

Diraq is a spinoff startup company from the University of New South Wales (UNSW) in Sydney, Australia that plans to become a full-stack, cloud-based provider of quantum hardware and software.

Utilizing silicon quantum dot technology, possibly billions of qubits will be available on a single chip, far exceeding the hundreds of qubits that are currently available.

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14. EeroQ

EeroQ believes to compete with more conventional qubit technologies, it is developing its own quantum chip. In order to achieve this, the company has developed an electrons-on-helium technology which is unique in the industry.

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15. ELEQtron

ELEQtron builds and operates quantum computers using trapped ions, RF control, and magnetic gradient-induced couplings (MAGIC) and the company’s intermediate-scale quantum processors will be designed for industrially relevant quantum applications in the near future.

Furthermore, ELEQron’s RF-controlled trapped ions will be used to implement concepts for scalable quantum processors.

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16. evolutionQ

In addition to quantum security assessments, roadmap design and implementation, quantum-safe hardware and software, and education services, evolutionQ offers a broader suite of proprietary products and services.

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17. First Quantum

First Quantum provides quantum Karnaugh map-based optimization protocols and intellectual properties for its customers’ core quantum computing applications that specialize in numerical weather and climate prediction, astrophysics, and the Navier-Stokes nonlinear partial differential equations governing computational fluid dynamics.

In addition, the quantum computing startup company is also investigating quantum algorithms for solving financial engineering problems such as portfolio optimization and derivative pricing.

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18. Good Chemistry

Good Chemistry is a spinoff startup from 1QBit’s quantum simulation division and is building a cloud-native, AI-driven, quantum-computing compatible platform that enables high-throughput, high-accuracy computational chemistry simulations.

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19. Horizon Quantum Computing

Horizon Quantum Computing is innovating an approach to quantum programming that allows programs written in a unified language to be compiled and run on either conventional or quantum computers — this process is used to construct quantum algorithms automatically based on classical programs.

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20. HQS Quantum Simulations

HQS Quantum Simulations (formerly Heisenberg Quantum Simulations) develops quantum algorithms to predict molecular properties.

Moreover, CirqProjectQ, a port between ProjectQ and Cirq, was developed by the team that as a backend can convert a ProjectQ algorithm into native Xmon gates, which can be used to simulate a Google quantum computer using ProjectQ.

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21. ID Quantique

ID Quantique, despite being a quantum startup, offers its clients and partners a comprehensive range of Quantum Key Distribution (QKD) solutions, as well as distribution services and solutions for the financial industry, enterprises, and government organizations around the world.

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22. InfinityQ

In order to achieve greater security and speed, InfinityQ plans to design dedicated quantum hardware and bespoke applications that will be smaller, more compact, more efficient, robust, and more accurate than existing systems. To get there, it is developing a room-temperature quantum CMOS chip by exploiting quantum effects at room temperature, utilizing a new approach to quantum mechanics and electronics.

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23. Infleqtion

Besides selling laser-cooled and ultra-cold atom quantum technologies, Infleqtion (formerly ColdQuanta) develops and designs instruments, components, and systems that are used in quantum science and industry, including cold atom experiments, quantum simulation, quantum information processing, atomic clocks, and inertial sensing.

Using neutral atoms, this quantum startup company has also developed a cloud-based quantum computer called Hilbert with 100 qubits, operating at room temperature and promising superior error correction, high qubit connectivity, long coherence times, and high gate fidelity.

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24. IQM

Based on superconducting qubits, IQM is developing scalable hardware for universal general-purpose quantum computers.

An Aalto University spinoff founded as part of the Quantum Computing and Devices research group, IQM is working on Finland’s first commercial 54-qubit quantum computer with VTT, and an IQM-led consortium (Q-Exa), and Q-Exa is building Germany’s quantum computer for integration into HPC supercomputers so that future research can be accelerated.

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25. KETS Quantum Security

KETS Quantum Security is developing a range of technologies for quantum-secured communications, including quantum key distribution and quantum random number generation. Based on integrated photonic technologies, its devices are miniaturized, cost-effectively manufactured, and have complex functionality.

Additionally, the quantum startup is a provider of consulting services and joint development services to SMEs and global corporations.

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26. Kiutra

By using magnetic refrigeration, Kiutra — a Technical University of Munich (TUM) spinoff startup —  develops fully-automatic solutions for generating cryogenic temperatures in the Kelvin and sub-Kelvin regimes. In contrast to other technologies, their approach does not rely on Helium-3.

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27. Multiverse Computing

Multiverse Computing is a quantum computing software startup that provides solutions for more than ten verticals, including finance, manufacturing and aerospace. Its team possesses expertise in portfolio optimization problems, risk analysis and market simulation.

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28. Nord Quantique

Nord Quantique develops superconducting circuits that can mitigate errors on every individual qubit. The company aims to provide a faster pathway to fault-tolerant quantum computing. As part of its mission, the company aims to solve the problems associated with current quantum processors and to deploy quantum computer applications to their full potential.

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29. Nordic Quantum Computing Group (NQCG)

A company that goes all the way back to 2000, NQCG develops quantum software that is platform agnostic and based on superconducting qubits and photonic quantum computing.

For financial services and industrial technology, their R&D team focuses primarily on developing hybrid quantum-classical algorithms and full quantum applications. This project focuses on achieving a quantum advantage in the three important areas of simulation, optimization and artificial intelligence. Additionally, the team is manufacturing chips designed to optimize quantum algorithms’ performance.

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30. ORCA Computing

Through the use of photonic technology, ORCA Computing is developing scalable and flexible quantum computing systems. ORCA’s proprietary quantum memory technology gives the startup company the ability to store and synchronize quantum operations more efficiently.

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31. Oxford Ionics

Electronic Qubit Control (EQC) is a proprietary, patented system used by Oxford Ionics’ trapped-ion processors. As a result, this company is able to combine the quantum performance of individual atoms with the scalability and reliability of silicon-based electronics.

Oxford Ionics is a spinoff startup company from the University of Oxford’s Department of Physics.

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32. Oxford Quantum Circuits (OQC)

By forming qubits through superconducting circuits, Clarendon Laboratory Oxford Professor Peter Leek founded Oxford Quantum Circuits which is building a quantum computer that is a complete system consisting of a control system, hardware, and software components.

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33. ParityQC

ParityQC is a spinoff startup company from the University of Innsbruck that develops blueprints for quantum computers in order to solve optimization problems.

Through the architecture, quantum computers are made scalable by reducing the control complexity to a large extent, thereby introducing a shift in how optimization problems are encoded.

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34. Pasqal

With IP derived from research at the Institut d’Optique’s Laboratoire Charles Fabry on Quantum Optics — Atoms group that uses atomic arrays of neutral atoms, Pasqal is building a programmable quantum simulator enabled by Nobel Prize-winning technology and a full stack approach.

Another thing to mention is that Qu&Co, a provider of quantum computational algorithms and software that enables its corporate clients to solve valuable problems in the fields of chemistry, materials science, fluid dynamics and computational finance quickly and accurately, merged with Pasqal to integrate its large portfolio of quantum algorithms with Pasqal’s advanced quantum hardware in early 2022.

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35. Photonic Inc.

A spinoff startup of Simon Fraser University’s Silicon Development Lab, Photonic Inc. develops quantum hardware based on photonic and spin qubit technologies and specializes in spin/photon interfaces in silicon, silicon-integrated photonics and quantum optics.

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36. PQShield

Using high-performance post-quantum cryptography algorithms, PQShield develops potential real-world solutions that are a spinoff of the Mathematical Institute at the University of Oxford.

An important thing to note is that the company’s researchers and advisory board contributed to all of the first international PQC NIST standards announced in July 2022.

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37. ProteinQure

By combining quantum computing, molecular simulations and reinforcement learning, startup company ProteinQure is able to develop novel therapeutics and uses computational tools to conduct in silico drug design.

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38. PsiQuantum

PsiQuantum aims to provide a one million physical qubit quantum computer with error correction by the middle of this decade by using a photonic approach, building a large-scale, error-corrected, general-purpose quantum computer.

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39. Q-CTRL

Q-CTRL is designing an infrastructure/firmware framework to address error control in quantum computers. This startup company’s first software product, Black Opal, reduces decoherence and errors at the physical layer using a hardware-agnostic control software program.

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40. QC Ware

QC Ware develops enterprise software that is hardware agnostic. The quantum startup company provides its services via a cloud-based platform that is compatible with a variety of quality control architectures.

QCWare offers plug-and-play function libraries that support optimization, machine learning, and quantum simulation in their software stack.

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41. Qruise

In addition to optimizing algorithms, simulators and machine learning tools, Qruise offers a wide range of software components designed to accelerate the development of quantum technology and improve its application.

Qruise has developed its first products to address the growing pains of controlling the current generation of noisy quantum computers (NISQ devices) and to improve operational reliability through the use of Machine Learning and Quantum Optimal Control.

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42. QSimulate

QSimulate develops cloud-based tools for quantum molecular simulations. With a cloud-based simulation platform, the startup company helps companies accelerate their computational research and development in the chemical and pharmaceutical industries.

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43. Quandela

In quantum optics applications, Quandela develops and commercializes high-performance, compact devices, utilizing semiconductor-based photonic qubit generators (deterministic single-photon sources) to scale up optical quantum computing protocols with a large number of photons.

In addition, a toolkit for coding and simulating photonic quantum computers has been developed by the company.

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44. QuantFi

QuantFi develops quantum computer algorithms for the financial sector. With the creation of “quantum-inspired” simulators and algorithms, this startup creates intellectual property in quantum computing that can potentially tackle quantum problems.

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45. Quantistry

Powered by quantum simulations and artificial intelligence, Quantistry develops chemical simulations. It offers cloud-based chemical simulation software with an intuitive user interface and a high level of security.

Among the algorithms are density functional theory (DFT), post-Hartree-Fock, classical force fields, and machine learning prediction models.

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46. Quantum Base

Quantum Base creates quantum security solutions and devices at the nanoscale that can be mass-produced.

Its products include optical and electronic PUFs (Physically Unclonable Functions) that are used as security tags and quantum signatures. Furthermore, they offer a nanoscale quantum random number generator (Q-RAND) that can be integrated into existing as well as new microelectronic systems.

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47. Quantum Brilliance

A spinoff startup from the Australian National University’s diamond quantum program, Quantum Brilliance is developing a quantum computing platform based on atomic-scale defects in diamond (nitrogen-vacancy centers) which can run at room temperature.

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48. Quantum Circuits

Quantum Circuit’s long-term goal is to create, manufacture and sell the world’s first practical and useful quantum computer based on superconducting devices while also accelerating quantum computing research by commercializing components, devices and software.

It was founded as a startup by three scientists from Yale University’s Department of Applied Physics with expertise in quantum devices and quantum information processing.

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49. Quantum Dice

Founded at the University of Oxford, Quantum Dice is developing a self-certified random number generator (QRNG) which generates unbiased, truly random numbers.

With the QRNG, users will be able to generate cryptographically secure random numbers for use in several commercial applications.

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50. Quantum Machines

Three physicists from Israel’s Weizmann Institute of Science founded the startup company Quantum Machines to develop operation and control systems for quantum computers — hardware and software that can exploit the power of quantum computers.

Its technology combines digital signal processing, algorithms, FPGA, chip design, RF/microwave engineering, programming, optimization, machine learning, and quantum physics.

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51. Quantum Motion

Research conducted by Professor Simon Benjamin (Department of Materials, Oxford) and Professor John Morton (Department of Engineering Science, Oxford) led to the establishment of the startup named Quantum Motion Technologies.

Through CMOS processing, the company hopes to achieve high-density qubits to tackle practical quantum computing problems and scale up to large numbers.

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52. Quantum-South

Using quantum computing software, Quantum-South tries to solve complex optimization problems for cargo. Leveraging these technologies, companies can improve revenues and reduce costs more effectively than with current conventional solutions.

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53. Quantware

In addition to offering superconducting quantum processing units (QPU) chips, Quantware also assists customers with the development of quantum computers.

A spinoff startup from QuTech in Delft, The Netherlands, Quantware’s first products are Soprano, a five-qubit chip with 99.9% gate reliability, and Cresendo, a travelling wave parametric amplifier (TWPA) that introduces the least amount of noise possible.

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54. Qubit Engineering

In order to improve the micro-siting of wind turbines, Qubit Engineering has developed new quantum software computing methods. It aims to make wind farms more efficient.

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55. Qubit Pharmaceuticals

Qubit Pharmaceuticals is developing a software simulation platform called ATLAS that will move from approximation to prediction in the way drugs are developed. With the platform, the absolute free binding energies of molecules can be calculated with good accuracy.

Qubit Pharmaceuticals is a spinoff startup of CNAM, CNRS, the University of Texas at Austin, Sorbonne University, and Washington University.

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56. QuEra Computing

The startup company consisting of the members of the research team from Harvard University’s cold atom research group, QuEra Computing, is building a scalable and commercially relevant quantum computing system using neutral atom technology.

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57. Quintessence Labs

Quintessence Labs offers quantum random number generators and quantum key distribution solutions and is developing the second generation of a quantum key distribution system.

In this system, key distribution is done with a continuous variable bright laser beam that utilizes commercial off-the-shelf telecommunications components and existing fiber optic cable to provide a very high data throughput rate at a very low cost.

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58. QuiX

QuiX is developing a silicon nitride waveguide-based photonic quantum processor. The quantum computing startup plans to offer in the future its first components, running at room temperature without the need for costly dilution refrigerators.

Among the founding team members are scientists from the University of Twente and AMOLF in Amsterdam.

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59. QunaSys

With a focus on quantum chemistry, quantum machine learning and optimization, QunaSys develops applications utilizing quantum computing while also maintaining and adding new features to the Qulacs simulator, which was developed by Kyoto University.

The startup company was founded by researchers from the Universities of Tokyo, Osaka, and Kyoto.

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60. QuNu Labs

As a provider of quantum cyber-security products, QuNu Labs makes use of Quantum Key Distribution (QKD) technology. Based on four years of initial research followed by six months of incubation at the Indian Institute of Technology Madras, their first product is a basic QKD system that uses Differential Phase Shift Protocol.

61. Riverlane

Riverlane is developing hardware and software tools for controlling inherently unstable qubits and correcting system errors at a rate of ten billion times or more per second.

The innovative startup company is also leading a consortium building Deltaflow.OS, a quantum-friendly operating system.

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62. SCALINQ

A quantum computing startup company based on research from the Chalmers University of Technology, SCALINQ develops enabling hardware for superconducting quantum computers by offering multi-qubit packaging solutions that make it easier to realize larger quantum processors.

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63. SEEQC

As a provider of superconducting device foundry services, SEEQC operates, upgrades and owns a facility for the fabrication of multilayer superconductive chips and is a spinoff from Hypres, a leading superconductor electronics developer.

As part of its research, SEEQC is also developing a new approach to making quantum computing useful, referred to as fully digital quantum computing. Using a system-on-a-chip design, the solution combines classical and quantum computing to form an all-digital architecture, which utilizes superconductive classical co-processing at speeds between 10–40 GHz to address the efficiency, stability, and cost issues associated with quantum computing systems.

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64. Single Quantum

Based on superconducting nanowire technology, Single Quantum develops and manufactures single photon detection systems. These products are intended for applications such as quantum information technology, quantum communication, quantum cryptography, infrared time-resolved spectroscopy, and laser ranging and remote sensing (LiDAR).

Single Quantum was founded in Delft, the Netherlands, as a spinoff startup of the Kavli Institute of Nanoscience.

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65. Silicon Quantum Computing

As a spinoff startup from the University of New South Wales (UNSW), Silicon Quantum Computing is helping to advance the development and commercialization of quantum computing technology from the university’s Centre of Excellence for Quantum Computation and Communication Technology (CQC2T).

Some of the goals of the company are to build an atomic-scale integrated circuit, deliver a programmable device based on a one hundred (100) qubit quantum processor embodying error correction by 2028 and enable access to useful Quantum Computing solutions for a broad audience of users across multiple use cases by 2033.

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66. Sparrow Quantum

Sparrow Quantum is a spinoff startup company from the Quantum Photonics Lab at the Niels Bohr Institute in Copenhagen that is using the Institute’s research and patents to develop and commercialize photonic quantum technology components.

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67. Strangeworks

Strangeworks is a quantum computing software startup. Through its software, Strangeworks aims to make quantum computing accessible to developers, system managers and CIOs.

Moreover, Strangeworks maintains the Strangeworks Community Platform, a place that provides access to five different quantum frameworks from IBM, Microsoft, Rigetti, Google, and D-Wave.

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68. Terra Quantum

Terra Quantum is a quantum technology startup company that provides “Quantum as a Service (QaaS)“ in three core areas, the first one being “Quantum Algorithms as a Service”. Here, customers are provided access to an extensive library of algorithms, such as hybrid quantum optimization and hybrid quantum neural networks, which can be used for solving complex logistics problems or pattern recognition, among other things. Terra Quantum also develops new quantum algorithms for its customers or adapts existing algorithms to their specific needs.

Secondly, through “Quantum Computing as a Service”, Terra Quantum offers its customers access to its proprietary simulated quantum processing units (QPU), the quantum ecosystem’s physical QPUs, while also developing native QPUs.

The third division is “Quantum Security as a Service,” through which Terra Quantum offers its solutions for secure quantum and post-quantum communications worldwide.

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69. Turing

Turing is developing the XGR-1, the first generation of Turing’s groundbreaking quantum memory, to form the basis of its portable Quantum Hard Drives, or Turing QuBEs. By providing a network of quantum entanglement with a better level of flexibility and scalability, Turing aims to go beyond QKD for global secure communications.

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70. Universal Quantum

A startup spinoff from the Ion Quantum Technology Group at the University of Sussex, Universal Quantum is led by Professor Winfried Hensinger. It is pursuing the development of practical quantum computers using microwave-trapped ions that leverage long-wavelength radiation and locally applied magnetic fields in place of the large quantities of individually controlled laser beams used in other ion trap implementations.

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71. WelinQ

By interconnecting quantum processors, WelinQ aims to scale up quantum computing. In order to interconnect multiple Quantum Processing Units (QPU), the company provides a Quantum Memory based on cold atoms to deploy quantum links no matter the distance.

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72. Xanadu

A full-stack quantum startup, Xanadu is developing a photonic quantum processor and an open-source full-stack quantum software platform, Strawberry Fields.

The Strawberry Fields application is written in Python and incorporates Blackbird, a quantum programming language.

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73. Zapata Computing

A group of Harvard scientists, led by Alán Aspuru-Guzik, founded Zapata Computing, a quantum computing software startup company.

Orquestra, Zapata’s quantum-enabled workflow platform, orchestrates workflows across classical and quantum technologies using quantum-enabled workflows and offers a software platform for machine learning, optimization, simulation, and quantum algorithms.

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What Can We Expect From Future Quantum Startups?

The quantum startup landscape has experienced a slowdown in company formation during 2022 and 2023, signaling a shift toward consolidation and maturity in the market. This period has witnessed the emergence of the first mergers in the quantum sector, as startups strive to establish their commercial relevance and secure a competitive edge in this rapidly evolving field.

In the realm of quantum hardware, a diverse range of qubit modalities is being explored, with startups aiming to surpass the critical milestone of securing Series A funding. This influx of capital will enable them to further develop their technologies and bring them closer to commercial viability. As the hardware landscape matures, we can expect to see more robust and scalable quantum systems emerge, paving the way for broader adoption across various industries.

Meanwhile, the quantum software sector is poised for significant innovation, both in the development of specific algorithms tailored to quantum computing and in the infrastructure software layer that underpins these systems. This dual focus will ensure that quantum software keeps pace with hardware advancements, enabling seamless integration and unlocking the full potential of quantum technology.

With 73 quantum startups already making their mark, the future holds a plethora of exciting developments and breakthroughs in quantum technology. As the landscape continues to evolve and mature, these startups are set to have a transformative impact across a wide range of sectors, driving innovation and shaping the future of computing.

If you found this article to be informative, make sure to explore more of the current quantum technology news here.

Quantum Intelligence Platform

The seventy-two companies mentioned here are only a small fraction of what is happening globally in the quantum tech industry. Want to find out more about the quantum ecosystem? Then look no further than The Quantum Insider’s very own Quantum Intelligence Platform, the leading provider of Quantum Computing market data, reports, analytics, and insights on quantum computing companies, investors, funding, and more.

Based on our proprietary taxonomy and customizable metadata, the platform allows you to find robust funding commercial information that can be filtered by subsector and technology type while being effortlessly integrated into The Quantum Insider’s database of news and information on the Quantum Computing industry.

But that’s not all, recently we added our Data Graph Explorer, a tool that allows those interested to spot interesting relationships and connections in the quantum market and make decisions based on those relationships.

Featured image by Gerd Altmann from Pixabay

If you want to find out what’s new in the Industry, check out our latest quantum news.

Frequently Asked Questions

How many companies are currently involved in quantum technology globally?

According to The Quantum Insider’s Quantum Intelligence Platform, approximately one thousand companies are involved in quantum technology either directly or across one segment of the supply chain. These range from full-stack solution providers and hardware manufacturers to software specialists and suppliers of cables, cryogenic units, and advisory services.

Which quantum startups are working on fault-tolerant quantum computing?

Several startups are specifically targeting fault tolerance, including Alice & Bob, which develops self-correcting superconducting cat qubits resistant to bit-flip errors, and Nord Quantique, which develops superconducting circuits that mitigate errors on every individual qubit. Riverlane is also developing hardware and software tools for correcting system errors at a rate of ten billion times or more per second.

Which quantum startups are focused on quantum security and cryptography?

Multiple startups address quantum security, including ID Quantique for quantum key distribution, KETS Quantum Security for quantum-secured communications, PQShield for post-quantum cryptography algorithms, and Crypto Quantique for IoT security using quantum tunneling-based cryptographic keys. Arqit provides cloud-delivered symmetric key encryption, while Quintessence Labs offers quantum random number generators and QKD solutions.

What quantum computing approaches are room-temperature startups pursuing?

Several startups are developing quantum systems that operate without extreme cooling. Quantum Brilliance uses nitrogen-vacancy centers in diamond to run at room temperature, InfinityQ is developing a room-temperature quantum CMOS chip, and QuiX is building a photonic quantum processor using silicon nitride waveguides that also runs at room temperature without costly dilution refrigerators.

Which quantum startups originated as university spinoffs?

Many leading quantum startups trace their origins to university research groups. Notable examples include Diraq and Silicon Quantum Computing from UNSW, Oxford Ionics and PQShield from Oxford, Quantum Circuits from Yale, ParityQC from the University of Innsbruck, SCALINQ from Chalmers University, and Sparrow Quantum from the Niels Bohr Institute.

Which startups are applying quantum computing specifically to drug discovery and pharmaceutical research?

ProteinQure combines quantum computing, molecular simulations, and reinforcement learning to develop novel therapeutics through in silico drug design. Qubit Pharmaceuticals is developing the ATLAS simulation platform to calculate absolute free binding energies of molecules with high accuracy, while QSimulate offers cloud-based quantum molecular simulation tools for the chemical and pharmaceutical industries.

What is the state of the quantum startup landscape in terms of company formation and consolidation?

The quantum startup landscape experienced a slowdown in company formation during 2022 and 2023, signaling a shift toward consolidation and market maturity. This period also witnessed the emergence of the first mergers in the quantum sector as startups work to establish commercial relevance and secure competitive advantages.

Which startups are focused on quantum computing for financial applications?

QuantFi develops quantum algorithms and quantum-inspired simulators specifically for the financial sector. Multiverse Computing provides solutions across more than ten verticals with particular expertise in portfolio optimization, risk analysis, and market simulation, while Nordic Quantum Computing Group focuses on hybrid quantum-classical algorithms for financial services.

What are startups doing to make quantum computing more accessible to developers?

Strangeworks maintains a community platform giving developers access to five different quantum frameworks from IBM, Microsoft, Rigetti, Google, and D-Wave. Classiq simplifies quantum software development and allows customers to create circuits executable across multiple major cloud quantum platforms, while Horizon Quantum Computing is developing a unified programming language that compiles and runs on both classical and quantum computers.

Which quantum startups are targeting optimization problems in logistics and industry?

Quantum-South uses quantum computing software to solve complex cargo optimization problems, helping companies improve revenues and reduce costs. ParityQC develops quantum computer blueprints specifically for optimization problems, while Qubit Engineering has developed quantum software methods to improve wind turbine micro-siting and make wind farms more efficient.