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IBM Ventures Invests in Quantum Algorithm Developer QunaSys

laboratory, analysis, chemistry

Insider Brief

  • IBM Ventures invested in QunaSys, according to an announcement.
  • The funds will be used to further develop quantum computing application services and user-friendly software in chemical simulation and material research development.
  • QunaSys has had a longstanding relationship with IBM and is a member of the IBM Quantum Network.

PRESS RELEASE — QunaSys announced  that IBM Ventures has made an investment in the company. The funds will be used to further develop quantum computing application services and user-friendly software in chemical simulation and material research development.

The company did not release information on the size of the investment.

QunaSys has been at the forefront of researching practical applications for quantum computing in chemistry, having published 37 papers and expanded the range of industrial applications for quantum computers. The company has also developed Qamuy, a software as a service tool, that enables access to the power of quantum computers without requiring expertise in quantum algorithms.

As a member of the IBM Quantum Network, QunaSys has had a longstanding relationship with IBM. This has included research collaborations, joint-publication, and beta-testing of the Qiskit Runtime service. The investment from IBM Ventures is an important step to QunaSys as it seeks to expand and strengthen its position in the quantum computing industry.

“We are excited to have IBM Ventures invest in us as we continue to develop algorithms, and services to expand our capabilities in computational chemistry,” said Tennin Yan, CEO of QunaSys. ” The future practical use of quantum computing will require close collaboration of hardware and software. Therefore, this investment will enable us to accelerate our research and development efforts and bring us closer to achieving practical applications of quantum computing.”

QunaSys aims to accelerate the development of algorithms, and services that leverage IBM Quantum technology, and better serve industry and academia striving to be quantum-ready. As a company committed to expanding the quantum ecosystem and driving innovation in the field of computational chemistry, QunaSys is dedicated to creating quantum algorithms for innovative uses in quantum devices and delivering them to researchers and industry leaders. With the investment from IBM Ventures, the company is well-positioned to achieve its objectives and make significant contributions to maximizing the power of quantum computing.

The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

What: GenMat Webinar

Jake Vikoren

Jake Vikoren

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Deep Prasad

Deep Prasad

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Araceli Venegas

Araceli Venegas

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Matt Swayne

With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses. [email protected]

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The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

What: GenMat Webinar

Jake Vikoren

Jake Vikoren

Company Speaker

Deep Prasad

Deep Prasad

Company Speaker

Araceli Venegas

Araceli Venegas

Company Speaker

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