Quantum leap as IBM invests in Cambridge trailblazer
A fresh upsurge in quantum computing capability looks nailed on following IBM’s decision to become a strategic investor in Cambridge Quantum Computing (CQC).
While no figures have been released regarding the size of the investment, technology insiders will be just as excited by the prospects for the industry through such a powerful alliance.
The investment comes after years of collaboration between CQC and IBM’s quantum computing team.
New-York headquartered IBM has massive resources and turned over almost $80 billion in 2018. IBM Quantum is an industry-first initiative to build commercial universal quantum systems for business and science applications.
Established in 2014, Cambridge Quantum Computing is a world-leading quantum computing software company with 62 scientists including 37 PhD’s across offices in Cambridge UK, San Francisco, London and Tokyo. The business builds tools for the commercialisation of quantum technologies that will have a profound global impact.
CQC combines expertise in quantum software, specifically a quantum development platform (t|ket⟩TM), enterprise applications in the area of quantum chemistry (EUMEN), quantum machine learning and quantum augmented cybersecurity (IronBridge).
CEO Ilyas Khan said: “At CQC, we are committed to using world-class research to develop the best quantum computing products in the world. We are excited to have IBM as an investor in our company.”
The investment from IBM comes amid a flurry of major developments for CQC over the past 24 months and most recently the opening of the Tokyo office.
Last October CQC appointed former HP and Microsoft executive Robert Youngjohns to its board as a Non-Executive Director based in Silicon Valley. He took temporary charge of Autonomy in Cambridge after HP’s takeover of the business and Mike Lynch’s departure. He sits on the board of a select number of growth companies in the technology sector.
CQC is currently recruiting for an embedded software engineer software engineer (quantum chemistry), software quality assurance specialist, research scientist and software developer in Cambridge.
Anthony Annunziata, IBM Q Network Global Lead, IBM Research, said: “CQC was one of the first startups to join the IBM Q Network in 2018. This investment furthers the collaborative efforts to advance quantum computing and explore practical applications for business and science.”