For founders pursuing commercial opportunities predicated on translational science and innovations in quantum technologies.
PlanQC is building a neutral atom quantum computer (QC) using strontium atoms. Classical computers struggle with many highly-intensive calculations and have certain problem types they cannot solve, while other QC architectures struggle with scaling qubit count, limiting their ability to perform useful calculations. PlanQC is building a quantum computer that will be more scalable than other architectures while having lower error rates than other neutral atom QCs due to their choice of atom and qubit structure.
C12 Quantum Electronics builds carbon nanotube-based quantum computers (QCs) for energy utility companies who need to solve complex optimization problems quickly and accurately. Complex optimization problems are difficult to solve with classical computers quickly and today’s available QCs have trade-offs between accuracy and speed. C12 Quantum Electronics’ product will have longer qubit lifetimes, lower error rates, and faster gate operation times that will enable users to solve optimization problems more quickly and accurately with fewer qubits.
ForeQast is building a platform to deploy AI and quantum algorithms to provide optimization in the logistics industry. Optimization in this industry for problems such as last-mile delivery is complex and computationally intensive. ForeQast uses quantum computational methods, including hybrid variational algorithms and annealing to improve the efficiency of logistics planning.
Pixel Photonics builds single-photon detection hardware for microscopy companies that need to perform dynamic imaging, and has a long-term vision of serving the quantum computing market. Dynamic imaging processes are limited by speed and resolution whereas, for many quantum computers, the detection of light particles at the single-photon level is necessary. The technology enables multiple detectors to work on a single chip with minimal errors leading to a highly-scalable, efficient, and fast-detection solution resulting in higher data flow and quality for the customer.
QC82 builds light-based quantum computing hardware for industrial and academic research groups who need to solve large-scale data problems. Current classical computers struggle with complex simulation problems in materials design, while quantum computers (QCs) still only have limited resources that can be leveraged. QC82’s product contains a scalable, room-temperature approach that will enable more processing power for the user with less hardware development costs and time than competitors.
QphoX is developing hardware that acts as a remote entangling link between separate quantum processors (QP). Quantum computing (QC) companies are struggling to scale the number of qubits they can effectively implement on a single processor, and it is largely believed that these links are required to scale QC architectures. In the short term, QphoX’s products, such as their power meter, will help QCs become more powerful. In the long term, their quantum modem will allow QPs to be connected, allowing for more powerful distributed computation and enabling the quantum internet.
Quantum Oracles provides a software platform to allow investment banks to accurately quantify the opportunity cost of pursuing quantum solutions in comparison to classical alternatives. The venture automates the time-consuming and complex process of benchmarking quantum solutions that even top experts in the field struggle to find. As opposed to competitors who use dynamic benchmarking, Quantum Oracles statically benchmarks quantum algorithms without the requirement of using scarce and expensive quantum hardware. This enables customers to assess the capabilities of future quantum hardware development scenarios and how those capabilities will impact their business processes.
Qubic is developing a microwave-sensing system capable of reducing detection ambiguity of small objects around airports, industrial compounds, and government installations. Remote-controlled drones pose a huge safety and security threat as they are difficult to detect, are frequently confused with birds, and often require visual confirmation. The solution relies on quantum microwave devices to improve the signal-to-noise ratio, enabling a better distinction of signals than classical systems, leading to more accurate classification of small, lowly-reflective targets necessary to improve airspace security.
Qunova Computing builds software for clients in the pharmaceutical discovery industry. Current methods require large amounts of trials to identify a material or drug with the desired property. Using their quantum software solutions, Qunova will allow clients to save large amounts of time in their R&D processes, identifying candidate drugs with the desired properties much faster, ultimately freeing up resources, and reducing costs
ZebraKet provides software to optimize inventory stock level recommendations in the supply chain industry. Maintaining the right inventory level and purchasing schedule is critical to reducing tied-up capital, as companies struggle to meet fluctuating demand resulting in a surplus or shortage of goods. ZebraKet’s solution aims to provide improved results compared to traditional methods, with faster and cheaper implementation compared to competitors using classical machine learning methods.
PlanQC (formerly Bavarya QC) is building a neutral atom quantum computer using Strontium atoms. Classical computers struggle with many highly intensive calculations and have certain problem types they cannot solve, while other quantum computing architectures struggle with scaling qubit count, limiting their ability to perform useful calculations. PlanQC is building a quantum computer that will be more scalable than other architectures while having lower error rates than other neutral atom quantum computers due to their choice of atom and qubit structure.
The company was pre-seed and had not approached any customers when it joined CDL-Toronto’s Quantum stream. “We had a clear plan in mind of what to do on the technical side. But it wasn’t clear to us how to approach investors,” co-founder Sebastian Blatt said.
CDL mentors coached the PlanQC team to keep customers and intellectual property in mind from the very beginning. The program also introduced the team to different options for investment. The traditional route for a European company, like the Germany-based PlanQC, is to raise a small seed round of about €500,000, Blatt said. But that amount of money wouldn’t go very far for his hardware-based venture. “You can pay someone for a year or two, but you can’t even buy the equipment you need.” CDL exposed the team to the investment options in North America and they decided to try a different approach. Instead of seeking out a smaller figure from an angel investor, PlanQC targeted venture capital and is now very close to closing a seed round of about €4.6 million. “That’s what we managed to do with CDL,” Blatt said. “And I think we wouldn’t have been able to pull this off without CDL.” That investment will get the team much closer to finishing its product than a smaller investment would have, and will give them more progress to present to investors for future rounds.
I want to mention a lot of companies just run out and build their website. They need to get their agency and their brand and everything down before they go and incorporate their website because otherwise, they are just going to have to redo it.
Sally Daub • Fellow, CDL-Toronto Apr 26, 2022 @ 3:42 PM ET