The company said that it will use the funding to scale its team to support the production and development of its new 64 qubit processor ‘Tenor’. The device provides more than twice the number of qubits compared to its previous largest QPU at a 10x lower price point than competing solutions and opens the door to quantum processors with thousands of qubits.
QuantWare is aiming to become the ‘Intel of quantum computing’ by providing easy-to-use, increasingly powerful and affordable quantum processors to organisations. Last year, QuantWare was selected to deliver quantum processing units for Israel’s first fully functional quantum computer.
The company has developed a patented 3D technology that routes the connections vertically, making it possible to scale superconducting quantum processors to thousands of qubits - opening the door to ‘quantum advantage' where quantum computers will overtake the most powerful classical computer.
Tenor is said to mark a significant advance in commercial quantum computing because it is the first device commercially available that features this technology.
Matthijs Rijlaarsdam, CEO of QuantWare, said, “We believe that one of the key ways to supercharge development of the quantum computing sector is to provide the technology to enable companies to significantly scale their solutions at much lower costs. This is what Tenor enables, and with this funding we will be able to ramp up production and continue development of even more powerful processors.”
