San Francisco-based startup BlueQubit, which provides managed quantum computing solutions through a Quantum Software-as-a-Service (QSaaS) platform, has raised $10 million in seed funding. The round was led by Nyca Partners, with support from Presto Tech Horizons, as the fund told Vestbee.
- Founded in 2022 by Hayk Tepanyan and Hrant Gharibyan, BlueQubit develops managed quantum computing solutions through its Quantum Software as a Service (QSaaS) platform.
- The platform enables enterprises, defence, and academic institutions to run quantum algorithms on various hardware, including Quantum Processing Units (QPUs) and emulators like NVIDIA, IBM, and Quantinuum.
- BlueQubit's QSaaS platform simplifies the integration of quantum technology into real-world applications, offering tools for industries like finance, pharmaceuticals, and material discovery.
"Our platform is designed to empower researchers and developers alike. We’re not just developing quantum software; we’re creating an ecosystem where quantum hardware, software, and enterprise use cases coalesce," claims Hayk Tepanyan, CTO and co-founder of BlueQubit.
Details of the deal
- The round was led by Nyca Partners, a New York-based venture capital firm that manages $1 billion in assets and has invested in over 100 portfolio startups.
“We have been looking for a team to invest in who are looking to enable financial services firms to hit the ground running once quantum is here. Hrant and Hayk have the background, skills and drive to operationalize something that until recently has mostly been theory, "Partner at Nyca, Tom Brown, commented in a press release.
- The investment also received support from Presto Tech Horizons, a Prague-based venture capital firm that recently launched a €150 million fund. Restive, Chaac Ventures, NKM Capital, and BigStory VC also joined the round.
- BlueQubit will use the funds to enhance its QSaaS platform, develop quantum algorithms, expand its ecosystem, grow its team, and strengthen hardware partnerships.
