The quantum startup community is constantly growing. With more than three-quarters of 2024 past, some startups are approaching or have reached major milestones in their development. We explore five notable companies to keep an eye on going into early 2025.
Horizon Computing
Horizon Quantum Computing was first established in 2018. The startup focuses on quantum algorithms, compilation, programming, and software as a service. Horizon Computing seeks to develop programming tools. These tools will allow software developers to work on quantum computers at a high level, without needing to jump through the hoops of focusing on quantum mechanics or hardware.
Earlier this year, Horizon Computing announced its intentions to build a first-of-its-kind testbed for integrating quantum hardware into software. The testbed will be able to host multiple quantum computers, with the integration system expected to be installed by early 2025. As such, the anticipation around this testbed is exciting and could pose an interesting foundation on which future research and development occurs between quantum hardware and software engineers.
Classiq Technologies
Classiq Technologies is another quantum startup. They focus on broadening the horizons quantum computing may reach. To do so, they build a library of pre-defined quantum algorithms, applicable in fields from materials science to cryptography.
The company is one of several to have invested in mentoring the next generation of quantum computing specialists. Recently, the Quantum Open Source Foundation (QOSF) used some of Classiq’s IDE in their projects, providing case studies for the company’s software. For instance, mentees in the QOSF program developed a financial portfolio rebalancing program using the quantum approximate optimization algorithm (QAOA) implemented on Classiq’s IDE. This demonstration, among others, illustrates the effectiveness of their end-product, suggesting an outlook worth keeping an eye on going forwards.
ISARA
Quantum encryption remains one of the most closely-watched areas of quantum computing. With the release of quantum-safe standards by the National Institute of Standards and Technology in August of this year comes a pivotal point in the timeline of quantum cryptographic development. The company focuses on quantum cryptography-safe assessments and analytics, evaluating companies and preparing them for a post-quantum cryptographic future.
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The Growing Role of Government in Quantum Technology
Quantum Brilliance
Quantum Brilliance specializes in development of quantum computing hardware and quantum accelerators. On September 18th, Quantum Brilliance announced that they – along with quantum architecture company ParityQC – were jointly awarded a contract by a German agency. Under the contract, Quantum Brilliance and Parity QC will partner to develop the world’s first mobile quantum computer – a device with applications especially relevant in defense and security – by 2027.
This mobile computer could accelerate the development of quantum computing towards commercialization. For companies looking to harness quantum computing for their services and products, this could factor into future investments.
Riverlane
Riverlane released their quantum roadmap, illustrating their intended goals for error correction and quantum development for the next couple of years. The roadmap projects an exponential increase in the number of quantum operations their product is capable of handling – with a transition from focusing on high fidelity memory to perpetual operations and more complex logic between 2024 and 2025. The roadmap outlines highly anticipated developments – especially in the context of noisy near-term quantum computers.
Concluding Remarks
Each company represents different areas at the forefront of quantum development that are worth keeping an eye on. Of course, they are only a handful of many startups seeking to break into the quantum computing field, making the future of the industry all the more exciting.
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