Nvidia’s CEO, Jensen Huang, may have predicted that “very useful quantum computers” are likely 20 years away, but the company is actively investing and forming partnerships to expand its ventures into quantum technology.
A noteworthy partner in this field is SEEQC, a quantum computing startup that has successfully secured $30 million in funding, co-led by Booz Allen Ventures and the Japanese-European venture capital firm NordicNinja. The funding round also welcomed contributions from new investor SIP Capital, along with several existing backers. “It’s a combination of financial, geographic, and strategic strengthening,” stated SEEQC CEO John Levy regarding the Series A extension.
SEEQC is part of a rising group of startups focused on optimising classical computing methods to efficiently manage quantum processors. This approach is crucial for controlling numerous qubits, the essential units of quantum computing, while ensuring hardware compatibility with data centre and enterprise requirements.
SEEQC, which stands for “scalable, energy-efficient quantum computing” and pronounced as “seek,” believes that simplifying contemporary quantum hardware hinges on developing chips capable of powering all core functions of a quantum computer. This innovation allows for the control of multiple qubits via a single cable, a necessity that SEEQC identifies as vital.
The current prototypes may often appear cumbersome, akin to the early bulky computers from the inception of IT. Levy remarked that Google’s announcement regarding the error correction capabilities of its Willow quantum chip was “fantastic”; however, he noted the extensive cabling involved.
“We must continue to see those announcements, but we also need to assess the systems engineering aspect, addressing cabling challenges, speed, latency, cost, and other fundamental requirements necessary to construct large-scale systems. Without this, scaling enterprise-grade quantum data centres will remain unattainable,” noted Levy.
The rapid progress in AI has highlighted the urgent need for energy-efficient data centres, a potential benefit of quantum computing, which could also lead to breakthroughs in new materials and pharmaceuticals development.
This necessity is underscored by German chemical firm BASF’s recent decision to join the SEEQC-led, UK-supported QuPharma project, aimed at investigating how quantum computing can accelerate drug discovery processes in collaboration with Merck. “These companies recognise that quantum will be integral to their operations,” Levy remarked.
This sentiment also explains why the venture capital arm of Merck, M Ventures, invested in SEEQC in 2020, followed by additional investments from EQT Ventures and LG Technology Ventures, culminating in a total of $22.4 million prior to this recent funding round.
Moreover, SEEQC maintains a partnership with Nvidia, initiated in 2023, with the objective of developing an “all-digital, ultra-low-latency chip-to-chip connection between quantum computers and GPUs,” which, once realised, will be compatible with all quantum computing technologies.
The new funding will facilitate the startup’s efforts to hasten the commercial deployment of its chips and enhance their functionality. Nonetheless, SEEQC has already made significant advancements since its inception in 2019, largely due to its origins as a spinout from the chip manufacturer Hypres, founded by former employees from IBM’s superconducting electronics division.
“We commenced with mature technology, our own chip foundry—we operate a highly specialised chip foundry tailored for our specific chip designs—intellectual property, and a core team that has constructed entire superconducting systems, primarily through U.S. government collaborations,” Levy explained.
Since its inception, the company has expanded its workforce threefold, operating partly from London, UK, and Naples, Italy, where the first version of its chip was developed before the spinout; however, the majority of the team is now based in Elmsford, NY, where expansion of the chip foundry is planned.
In light of the promises offered by quantum technology, there is also an increasing demand for a robust chip supply chain resilient to geopolitical uncertainties, especially those relating to China.
Various companies are tackling this challenge through different strategies, such as photonics, silicon-based chips, and trapped ion qubits. The effectiveness of these approaches remains to be determined, but Levy emphasises the need to consider a comprehensive system architecture beyond qubits. “It is essential to design an overall system architecture that leads us to our objectives, with chips positioned at its core,” he concluded.
