5 startups leveraging quantum computing to solve real-world problems
Ever since the first quantum computer was realised in 1988, quantum computing has found many use cases across sectors, owing to its ability to solve large-scale combinatorial problems faster and smoother.
The sector is growing immensely and aims to solve some of the most complex real-world problems, including in sectors such as AI (Artificial Intelligence) and ML (Machine Learning), drug design and development, cybersecurity, and weather forecasting.
According to Quince Market Insights, the global quantum computing market was worth $487.4 million in 2021, and is expected to grow to $3.7 billion by 2030, growing at a CAGR (Compound Annual Growth Rate) of 25.40 percent.
Various giant companies like IBM, Google, Intel, and Microsoft, among others, have invested heavily to build the next generation of technology. In 2019, Google announced that it had achieved quantum supremacy, outperforming classical computers.
Here are some startups providing solutions using quantum computing in various sectors such as manufacturing, pharma, finance, and transportation.
Bengaluru-based, founded by Sunil Gupta, Srinivasa Rao Aluri, Dr Anil Prabhakar, and Mark Mathias, offers data security products and solutions.
The startup claims that rather than using classical methods for encrypting keys, it instead uses quantum physics principles.
It employs a dedicated channel to transmit a secure private key that is used to decrypt data. The data is shared on a traditional network where secure keys are provided over a channel powered by quantum physics.
QNu Labs’s portfolio comprises solutions such as Armos, a key distributor; Hodos, a secure platform for key management; and Tropos, a random number generator. It targets industries like IT infrastructure, OEMs (original equipment manufacturer), telecommunications, banking, and defence.
The startup claims that products are designed to plug in with existing infrastructure and do not need to rip or replace any existing crypto infrastructure.
In January 2022, QNu Labs raised undisclosed funding from Speciale Invest, WAOO Partners LLP, and others for research and development, product expansion, and technology.
From L to R: Dr Anil Prabhakar, Srinivasa Rao Alluri, Mark Mathias and Sunil Gupta (Co-founders, QNu Labs)
Bengaluru-based, founded by Nagendra Nagaraja, is integrating quantum computing and AI vertically.
It offers solutions to sectors including transportation, materials, manufacturing, finance, and pharma.
QpiAI Tech has numerous software platforms and products, including QpiAI-explorer, QpiAI-pro, QpiAIsim, QpiAIML, QpiAIopt, and QpiAI-logistics. Its platforms currently run on CPUs and GPUs (Graphic Processing Units) to offer hybrid classical computing solutions to improve performance in optimisation workloads.
The startup claims to be able to build a complete hardware stack based on three-chip solutions: Bumblebee, a scalable cryogenic control chip; Trion, a quantum processing unit; and a scalable spin-qubit based QPU (quantum processing unit).
Chennai-based, founded by Bhagvan Kommadi in 2018, is developing an emerging quantum AI startup.
The startup’s core objective is to develop software to utilise future quantum computer technology. It also focuses on cryptographic tools to provide quantum-proof data security.
Quantica Computacao develops essential algorithms, components, and software tools with the help of quantum computers.
The startup claims to have developed algorithms to address different real-time computing and data analytics challenges.
With its quantum virtual simulator, Alchemy, it is developing a state-of-the-art quantum virtual simulator to compile and run different quantum capable software tools.
Bengaluru-based, founded by Animesh Aaryan, Sugata Sarkar, and Sreeram Sreekrishna in 2018, offers solutions in the field of deep quantum key distribution technology.
The startup’s focus areas include solving QKD’s (Quantum Key Distribution) reliability problems, distance limitations, and point-to-point transmission capabilities.
Taqbit aims to enhance data communication and security by integrating modern quantum technology within an existing infrastructure.
It provides solutions in areas including manufacturing, aerospace, defence, and the financial and healthcare sectors.
Kolkata-based, founded in 2020, is an initiative to promote consulting, quantum research, and education in various areas of quantum computing.
The startup’s vision is to pursue research in several quantum-inspired software areas. It also aims to solve numerous real-life problems.
It claims to collaborate with academic institutions and independent researchers to expedite quantum research.
QRDLab solutions advance the entire quantum computing technology stack and nascent research ideas in India.
The startup aims to develop a quantum-based hybrid cryptographic solution for banking, cybersecurity, defence, and banking sector. It also aims to develop a quantum ML algorithm for drug discovery to promote quantum education.