Sequoia invests in Singapore quantum computing startup Horizon

All over the globe, there are tens of millions of conventional software developers, with 46 million registered on GitHub alone. However, fewer than 1,000 people globally are capable of developing new quantum applications, Singapore-based Horizon Quantum Computing observed.

The startup, which aims to make quantum computing accessible to every developer, has just raised an undisclosed amount of funding in a round led by Sequoia Capital India, bringing its total seed money to US$3.2 million.

Existing investors SGInnovate, Abies Ventures, Data Collective, Qubit Protocol, Summer Capital, and Posa CV also participated in the round.

Horizon CEO and founder Joe Fitzsimons / Photo credit: Horizon Quantum Computing

Founded in 2018, Horizon is developing tools so that programs designed for conventional computers can be automatically adapted for quantum processors.

It will use the new funds to speed up product development, bolster its team, and engage with customers and early adopters.

What problem is it solving? “As hardware development continues to advance, learning to harness the power of quantum processors for business applications will become the main barrier to adoption,” Horizon CEO Joe Fitzsimons said. “We are tackling this problem head-on by developing methods to automatically accelerate conventional computer programs using quantum techniques.”

While the existing approach to quantum development relies on a domain expert to work on the problem or pre-written libraries that contain some common quantum algorithms, Horizon said its approach is different. It looks to enable developers to build programs with fewer lines of code and automatically optimize their programs for real processors.

“What makes our approach unique is that we construct quantum algorithms directly from conventional source code, automatically identifying places where it can be sped up,” Si-Hui Tan, chief science officer at Horizon, explained.

See also: He has an ambitious plan to help ordinary coders write quantum computing software

Some deep-tech players in Singapore are also looking at making quantum computing more accessible. One example is Entropica Labs, which is also backed by SGInnovate as well as Wavemaker Partners, among other investors. Another player is SpeQtral, which is developing space-based quantum communication systems.

But Horizon said it doesn’t see quantum companies as direct competitors. Instead, it sees potential partners and even customers.

“We see our real competition as being in the conventional high-performance computing space rather than other companies focused on quantum software,” the company said.

What’s the opportunity? A study from Boston Consulting Group reveals that the quantum applications market can reach over US$260 billion by 2050 as adoption picks up.