Wavemaker, Liftt co-lead $4.7m round in SG quantum software firm

Photo credit: Entropica Labs

Entropica Labs, a Singapore-based quantum software company, has raised US$4.7 million in a series A funding round to develop tools for error correction and fault tolerance in quantum computing.

Liftt, an Italian deeptech VC firm, co-led the round with regional investor Wavemaker Partners.

Funding details

• Funding amount: $4,700,000
• Lead investors: Liftt, Wavemaker Partners
• Other investors: SEEDS Capital (investment arm of Enterprise Singapore), CerraCap Ventures, SUTD Venture Holdings, Elev8
• Stage: Series A
• Source

Quantum computers have the potential to solve problems that are beyond the reach of supercomputers. However, they are subject to errors, which can reduce their performance and accuracy.

Entropica Labs aims to solve this issue by providing developers and users with tools that can design and run quantum circuits and algorithms that are resilient to errors.

The firm will use the new funding to grow its team, speed up software development, and test its products on different quantum hardware platforms.

“Despite massive funding raised in the industry, we can see that there is still enormous room to grow in terms of software development,” said Paul Santos, managing partner at Wavemaker Partners.

See also: A new wave of quantum tech startups from Singapore hopes to make a mark

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