Do you know what's coming next up in the world of tech and entertainment? The tool includes open source and proprietary quantum libraries, as well as wrappers for quantum computing frameworks like Qiskit from IBM, Cirq from Google, Penny Lane from Xanadu, and Forest from Rigetti. Companies People Investors Funding Rounds Acquisitions Schools Events Hubs Saved . Zapata Computing is funded by 13 investors. "I think the challenge for them is some of the abstractions and the way that actual hardware work hasn't been completely sorted out, so there's some risk that they'll go write a lot of software that doesn't necessarily map onto the hardware that gets developed," he says. In fact, recent research from IBM demonstrated a significant quantum speed-up in supervised machine learning.”. Just like there is no GPU industry. Much of the hype doesn't come from the startup community at all, but from tech giants bragging about their research and showing off new devices, he says. Are you keeping up with the latest cloud developments? So in that case, we can train them on the tool, give them the tool, a little bit of consulting or training or extra help, and hand holding as necessary, but basically teach them how to fish with fish themselves. It's also simply not as popular as AI startups have become today. “Machine learning is a field focused on finding patterns in high-dimension, noisy data, and this is exactly where quantum excels,” Savoie said. "Whereas an academic lab, no one's gonna write a Ph.D. dissertation because they figured out a better way to boost the signal between two different parts of the quantum computer. Biz Carson ( What that means is that today's quantum computing machines are still small and error-prone. The hardware isn't there yet, and if quantum computing machines never get developed, they could be worth nothing, he warns. We asked five investors to break down the opportunity they see in quantum computing, how startups might challenge the big tech companies in the space, and whether quantum is headed for an era of hype. But earlier this year Savoie described the three types of Zapata customers to us: One type of customer is like a big bank that has five quantum scientists working on algorithmic trading. Investment in U.S. quantum computing startups has grown from $4 million and two deals in 2015 to well over $300 million and seven deals so far in 2020, according to PitchBook. Quantum computing startup Zapata Computing (www.zapatacomputing.com) today announced it has raised $21 million in Series A financing. "The curse of, or the burden of deep tech investing, is to distinguish when that is a genuine signal of caution and prudence and maybe the cranky jerks are right and the VCs are just breathing helium — and when they're just defending the status quo," he says. But the potential huge gains in computing power still makes it enticing for investors willing to make the bet, Dickinson says. Join Transform 2021 this July 12-16. Dickinson agrees. Led by Comcast Ventures and Prelude Ventures, the round includes participation from new and existing investors Pitango Ventures, BASF Venture Capital, Robert Bosch Venture Capital, Pillar … Investors have also noted Zapata’s leadership role. Nobody is going to work for Pepsi or Burger King or McDonald’s as a quantum scientist, just in general. That’s certainly a timeline investors are interested in. Folks like Accenture, Tata, and Tech Mahindra who already are doing the data analytics, already doing the data integration work, who can then use this tool, and we can train those people to go and do the final integration, which scales a lot better. Naturally, startups and investor dollars have followed. Our first investment in Zapata Computing — a quantum computing software spinout from Harvard — was done already at the end of 2017. "Every third or fourth company I meet with as a potential new prospect for Sequoia to invest in says they're doing something with machine learning or AI. I also want to receive Protocol Alerts on the biggest breaking news stories and special reports. Get Janko Roettgers' newsletter every Thursday. He visited more than a dozen research institutions before concluding the time is right for private companies to pick up the research from academics. And they still seem generally bullish on the technology even as COVID-19 cools the broader funding market. Zapata Computing has raised a total of $67.4M in funding over 5 rounds. Zapata Computing is a quantum software company that offers computing solutions for industrial and commercial use. With the new funding, Zapata hopes to grow its R&D, science, and engineering teams to support its “global customers” and “develop more cutting-edge features for Orquestra.” Savoie declined to discuss individual customers and use cases due to confidentiality agreements. They’re never going to show any consulting company what their trading algorithms are. @bizcarson) is a San Francisco-based reporter at Protocol, covering Silicon Valley with a focus on startups and venture capital. Zapata Computing General Information Description. Previously, she reported for Forbes and was co-editor of Forbes Next Billion-Dollar Startups list. "It's already a high risk, high return investment category, and that may cause investors to more carefully consider potential investments than they had in the past few years of a booming economy," Ocko says. The company employs artificial intelligence, machine learning, and quantum autoencoder to deliver an end-to-end, workflow-based toolset for quantum computing that advances computational power for applications on quantum computers, enabling … The Series B round was led by Comcast Ventures, Pitango, and Prelude Ventures, and supported by Zapata's Series A investors, BASF, Robert Bosch Venture Capital, and … They’re already doing the data analytics classically, but they’re never going to hire a quantum scientist. A bulk of the investment is being poured into hardware, but there are also deals for software and all manner of niche companies cropping up around both fundamental underlying technologies and future applications. Sign up to get David Pierce's daily newsletter. Quantum computing is poised to bring about intense disruption. Because quantum computing is dealing with much more complex science and very specialized hardware, it's going to be harder to pass it off. He saw it personally when he invested in D-Wave, one of the earliest quantum computing startups that was founded in 1999. "Everything we think about the potential benefits of the technology are at least as true today as they were before, and actually in the race to develop antivirals and vaccines against the disease, a scalable fault tolerant quantum computer would really come in handy right now.". If anything, investors also view the pandemic as validation of how powerful computing would be useful in a moment like this. Just head to the cloud. About Zapata Computing Stock Zapata Computing is a stealth mode Cambridge, MA based quantum software and services company, launched by a group of Harvard scientists, including Alán Aspuru-Guzik. Momentum isn't dead, though: PsiQuantum, which was founded by a former University of Bristol professor in 2016, announced in April that it had raised $215 million. As for the firms looking even deeper into applications, 11.2 Capital's Zhuang thinks it's a little premature. Savoie claims that soon after Zapata was founded in 2017, Fortune 100 companies came knocking with the hopes of benchmarking their current classical data analytics capabilities against potential quantum computing alternatives. ), "There's often existing approaches that are taken by the practitioner in that field and it works just fine," she says. See insights on Zapata Computing including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. His firm has since gone on to invest in Rigetti Computing, Horizon Quantum Computing, Q-CTRL, Atom Computing and several other stealth projects. On top of it all, there is a layer of companies trying to build applications using quantum computing, from machine learning optimization or cybersecurity companies and even companies thinking about chemistry. Get the Pipeline newsletter every Saturday. They wanted to figure out when they should put quantum computing on their roadmap. Our first investment in Zapata Computing — a quantum computing software spinout from Harvard — was done already at the end of 2017. "Investing in Slack in the '80s wouldn't be a very great investment," he says. Organization Name . One of the most valuable outcomes of quantum-powered GANs is the ability to fill gaps in data used to train machine learning models by creating synthetic data that falls within the probability range of existing data. You can review our privacy policy to find out more about the cookies we use. It has since been delayed to 2021. "This is not a two-year-and-IPO consumer software company, but I think the seven- to 10-year range is not crazy here," says Bill Coughran, an investor for Sequoia who also invested in QCI. But when it comes to quantum, that sentiment is reversed. Earlier this year, Zapata CEO Christopher Savoie told VentureBeat that the quantum computing and machine learning business use case is “a when, not an if.” Indeed, while the 58-person company plans to continue its work on optimization and simulation, the team believes “the nearest-term quantum use cases are in machine learning.”. "At a high level, we know how to do it, but it needs to now be put into a commercial entity where somebody can spend all of their time iterating and perfecting specific parts of the device," he says. Zapata Computing Inc. Zapata Computing aims to be the market leader in quantum algorithms and software, providing a complete toolset for solving problems on near term quantum computers. The Company develops quantum computing software and algorithms to solve industry-critical problems. Ludwigshafen, Germany, April 17, 2019 – BASF Venture Capital is joining a group of prominent investors in the Series A investment round of Zapata Computing, Inc. Headquartered in Cambridge, Massachusetts, Zapata is developing both a powerful software platform as well as specific applications for Global 1000 companies to effectively utilize a range of emerging quantum computing … View Zapata Computing stock / share price, financials, funding rounds, investors and more at Craft. Zapata Computing, Inc., the leading enterprise software company for NISQ-based quantum applications, today announced it has received $38 million in Series B funding, bringing the total investment to over $64 million. Be useful in a moment like this popular for machine learning is training... Never going to hire a quantum computing platform developed, they ’ re not to. Them with the latest cloud developments the underlying infrastructure to power that software layer. `` 150. Zhuang broke down the landscape of startups with a handy chart organizing her research into technologies! 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