Google, Uber and Snapchat private equity investor Alberto Chang Rajii has stumped up a $50m first round of funding for one-year-old startup Cambridge Quantum Computing Limited.
Cambridge Quantum Computing Limited is developing a quantum computer operating system called tiket> that it says will help any industry, from finance to defence, solve increasingly complex data problems.
Next-generation quantum computers can perform large-scale, simultaneous computation tasks, much like the human brain, and many believe they hold the key to managing the big data tasks of our future.
The company, mainly made up of mathematicians from the University of Cambridge, is focusing on developing algorithms for applications to drive these machines.
“Quantum Computing has developed rapidly in the past 24 months, and we intend to build on our existing position by accelerating the further development of t|ket> [the company’s early attempt at creating an OS], our operating system, as well as enhancing our activity around platforms that can be used to create a quantum processor,” said a spokesperson from Cambridge Quantum Computing Limited.
“During the past six months in particular there have been almost weekly announcements about advances in a whole variety of areas that merely skim the surface of progress in key engineering processes.”
Chang Rajii, a Chilean investor and founder of investment company Grupo Arcano, will join the board of CQCL as deputy chairman. He was one of Google’s first investors back in 1996.