Nvidia's CEO Jensen Huang once mentioned that it might take another 20 years to develop truly useful quantum computers. However, Nvidia is actively seeking new opportunities in fields beyond traditional semiconductor chips through investments and partnerships.
Recently, SEEQC, one of Nvidia's partners in the quantum computing sector, announced a successful fundraising round. This startup has raised $30 million, led by Booz Allen Ventures and NordicNinja, a Japanese-European venture capital firm. SIP Capital and some existing investors also participated in this Series A extension funding round.
SEEQC is part of a new wave of startups focusing on leveraging classical computing techniques to manage quantum processors. This approach is crucial for managing large numbers of qubits - the fundamental units of quantum computing - and ensuring hardware compatibility with data centers and enterprise needs.
SEEQC, which stands for Scalable Efficient Energy Quantum Computing, believes that reducing the complexity of current quantum hardware hinges on developing chips capable of supporting all core functions of quantum computers. For instance, this could enable controlling numerous qubits via a single cable, something SEEQC considers essential.
Undeniably, today's prototypes often appear cumbersome, reminiscent of early-stage conventional computers in the IT industry. Although Google's Willow quantum chip, known for its error correction capabilities, garnered significant attention, SEEQC pointed out the considerable number of cables involved.
Addressing issues such as cabling, speed, latency, and cost from a systems engineering perspective is critical for constructing large-scale systems. Until these challenges are resolved, scaling up to enterprise-level quantum data centers remains unattainable.
The rapid advancement of artificial intelligence highlights the urgent need for more efficient data centers, while quantum computing promises not only enhanced efficiency but also unlocking new applications like accelerating material and drug discovery.
This explains why German chemical giant BASF recently joined the QuPharma project initiated by SEEQC and supported by the UK, aiming to explore how quantum computing can expedite drug discovery. Partners include Merck Group. "These companies recognize that quantum computing will play a pivotal role in their operations."
This also clarifies why M Ventures, Merck's corporate venture arm, invested in SEEQC in 2020, followed by other investors including EQT Ventures and LG Technology Ventures. Prior to the latest funding round, SEEQC had already secured $224 million.
Moreover, SEEQC collaborates with Nvidia. Announced in 2023, the collaboration aims to create an ultra-low latency digital inter-chip link between quantum computers and GPUs, compatible with all quantum computing technologies once completed.
The new funding will assist SEEQC in accelerating the commercialization and performance enhancement of its chips. SEEQC's growth rate has surpassed expectations for a company founded in 2019, partly due to its origins as a spin-off from Hypres, a chip company established by former employees of IBM's superconducting electronics division.
Since then, the company has tripled its workforce, with teams located in London, UK, and Naples, Italy (where the first pre-production version of the chip was built), and the majority in Elmsford, New York, where they plan to expand their chip manufacturing facility.
Besides the potential of quantum computing, this also aligns with the growing demand for resilient chip supply chains amid geopolitical tensions, particularly those involving China.
Different companies are tackling this issue from various angles, such as photonics, silicon-based chips, and trapped ion qubits. Which method will dominate remains uncertain, but there is widespread agreement within the industry that thinking beyond qubits themselves is necessary. "We need a holistic system architecture leading us towards our goals, with chips at its heart."
