Quantum startup Entropica Labs raises US$4.7 million in Series A round
ENTROPICA Labs, a Singapore-based quantum software company, has raised US$4.7 million in a Series A funding round led by Italian deep tech investor Liftt and existing backer Wavemaker Partners.
Other investors in the round include Seeds Capital, the investment arm of Enterprise Singapore; California-based CerraCap Ventures; SUTD Ventures; and Entropica’s seed investors, Elev8.vc.
The funds will be used to expand the company’s team in the areas of quantum error correction, software engineering and computing architectures.
Quantum computers can potentially solve problems that remain intractable for even the most powerful conventional supercomputers. However, quantum computers are prone to errors, which can quickly accumulate.
Entropica is working on software development tools that allow quantum computers to identify and correct errors during computation, making information processing more reliable and scalable.
“As hardware companies continue to unveil bigger and more advanced quantum computing systems, with some crossing significant computational thresholds, the need for sophisticated error correction schemes has never been greater,” said Tommaso Demarie, co-founder and CEO of Entropica.
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The startup will rely on partnerships with leading quantum hardware providers for rigorous testing of its products on real quantum hardware.
Liftt, a first-time investor in Entropica, is chaired by Italian physicist and entrepreneur Stefano Buono. It has invested in 43 startups with a focus on deep tech.
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