The CP Ventures Fund invests in early-stage technology companies that are highly scalable, at the forefront of breakthrough technologies, and driven by the fourth industrial revolution.

CP Ventures

QxBranch specializes in developing algorithms and software for quantum and classical computers, with a focused on predictive analytics, forecasting, and optimization.  The company develops solutions for industry-leading organizations facing difficult analytics challenges in domains including finance, insurance, pharmaceuticals, media, and energy. Headquartered in Washington, D.C., QxBranch has offices in Adelaide, Australia, and London, UK.

QxBranch

Main Sequence Ventures invests in ambitious founders creating the next set of global industries leveraging deep tech or frontier technologies. The firm is backed by the Australian National Science Agency, CSIRO, the Australian Federal Government, and private investors.  All Main Sequence investments leverage world-leading research from Australian public research organizations such as CSIRO, any of Australia's 41 universities or its multitude of other industry research agencies.

Main Sequence Ventures

R3I is an early-stage venture builder with a portfolio of founder investments. We believe in finding and support the best entrepreneurs across the world that are industry disruptors or helping to solve the world's stickiest social problems.

R3I Ventures

Investible is an early-stage venture capital firm backing the visionaries advancing humanity through technology. Its mission is to connect ground-breaking companies with the capital, expertise and networks they need to realise their potential on a global scale. Founded in 2014 and with offices in Sydney and Singapore, its unique approach to early-stage tech investment globally sees its VC Funds co-investing alongside members of Club Investible, an active, global investor community. Its group portfolio includes more than 100 early-stage companies across 11 countries and 20 sectors.

Investible

Jelix Ventures invests in world class Australian and New Zealand tech startups with sector insiders. Jelix invest in visionary young technology companies to accelerate growth and focus on globally scalable businesses positioned to disrupt traditional markets with innovative technology, led by tenacious entrepreneurs. Jelix is led by startup sector insiders, both experienced investors and entrepreneurs.

Jelix Ventures

At MA Growth Ventures, we invest in growth-stage Australian businesses.  We support companies led by amazing founders and management teams with the knowledge and aspiration to succeed. Since 2016, we have invested over $500 million to support 35 growth-stage companies. We have realised over $300 million in proceeds for our investors across the strategy at an average return of 25% p.a.  We are part of the Asset Management division of MA Financial Group (ASX:MAF) which manages $7.2 billion of investments.

MA Growth Ventures

Ultratech Capital Partners provides capital to innovative technology enterprises that develop software, systems, and processes.  Ultratech Capital Partners was founded in 2021 and was headquartered in Virginia, USA.

Ultratech Capital Partners

The Breakthrough Victoria Fund is a $2 billion investment by the Victorian Government to drive investment in research and innovation.

Breakthrough Victoria

CM Equity Partners specializes in investing in government contract service businesses.

CM Equity Partners

Rampersand is an early-stage venture capital firm. We invest in the best Australian technology founders, teams and companies and are committed to helping them become major national, regional and global leaders.  The rampersand team has worked with successful startups and technology firms in Australia, Silicon Valley, Israel, Europe and Asia. Our partners have seen numerous companies from the early stages through to successful exits including BEA Systems (acquired by Oracle for US$7.2bn), Jajah (acquired by Telefonica), Snaptu (acquired by Facebook), Onavo (acquired by Facebook), StepStone (acquired by Axel Springer) and Amobee (acquired by Singtel for over US$300m).  As you can see, we have done it before and know that companies need more than just capital to succeed.

Rampersand

Quantum Brilliance

Quantum Brilliance builds room temperature quantum computers powered by synthetic diamond, enabling applications in everyday computing, including edge and massively parrellelized computing.

Quantum Brilliance is a quantum hardware startup spun out of the Australian National University in 2019. Its approach to build quantum computers is based on synthetic diamonds and their nitrogen-vacancy (NV) centers.

Quantum information processing is slowly becoming a reality, ushering in a new technological era.

Quantum Computing

Germany backs Australian startup Quantum Brilliance to build a mobile quantum computer

Oak Ridge National Laboratory

To integrate diamond quantum accelerators into high-performance computing systems, enhancing scientific discovery and industrial applications through innovative computational methods and software development.

Companies developing quantum computing hardware using either gate-based or annealing technology.

Quantum Brilliance is a quantum hardware startup spun out of the Australian National University in 2019. Its approach to build quantum computers is based on synthetic diamonds and their nitrogen-vacancy (NV) centers.The company’s quantum accelerator enables small-scale quantum computing that can be used in satellites, vehicles, hospitals, and robotic systems, and wherever classical computers are currently being used. The company reports that its quantum systems are capable of operating at room temperature and undergoing miniaturization. It also states the quality of the diamond-based qubits is superior to superconducting qubits which are very sensitive to the external environment, disturbances, and noise.The company has currently achieved a qubit count of two, however, aims to develop commercial quantum accelerators in the size of a lunchbox, with 50 qubits, by 2025. It has already delivered its first system to the Pawsey Supercomputing Center in Australia in early 2021 and will begin shipping its systems to other commercial customers as well.Key customers and partnershipsThe company has teamed up with various state and academic partners including the <a href="https://sp-edge.com/updates/23427">UK-based Science and Technology Facilities Council's (STFC) </a>Hartree Centre in November to further the development and application of room-temperature diamond quantum devices, the <a href="https://insidehpc.com/2022/03/quantum-brilliance-named-partner-in-17-5m-german-quantum-research-project/">German government </a>in March 2022 to support the R&amp;D of a scalable quantum computer; Australian <a href="https://www.hpcwire.com/off-the-wire/quantum-brilliance-establishes-research-hub-to-accelerate-diamond-based-quantum-computers/">La Trobe University, and RMIT University </a>in April 2022 to establish a new quantum hub to research diamond-based quantum computers; and <a href="https://www.hpcwire.com/off-the-wire/quantum-brilliance-to-lead-22-5m-deutsche-brilliance-research-project/">Fraunhofer Institute for Applied Solid State Physics IAF and the University of Ulm </a>in January 2022 to research fabrication and control mechanisms of diamond-based quantum processors.Funding and financialsIn February 2023, the company secured USD 18 million in <a href="https://sp-edge.com/updates/16389">venture funding </a>from Breakthrough Victoria (funded by the Victorian Government), Main Sequence, and Investible, among others. The proceeds were earmarked mainly for recruiting nine new employees for its Research Hub for Diamond Quantum Materials (launched in April 2021) to accelerate the development of quantum materials and fabrication processes.

The UK-based Quantum Motion Technologies is engaged in developing quantum computer architectures based on silicon technology, which are compatible with standard silicon processing (CMOS process). The company believes this approach will enable it to create scalable quantum computers with thousands to millions of qubits. The company is working on a technology platform that is not just a qubit, but a scalable array of qubits based on the ubiquitous silicon technology already used in smartphones and computers.Quantum Motion’s goal is to fast-track the development of true fault-tolerant quantum computers and reach a million qubits and beyond by leveraging existing knowledge in device fabrication within the trillion-dollar silicon industry.Key customers and partnershipsIn February 2024, Quantum Motion entered into a project with the <a href="https://sp-edge.com/updates/26533">National Quantum Computing Centre (NQCC) </a>to build the UK’s first silicon-based quantum processor test bed in its Oxfordshire site. In November 2023, Quantum Motion partnered with the University of Pennsylvania to further develop its silicon quantum computer chip technology.Funding and financialsThe company raised GBP 42 million (USD 50.5 million) in a <a href="https://sp-edge.com/updates/16504">Series B </a>funding round in February 2023 led by Bosch Ventures (RBVC). The proceeds were allocated for the development of the company’s quantum processors based on silicon technology.

Quantum Motion Technologies

SeeQC is a quantum hardware startup spun out from Hypres, a leading developer of superconductor integrated circuits. SeeQC was developing a digital system-on-a-chip design that integrates classical and quantum circuits into a hybrid system in order to overcome quantum computers’ current challenges. This also reduces noise and interference, maintaining high-fidelity quantum operations at scale. The company owns and operates superconducting flux quantum (SFQ) processors, a chip fabrication facility that enables the creation of multi-chip quantum computing systems and provides foundry services for superconducting devices. It also has facilities in London, UK, and Naples, Italy.Through the hybrid approach, SeeQC believes it can reduce the cost of quantum computers by 1/400th, provide greater control, and reduce energy requirements significantly.Key customers and partnershipsIn September 2023, the company entered into a collaboration with NVIDIA to develop the first all-digital chip-to-chip link between quantum computers and graphics processing units (GPU). SeeQC has also partnered with multinational chemical company <a href="https://sp-edge.com/updates/16298">BASF </a>in February 2023 to explore quantum computing in simulating chemical reactions.&nbsp;&nbsp;

SeeQC

<div>
 
 IonQ develops general-purpose quantum computers using trapped-ion technology. Although the company calls itself a full-stack player, its focus has been on developing hardware. In December 2020, it revealed its quantum roadmap that introduced its new metric, &ldquo;algorithmic qubits (AQ),&rdquo; which represents the largest number of qubits that can be deployed while maintaining high performance and considering error correction. Its latest system IonQ Aria achieved 20 AQ, as of May 2023. In terms of physical qubits, IonQ&rsquo;s latest hardware had 32 qubits, which were expected to hold 22 AQs. In 
 <a href="https://sp-edge.com/updates/23125">
 October 2023
 </a>
 , the company achieved 29 algorithmic qubits (AQ) using barium qubits for the first time.
 
 
 Founded in 2015, IonQ&rsquo;s main competitive advantage stems from its approach to designing qubits that allow computers to be operated at room temperature with lower error rates.&nbsp;
 
 
 IonQ unveiled the industry&rsquo;s first glass-based trapped ion computing chip called the Reconfigurable Multicore Quantum Architecture (RMQA) technology, in August 2021, which the company believes will significantly expand the longevity of qubits and enable at least triple-digit scalability.&nbsp;
 
 
 In 
 <a href="https://sp-edge.com/updates/31824">
 July 2024
 </a>
 , the company unveiled an accelerated roadmap with expanded 2025 technical milestones, focused on improving native two-qubit gate performance to over 99.9% (three 9s) in 2025, with further gains expected in 2026 from the transition to barium qubits.
 
 
 Key customers and partnerships
 
 
 IonQ has entered several strategic partnership including with&nbsp;
 
 
 1) 
 <a href="https://sp-edge.com/updates/25925">
 Rescale
 </a>
 (January 2024) to combine their cloud computing and quantum computing capabilities
 
 
 2) 
 <a href="https://sp-edge.com/updates/22265">
 Air Force Research Lab
 </a>
 (September 2023) to deploy two barium-based trapped ion quantum computing systems for quantum networking research and application development in a deal valued at USD 25.5 million
 
 
 3) 
 <a href="https://sp-edge.com/updates/21158">
 BearingPoint
 </a>
 (August 2023) to offer its quantum systems and related professional services to the European market
 
 
 4) SoftBank Investment Advisers (June 2021) to provide support in deploying the company&rsquo;s quantum systems globally
 
 
 5) Accenture (September 2021) to accelerate the industrial application of IonQ&rsquo;s quantum systems
 
 
 The company offers access to its quantum computer via all major quantum cloud computing platforms including Microsoft Azure, Amazon Web Services (AWS), and Google Cloud Marketplace (GCM). It is also integrated with major software development kits (SDK) including IBM Qiskit and Google Cirq. In May 2023, IonQ began offering its IonQ Aria system on Amazon Braket.
 
 
 Funding and financials
 
 
 The company went public on the New York Stock Exchange (NYSE) under the ticker &ldquo;IONQ,&rdquo; in October 2021 via a special purpose acquisition company (SPAC) merger. The IPO raised more than USD 650 million and made IonQ the first publicly traded pure-play quantum computing company.&nbsp;It earned a revenue of USD 22 million for the year ended December 31, 2023.
 
 
 The company secured Samsung&rsquo;s first-ever quantum computing investment (co-led by a UAE wealth fund) of USD 55 million in 2019. IonQ believes it can tap into Samsung&rsquo;s expertise in miniaturization to shrink quantum computing components.
 
</div>

IonQ

<div>
 
 Rigetti is an end-to-end provider of general-purpose quantum computers. The company&rsquo;s approach to developing computers is based on superconducting qubit technology, similar to Google and IBM. Since 2017, the company has operated a cloud-based quantum platform that allows developers to either create applications or use Rigetti&rsquo;s virtual machine.&nbsp;
 
 
 Rigetti is well-positioned to compete with incumbents as well as startups because of its advancements in hardware, which is currently used by 14 other companies (mostly other quantum software startups). Rigetti introduced the world&rsquo;s first multi-chip quantum processor, in June 2021, that physically connects multiple chips with their own qubits in a single functional processor, which is expected to improve scalability. It also launched its first commercially available 80-qubit quantum system in February 2022, which exceeds the qubit count of any other startup, but is lower than that of IBM.&nbsp;
 
 
 In June 2022, the company expanded its geographical presence with the launch of its 32-qubit, cloud-based 
 <a href="https://sp-edge.com/updates/11308">
 Aspen system in the UK
 </a>
 market. It also strengthened its position in the software segment via the acquisition of QxBranch (a Washington-based quantum computing software company) in 2019. In December 2023, the company launched its first 
 <a href="https://sp-edge.com/updates/24731">
 Quantum Processing Unit (QPU)
 </a>
 , Novera, which is based on its fourth-gen Ankaa-class architecture. The price of the QPU starts from USD 900,000.
 
 
 Key customers and partnerships
 
 
 In July 2021, the company partnered with Astex Pharmaceuticals to apply quantum technology to drug discovery. This partnership was a stepping stone for Rigetti to commercially apply quantum computing to the pharmaceutical industry. Additionally, as part of an InnovateUK grant, the company partnered with 
 <a href="https://sp-edge.com/updates/11334">
 Riverlane
 </a>
 in June 2022 to explore and develop error correction solutions. In October 2023, the company was awarded with a Defense Advanced Research Projects Agency 
 <a href="https://sp-edge.com/updates/22419">
 (DARPA) 
 </a>
 contract as part of the Imagining Practical Applications for a Quantum Tomorrow (IMPAQT) program to advance quantum algorithms for solving combinatorial optimization problems. In January 2024, the company collaborated with 
 <a href="https://sp-edge.com/updates/25242">
 Moody&rsquo;s Analytics
 </a>
 to enhance machine-learning methods for the financial sector using quantum computing abilities. In February 2024, Rigetti Computing and Riverlane joined a project led by the 
 <a href="https://sp-edge.com/updates/27062">
 Oak Ridge National Laboratory (ORNL)
 </a>
 , a part of the US Department of Energy (DOE), to explore the possibility of integrating a quantum computer and high-performance computing (HPC) systems.
 
 
 Funding and financials
 
 
 Rigetti 
 <a href="https://sp-edge.com/updates/8880">
 went public
 </a>
 on Nasdaq under the ticker &ldquo;RGTI,&rdquo; in March 2022 via a special purpose acquisition company (SPAC) merger. The IPO raised USD 261.8 million and made Rigetti the second publicly traded pure-play quantum computing company, following IonQ. 
 
</div>

Rigetti Computing

PsiQuantum develops general-purpose quantum computers based on the silicon photonic approach, a relatively new method that is capable of using the existing silicon supply chain of conventional electronics. This will help the company keep production costs low and provide scalability. Its semiconductor roadmap involves interconnecting multiple quantum processor chips with optical fibers and high-performance optical switches to enable teleportation and entanglement of single-photon operations between chips.PsiQuantum's technology uses individual photons, particles of light, as qubits. This approach offers several advantages, including the ability to operate at higher temperatures compared to other qubit technologies, compatibility with fiber-optic networks, and resistance to electromagnetic interference. Additionally, photons can maintain quantum states for relatively long periods, allowing more quantum operations and increased computational power.The company aims to build a fault-tolerant quantum computer with one million physical qubits by the end of 2027, enabling error correction and addressing complex problems across various industries.In <a href="https://www.psiquantum.com/news-import/psiquantum-opens-uk-based-research-facility-to-develop-next-generation-high-power-cryogenic-systems-for-large-scale-quantum-computing">March 2023</a>, PsiQuantum opened an advanced R&amp;D facility at the Daresbury Laboratory in the UK, backed by GBP 9 million from the UK Government's Department for Science, Innovation, and Technology. This facility provides access to one of Europe's largest liquid-helium cryogenic plants, essential for testing PsiQuantum's approach to storing quantum chips at extremely low temperatures.Key customers and partnershipsWorking toward its goal, in May 2021, PsiQuantum entered a partnership with global chip manufacturer <a href="https://sp-edge.com/updates/2245">GlobalFoundries</a> (GF) to build an integrated, silicon photonics-based quantum system called the “Q1 system” by manufacturing quantum chips in GF’s semiconductor foundry. This partnership also received US federal funding of <a href="https://www.schumer.senate.gov/newsroom/press-releases/schumer-announces-25-million-for-globalfoundries-and-psiquantum-to-develop-the-next-generation-of-quantum-computers-at-rome-air-force-research-lab-and-malta-campus-fed-funding-will-strengthen-national-security-supercharge-us-technological-competitiveness_ensure-upstate-new-york-continues-to-lead-quantum-technology">USD 25 million</a> in April 2022.&nbsp;In <a href="https://sp-edge.com/updates/13868">October 2022</a>, the company secured a USD 22.5 million contract from the US Air Force Research Lab (AFRL) to co-design advanced quantum photonic chips that will be manufactured by GF. The company partnered with Japanese quantum software company <a href="https://sp-edge.com/updates/7246">QunaSys</a> in December 2021 to research quantum-based industrial chemistry and material science solutions and partnered with the UK-based Science and Technology Facilities Council (STFC) <a href="https://sp-edge.com/updates/22518">Hartree Centre</a> in October 2023 to develop Fault-Tolerant Quantum Computing (FTQC) applications in the UK. In January 2024, PsiQuantum and <a href="https://sp-edge.com/updates/25972">Mitsubishi UFJ </a>Financial Group (MUFG) entered PsiQuantum's Qlimate initiative project with Mitsubishi Chemical to research energy-efficient materials to promote a low-carbon economy.In May 2023, PsiQuantum received a USD 25 million grant from the US Department of Defense, through the Air Force Research Laboratory, for tooling and further development of its photonic quantum computer.Funding and financialsIn <a href="https://sp-edge.com/updates/29499">April 2024</a>, the company secured AUD 940 million (USD 620 million) from the Australian Commonwealth and Queensland Governments to establish the first utility-scale, fault-tolerant quantum computer in Australia. Notably, PsiQuantum is one of the highest privately funded startup in the industry.

PsiQuantum

Hardware manufacturers for quantum computers or quantum-adjacent products.

Developers of quantum algorithms and software programs for specific industries such as pharmaceuticals or finance.

Full-stack companies offering hardware and software quantum computing solutions.


Developers of quantum system software such as firmware, operating systems, compilers, qubit control software, etc.

Companies offering access to quantum hardware through either their own hardware or through a third party via the cloud.

Startups in this space offer solutions for building enterprise-specific applications and automations

DISRUPTOR_PRESENT

PROMINENT_CATEGORY

<div>
 <ul>
 <li>Australia-Germany-based quantum hardware startup Quantum Brilliance and UK-based Science and Technology Facilities Council's (STFC) Hartree Centre have partnered to further the development and application of room-temperature diamond quantum devices. The terms and financial details of the agreement have not been disclosed.</li>
 <li>The partnership will integrate Quantum Brilliance’s quantum accelerators with high-performance computing systems to solve practical industry challenges and improve algorithm scalability on quantum devices, with the aim of making quantum technology more widely usable in areas such as chemistry, drug discovery, and finance.&nbsp;</li>
 <li>The Hartree Centre plans to leverage Quantum Brilliance’s devices to improve classical-quantum algorithm scalability. This collaboration aims to demonstrate practical examples of hybrid parallel algorithms and develop massively parallelized high-performance computing centers.</li>
 </ul>
</div>

Quantum Brilliance

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