About Fitz Gate Ventures: * Fitz Gate Ventures is an early stage, network-driven venture capital firm formed in 2015 with a focus on the New York and Texas ecosystems where the firm’s principals have deep networks and teach at the Princeton University Graduate School and Rice University Jones School of Business. * The firm brings a unique strategic advantage to its portfolio companies by leveraging its proprietary “Friends of Fitz” network, comprised of hundreds of venture capitalists, startup founders, educators, senior executives and subject matter experts.  * Fitz Gate’s results in Funds I and II are exceptional, and Fitz Gate has recently launched its third fund with a committed anchor investor. * Fitz Gate’s GPs (Jim Cohen and Mark Poag) are mentors to Techstars NYC, the Princeton Entrepreneurship Council, the Rice Alliance, the Rice Lilie Lab and the northeast National Science Foundation I-Corps Hub program, and they are members of Princeton’s Keller Center eLab Advisory Committee and the Princeton Dean for Research’s Advisory Council. Jim and Mark were each awarded the Clio Hall Award in 2022 from the Princeton Graduate School in recognition of their contributions to Princeton’s graduate students.  * Fitz Gate writes initial checks of $500K - $2M, reserving for follow-on rounds and has a special focus on deep tech, hard tech, and climate tech. Fitz Gate will lead rounds, co-invest with other funds or invest alone.  * World class investors such as Andreessen Horowitz, Sequoia, Bessemer, Canaan, 8VC, Eli Lilly, Temasek/Xora, Blackrock, Greycroft, Spark, Bezos Expeditions, Merck, Fidelity, MIT Engine Fund, Morgan Stanley, Blackstone, First Round, Sapphire, KKR, Fusion Fund, Koch Disruptive Technologies, Fidelity, Liberty Media, Porsche and others have invested in follow-on rounds in Fitz Gate portfolio companies. * To learn more visit www.fitzgate.com

Fitz Gate Ventures

Sequoia is a venture capital focused on energy, financial, enterprise, healthcare, internet, and mobile startups. The firm helps a small number of daring founders build legendary companies. It spurs them to push the boundaries of what’s possible. The firm seeks to invest in all sectors with a focus on energy, financials and financial services, healthcare and healthcare services, Internet, mobile, outsourcing, and technology.

Sequoia Capital

Canaan is an early stage venture capital firm that invests in entrepreneurs with visionary ideas. With $5B under management, a diversified fund and over 190 exits to date, Canaan has invested in some of the world's leading technology and healthcare companies over the past 30 years. Canaan’s focus areas include fintech, enterprise/cloud, marketplaces, frontier tech, biopharma, digital health, and medtech.

Canaan Partners

Tribeca Venture Partners is a multi-stage venture capital firm that invests in digital media, e-commerce, fintech, education, ad tech, and mobile apps sectors. The firm was founded in 2011 by Brian Hirsch and Chip Meakem and is based in New York, United States.

Tribeca Venture Partners

Osage University Partners is a venture capital firm focused on investing in startups that are commercializing university technologies. Osage partners with research universities to invest in their innovative startups shareing its investment profit with partner institutions. The firm invests in software, hardware, and life science companies at all stages of company development. To date, it has partnered with over 80 universities, including 36 of the top 50 U.S. institutions by research expenditures, and has invested in over 50 of their spinouts.

OUP (Osage University Partners)

Quantum Circuits

Quantum Circuits, Inc. (QCI) is a private venture founded in late 2015. QCI’s long-term goal is to develop, manufacture, and sell the first practical and useful quantum computers based on superconducting devices. Along the way to building a quantum computer, QCI will commercialize the components, devices, and software that will accelerate basic research and enable the scaling of quantum computing. “Quantum circuits” has a double meaning. First, the name indicates that QCI is focusing on the quantum circuit model for quantum computation, which enables universal and fault-tolerant operations using error correction. Second, our technology relies on quantum circuits – electrical devices using superconducting Josephson junctions that can act as solid-state quantum bits, or qubits. QCI was founded by three scientists from the Department of Applied Physics at Yale University: Michel Devoret, Luigi Frunzio, and Robert Schoelkopf. They are world-leading experts in quantum devices and quantum information processing with solid-state devices, with a decades-long record of innovation in new devices, techniques, and fundamental concepts. Their group has produced many scientific firsts, including the development of a “quantum bus” for entangling qubits with wires, the first implementation of a quantum algorithm with a solid-state device, and the demonstration of solid-state qubits with scalable levels of coherence.

<div>Quantum Circuits Inc (QCI) is an end-to-end quantum solutions provider spun out from Yale University and has an ongoing scientific partnership with the Yale quantum lab. While Yale scientists continue their research, the company is focused on commercial development, incorporating advances from the lab into its hardware and software development.</div>

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

Quantum Computing

<div>
 
 Quantum Circuits Inc (QCI) is an end-to-end quantum solutions provider spun out from Yale University and has an ongoing scientific partnership with the Yale quantum lab. While Yale scientists continue their research, the company is focused on commercial development, incorporating advances from the lab into its hardware and software development.
 
 
 QCI&rsquo;s approach to building quantum computers is based on superconducting qubit technology, it has yet to develop a hardware device. It is also building a software platform to run novel and complex algorithms to unleash the potential of quantum computing.
 
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<div>
 
 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.
 
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Quantum Motion Technologies

<div>
 
 SeeQC is a quantum hardware startup spun out from Hypres, a leading developer of superconductor integrated circuits. SeeQC is developing a unique digital system-on-a-chip design that integrates classical and quantum circuits into a hybrid system in order to overcome quantum computers&rsquo; current challenges. The company owns and operates a state-of-the-art superconductive chip fabrication facility 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.
 
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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.
 
 
 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;
 
 
 Key customers and partnerships
 
 
 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.&nbsp;
 
 
 IonQ secured a strategic partnership with SoftBank Investment Advisers (June 2021) to provide support in deploying the company&rsquo;s quantum systems globally, and with Accenture (September 2021) to accelerate the industrial application of IonQ&rsquo;s quantum systems. It also joined hands with the University of Maryland (UMD) in September 2021 to establish a national quantum lab in Maryland. In October, UMD and IonQ demonstrated a breakthrough cost-effective, error correction approach to enable building a fault-tolerant practical trapped ion-based quantum computer.&nbsp;
 
 
 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. 
 
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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). In 2018, Rigetti announced it was working on building a computer with 128 qubits, potentially the highest in the world if completed. 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;
 
 
 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 in June 2022. It also strengthened its position in the software segment via the acquisition of QxBranch (a Washington-based quantum computing software company) in 2019.&nbsp;
 
 
 
 
 
 Key customers and partnerships
 
 
 Rigetti has also collaborated with AWS to ease access to its computing cloud. In July 2021, it partnered with Riverlane and Astex Pharmaceuticals to apply quantum technology to drug discovery. This partnership will also be 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.&nbsp;
 
 
 
 
 
 Funding and financials
 
 
 The company 
 <a href="https://sp-edge.com/updates/8880">
 went public
 </a>
 on the Nasdaq Capital Market 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. 
 
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Rigetti Computing

<div>
 
 PsiQuantum develops general-purpose quantum computers based on the silicon photonic approach, a relatively new method which is capable of using the existing silicon supply chain of conventional electronics. This will help the company keep production costs low and provide scalability, allowing PsiQuantum to focus on building a commercially viable quantum computer with one million qubits, the company&rsquo;s primary development goal.
 
 
 
 
 
 Key customers and partnerships
 
 
 Working towards its goal, in May 2021 PsiQuantum entered into 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 &ldquo;Q1 system&rdquo; by manufacturing quantum chips in GF&rsquo;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. 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.
 
 
 
 
 
 Funding and financials
 
 
 Founded in 2016, the company has remained relatively quiet about its silicon photonic approach but gained wider attention after attracting the two largest funding rounds in industry history with GBP 179 (USD 230 million) in 2019 and USD 150 million in April 2020. In July 2021, the company surpassed its own record with a Series D funding round of up to USD 450 million, making PsiQuantum the highest privately funded quantum startup at the time. The proceeds were earmarked for building the 1 million-qubit computer and expanding its team of exper
 
</div>

PsiQuantum

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

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


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