Welcome to this edition of Qubit/TIDBIT from GooglyTech!

We write about the following EXCITING stories in this issue -

• A Unicorn is Born - Xanadu Valuation at $1 Billion – Raises $100 Million Series C 
• IBM Announcements from Annual Quantum Summit - Osprey is Launching - Tripling Size of Quantum Processor
• Finland and Germany - Quantum Innovation
• Vodafone - Telco Use-case

November 2022 - Issue 5

Xanadu, the Canadian Quantum Company has raised $100 Million Series C. Some more details below –

• Canada’s largest growth equity firm, Georgian led the round. Others that have invested include Porsche Automobil Holding SE, Forward Ventures, Alumni Ventures, Pegasus Tech Ventures, Silicon Valley Bank, along with previous investors Bessemer Venture Partners, Capricorn, BDC Capital, and Tim Draper.

• Xanadu has achieved Unicorn status with valuation reaching $1 Billion in this round.

• Xanadu raised $100 Million last year in Series B financing led by Bessemer. To date, its total raise is $250 Million.

• Xanadu was founded in 2016 by Christian Weedbrook. ...   

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In its annual summit, where it showcases its advances in quantum computing, IBM today announced a 433 qubit processor (‘Osprey’). This is a more than a three-fold jump from the previously rolled-out 127 qubit Eagle processor in 2021. IBM continues to be committed to its stated goal of 4,000+ qubits by 2025.

As Dr. Darío Gil, Senior Vice President, IBM and Director of Research noted, “the new 433 qubit ‘Osprey’ processor brings us a step closer to the point where quantum computers will be used to tackle previously unsolvable problems.”

To bring value for its customers and the marketplace, IBM knows it has to scale beyond hardware – tie its quantum strategy across software and the quantum ecosystem at large, continue to integrate into classical computing such as building out a quantum-centric supercomputing infrastructure. To that end, here are some other parts of the announcement –

Expanding IBM Quantum Network

IBM Quantum Network is an initiative with 210+ organizations (Fortune 500 companies, universities, laboratories and startups) representing more than 450,000 users with access to more than 20 of the largest quantum computers accessible over the cloud. IBM provides special program and support for these organizations within the IBM Quantum Network. ... 

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Finland has rolled-out an unique infrastructure by connecting a general-purpose quantum computer to a supercomputer offering researchers and users opportunities to use this hybrid service.

Pearl and Snow – HELMI AND LUMI

The quantum computer, a 5-qubit machine called HELMI (‘Pearl’ in Finnish) is from VTT, Finnish state sponsored R&D outfit. HELMI is also Finland’s first quantum computer. But more to come. As Pekka Pursula, Research Manager at VTT puts it, “we will continue to build bigger and more powerful quantum computers, which will also become available for users through the same gateway.”

LUMI (meaning “Snow” in Finnish), Europe’s most powerful classical supercomputer is hosted by CSC – IT Center for Science. The gateway (built within the framework of the Finnish Quantum-Computing Infrastructure FiQCI) between HELMI and LUMI means – “LUMI is now the most powerful quantum-enabled supercomputing infrastructure in the world, in addition to being a leading platform for artificial intelligence. ...

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At the IBM Quantum Summit 2022, Vodafone and IBM announced two initiatives –

• Vodafone will join IBM Quantum Network and explore quantum use-cases in the telecommunication space. This initiative will also help Vodaphone’s employee upskill and learn quantum technology through iterative prototyping led by IBM. In addition, Vodaphone plans to build competency by actively recruiting quantum computing talent. ...

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Germany’s Ministry of Economic Affairs and Climate Action (BMWK) has been very active in investing to build a quantum ecosystem in Germany. This includes pledging a total of €878 million in funding for the development of quantum technologies and quantum computing. Majority of that funding (€740 million) is being invested through DLR – German Aerospace Center (please read our recent story on DLR here). “The German government’s investment indicate how serious it is about quantum computing in Germany,” says Asha-Maria Sharma, computing industry expert at the German government agency Germany Trade & Invest. ... 

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• November 12, 2022 - Quantum Communications in 6G Wireless Networks (Location – Virtual; Register here)

• November 13, 2022 - Third International Workshop on Quantum Computing Software @SC22 (Location – Dallas, Texas; Register here)

• November 29 - December 1, 2022 - Quantum World Congress - See our recent story here - (Location – Washington, DC; Register here)