The round was led by quantum technology investment firm 2xN.
BOSTON, Nov. 27, 2023 /PRNewswire-PRWeb/ -- Quantum Simulation Technologies, Inc. (QSimulate) announces that it has closed a $2.5M financing round led by quantum technology investment firm 2xN. The other investors in this round are UTokyo IPC and Kyoto iCAP. The proceeds will support QSimulate's rapidly expanding business centered on its quantum physics-based drug-discovery platform, QSP Life. QSP Life currently includes QUELO, QuValent, and QuantumFP, spanning small-molecule lead optimization to covalent inhibitor design, and to ultra-high-throughput molecular fingerprinting.
Powerful quantum predictions today
QSimulate uses proprietary quantum physics-based algorithms to faithfully predict answers to large-scale biological problems. QSimulate's technology in its products, such as QUELO and QuValent, have enabled the first quantitative application of quantum mechanics to drug design, providing predictions with unprecedented fidelity, and opening up the computational study of new therapeutic classes. Through quantum-inspired representations, QSimulate's quantum engine scales to thousands of atoms and simulates the dynamical processes that govern biological and drug interactions.
The foundation for a quantum future
QSimulate offers a foundational technology for future quantum hardware. In a multi-year partnership with Google Quantum AI (see details in a recent Google Research blog article), QSimulate has played a key role in the development of fault-tolerant quantum computing algorithms for chemical, material, and biomolecular problems. These contributions provide a roadmap for algorithm design in the quantum future supported by the existing QSimulate technologies.
Quantum towards digital molecular discovery
QSimulate's strategic developments position the company for the digital discovery era. Through the incorporation of physics-based AI, QSimulate's learning models discriminate between AI truth and AI hallucinations in molecular design. In combination with QSimulate's existing quantum simulation innovations, QSimulate is building the technology platform of the digital molecular discovery era.
Niels Nielsen, co-founder of 2xN commented: "We are thrilled to lead the funding round and forge a partnership with QSimulate. Our strategy at 2xN is to back scientists and entrepreneurs who are world leaders in their field and QSimulate is a great example of that.
QSimulate stands at the forefront of revolutionizing drug design and material science, and we're convinced they're only scratching the surface with their already state-of-the-art QM-based simulation methods. With quantum computing on the rise, the interplay between classical and quantum computing will define the future of computation. QSimulate is well-positioned to benefit from this, having on board both quantum and classical simulation experts. The ongoing collaborations with JSR Corporation and Google Quantum AI are a testament to QSimulate's pioneering position in harnessing quantum mechanics for drug discovery and materials innovation, setting a new industry benchmark.
Our investment in QSimulate is not merely a fiscal alliance; it's an expedition into a quantum-imbued future teeming with endless scientific and industrial revelations. The quantum horizon is vibrant, and with QSimulate, we're not just gazing at it; we're sailing towards it at full steam!"
About QSimulate
Headquartered in Boston, MA, QSimulate is a leader in quantum simulation technology for drug discovery and other industry research and development. The company offers a range of products and services designed to leverage the power of quantum mechanics to solve industrial-scale problems like never before. To learn more, visit https://qsimulate.com/, or contact QSimulate at [email protected].
About 2xN
2xN is a London-based investment firm focused on quantum technology. The firm was co-founded by Niels Nielsen, a Danish entrepreneur, tech investor, and pioneer investor in quantum. Other notable investments of the firm include Quantinuum, Sparrow Quantum, Kvantify, QuantrolOx, and Great Lake Crystals.
Media Contact
Charlotte Ward, Quantum Simulation Technologies, Inc., 1 617-249-4828, [email protected], https://qsimulate.com/
SOURCE Quantum Simulation Technologies, Inc.
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