Singapore-based software startup Horizon Quantum Computing raises $18.1M

OAKLAND, Calif., March 31 (Reuters) – Singapore-based software startup Horizon Quantum Computing announced Friday that it has raised $18.1 million to expand its engineering team and accelerate product development. .

Founded in 2018, the company created a programming language called Helium for quantum computers designed to make tackling complex problems easier.

According to Horizon CEO Joe Fitzsimons, using quantum computers today requires developers to either program rudimentary operations or use pre-written programs from other software makers. must depend on.

A quantum computer based on quantum physics could potentially perform computations millions of times faster than today’s fastest supercomputers. But they’re mostly still in research mode, and they’re still no better than traditional computers for the important things.

Although it is estimated that there are more than 100 million software developers, Fitzsimmons said only a few hundred could program quantum computers from scratch, and banks and pharmaceutical companies would not be able to use pre-written code. They say they want to develop their own code instead of relying on . thing.

“In a way, their algorithms are part of their competitive edge. ?” said Fitzsimmons.

To alleviate the talent shortage, the company wants to create a translation layer that allows software developers using classical computer programming languages ​​such as C++ and Python to use those languages ​​directly on quantum computers. I am planning.

Horizon Quantum Computing also plans to open its first European office in Ireland, where it said it is building a new engineering center.

Sequoia Capital India, China’s Tencent Holdings (0700.HK) and Singapore government technology investment firm SGInnovate were among the investors funding the round, according to the company. The company has raised a total of about $21 million to date.

Reporting by Jane Ranhee Lee Editing by Bill Barclot

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