MONTREAL, Feb. 03, 2022 (GLOBE NEWSWIRE) -- infinityQ Technology Inc. (https://www.infinityq.tech/), the creator of quantum analog computing, has announced the closing of their seed extension round with strategic investors, such as Hevella Capital, iGlobe Partners, and Westcott Investment Group, along with returning investors Cato Stonex and Louis Vachon. This will aid in the development of the next generation of their technology and bring applications to the market - which will be at least 100 times computationally faster than its predecessor, while improving its already ultra-low energy consumption by 10 times. The development of products based on their technology will bring speedup to different industries, starting with gaming.
“We are very pleased to support infinityQ on shaping tomorrow and on contributing to one of the most groundbreaking technologies of the future,” says Markus Kreipl, Investment Manager at Hevella Capital. “With infinityQ’s quantum analog computing technology, problems can be solved 100,000x faster and significant progress can be made in medicine, physics, chemistry, banking, gaming and many more. [...] Whereas the road to a classical programmable, fault-tolerant quantum computer is still long, infinityQ’s quantum analog technology is already up and running on its way to further increase qubits to 5,000+ soon.”
In April 2021, the company announced the reveal of their independent cloud platform, infinityQube, focusing on optimization problems. With new capabilities, including graph-based problems, the company is working on the commercialization of their solutions to the gaming industry. They will continue developing the next generation of their chip, codenamed “C∞per”, which will be designed to seamlessly integrate with systems to solve complex problems with an increased computational speed up. “We are incredibly excited to back a world class women-led team that is going to be a pioneer in commercializing quantum [speed-up] not tomorrow but today,” said Court Westcott, MP at Westcott Investment Group.
Based on infinityQ’s novel approach using the superposition of states to explore the whole space of solutions at once, they can solve computationally intensive problems such as world generation in your favorite video games.
The closing of this seed extension round shows promise for the young startup in the Quebec ecosystem. Since June 2020, the 2-year-old company has raised nearly $5mn USD from investors spanning the globe from the US to Singapore. infinityQ is now focusing on its first commercial efforts. “With the completion of this seed extension round, infinityQ will be able to go from prototypes to commercially available products that will allow users to significantly reduce the processing time required to solve complex computational problems and in some cases to even be able to solve currently unsolvable problems,” says Ricardo Pascoe, Chairman at infinityQ. “infinityQ’s quantum analog technology will revolutionize the world of classical, quantum and supercomputing.”
“We incorporated our company in January 2020, just before the pandemic changed our entire lives. Now more than ever, we understand that the need for computational speed up is crucial to making our communities more resilient to idiosyncratic events. Our mission is to leave the world better than how we found it, so we will focus on going where the first need is for computational speed-up, not solely where it can benefit the bottom line,” says Aurelie Helouis, CEO & Founder of infinityQ.
About infinityQ
infinityQ, a women-founded and engineered company, is the developer of quantum analog computing devices, based in Montreal, Canada. The company brings to market the computational speed promised by quantum computing, by re-imagining the analog paradigm. Leveraging the first of its kind technology, infinityQ is open to partnerships to utilize their cloud platform capabilities to tackle the most complex problems - from the gaming to pharmaceutical industries in due course. Its low power consumption saves clients over 100 times in energy costs and enables computational power for computationally intensive problems. For more information, visit https://www.infinityq.tech/ and follow us on social media @infinityqtech.
