Singapore Quantum Computing Startup Entropica Labs Bags US$1.8M in Seed Funding | SGInnovate
 

Singapore Quantum Computing Startup Entropica Labs Bags US$1.8M in Seed Funding

Thursday, May 14, 2020

Entropica Labs, a Singapore-based Quantum Computing software startup, has raised S$2.6 million (US$1.8 million) in a seed funding round led by Elev8, a VC firm focused on Deep Tech opportunities. Other participating investors include SGInnovate, Wavemaker Partners, Lim Teck Lee Group, Japanese software firm TIS Inc, V1 Capital, and Entrepreneur First.

 


Founders of Entropica Labs (from left): Tommaso Demarie, Ewan Munro, and Joaquin Keller / Photo credit: Entropica Labs

 

Spun out of Singapore’s Center for Quantum Technologies at the National University of Singapore, Entropica Labs develops software tools, methods, and models to lay the groundwork for bringing quantum computing into the mainstream. It currently focuses on quantum optimization and machine learning technology to help enterprise customers better understand and implement quantum computing.

The startup said it plans to use the new funds primarily to expand its technical team and further develop its proprietary software architectures.

Right now, Entropica’s software roadmap is centered around its Entropy Development Framework, which allows both developers and users to work together on building quantum computing workflows.

To help with development and testing, Entropica has been working with global quantum hardware majors such as IBM, Microsoft, and Rigetti Computing to get early access to quantum computing resources and platforms.

“We are rapidly progressing towards a world in which quantum computing is a reality,” said Wavemaker Partner managing partner Paul Santos. “We recognize the enormous potential of developing software tools that will enable users, for example, to unleash the power of machine learning using quantum computing.”

See also: A new wave of quantum tech startups from Singapore hopes to make a mark

Entropica was founded by Tommaso Demarie and Ewan Munro, both Center for Quantum Technologies alumni, in May 2018. They were later joined in December 2018 by Joaquin Keller, who previously served as the head of a distributed computing research group at telecom firm Orange in France.

Currency converted from Singapore dollar to US dollar: US$1 = S$1.41.

Original article: Techinasia

Topics: Investments, Startups

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