Sumitomo Corporation invests Quantum Algorithm Design Pioneer Classiq again. We accelerate QX.
Hello, this is Luke from Quantum Transformation (QX) Project.
We are pleased to announce that Sumitomo Corporation (through IN Venture) has made an additional investment in Classiq, which was funded by In Venture, Sumitomo Corporation's corporate venture capital in Israel.
Classiq's press release on this funding
Sumitomo Corporation's press release on the initial investment
Classiq is an Israel-based start-up which provides technologies that streamline the development of software for gate model quantum computers. Software development requires not only programming skills but also quantum mechanics knowledge, and it is a cumbersome, complicated work that takes substantial amount of time. Use of Classiq’s products can greatly reduce the complexity of software development and contribute to the spread of quantum computing. Sumitomo Corporation will evangelize Classiq solution in the Japanese market and contribute in building out quantum computing ecosystem, with the aim of using quantum technology in various business fields in the future.
For more information about Classiq, please see these articles 1 2.
Classiq has raised a total of $33 million from the companies mentioned in the release to meet the company's funding needs due to its rapid growth and expansion.
CEO Nir commented
The quantum industry is now moving from consulting services to quantum products and from prototyping to production.
It is apparent that the spread and rise of the quantum industry has been accelerating. The Quantum Transformation Project will continue to strive to change society for the better with quantum technology.