Entropica Labs, a quantum computing software startup, has raised $1.8 million (Or about $2.6 million Singapore) in a seed funding round led by Elev8, a VC firm focused on deep-tech opportunities, according to a company statement.
The startup said it plans to use the new funds primarily to expand its technical team and further develop its proprietary software architectures.
The team wrote in its Medium blog: “While experience has led us to shift our application focus from our original ideas, our mission has never changed: Doing the best with quantum computers, today. We recognise it is a privilege to study, understand, and use the most advanced quantum processors available. We are now expanding our capabilities and software technology while growing Entropica’s core team in sunny Singapore, a booming hotspot for quantum technologies research and one of the world’s most captivating cities.”
The Singapore-based company 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.
Other participating investors include SGInnovate, Wavemaker Partners, Lim Teck Lee Group, Japanese software firm TIS Inc, V1 Capital, and Entrepreneur First, according to a statement.
It was spun out of Singapore’s Center for Quantum Technologies at the National University of Singapore,