Nanofiber Quantum Technologies Inc. (NanoQT) announced a successful $8.5 million fundraising round, anchored by global venture capital firms.
The round was backed by US’s Phoenix Venture Partners (PvP) and Japan’s JAFCO Group Co Ltd, SPARX Group Co Ltd, Keio Innovation Initiative, Inc. (KII), and Waseda University Ventures (WUV), which financed the fundraising via convertible notes.
Founded in 2022, NanoQT specializes in fiber connectable quantum computing hardware, specifically the nanofiber cavity Quantum Electrodynamics (QED) technology. This approach, a departure from the conventional superconducting circuits and ion traps, originates from over ten years of research by Professor Takao Aoki from Waseda University, Japan, who is also a NanoQT co-founder.
At the heart of NanoQT’s innovation is its proprietary quantum processing unit (QPU), which leverages neutral atoms and photons as qubits. These qubits play an essential role in processing and storing quantum data and facilitating communication with other QPUs.
With their focus on modularity and scalability, NanoQT’s interconnected QPUs stand out as an ideal platform for distributed quantum computing and various quantum network applications.
NanoQT’s CTO, Dr. Akihisa Goban, emphasized the company’s achievement in overcoming challenges associated with the cavity QED platform. On the funding’s impact, NanoQT’s CEO Dr. Masashi Hirose stated their intent to use the funds primarily to innovate a unique QPU for quantum repeaters, which remains unparalleled in the market.
The investment signifies PvP’s first foray into a Japan-origin startup. Dr. Nobi Kambe, General Partner of PvP, lauded NanoQT’s pioneering stance in quantum hardware. JAFCO’s President and CEO, Keisuke Miyoshi, expressed his confidence in NanoQT’s leadership. SPARX’s Takaki Demichi acknowledged NanoQT’s unique solution to the age-old problem of quantum computer connectivity.
Other investors, including KII’s Naoji Nomura and WUV’s Dr. Hiroaki Ohta, praised NanoQT’s remarkable potential and growth trajectory, emphasizing the startup’s collaborations, R&D team strength, and intellectual property.
With its recent funding, NanoQT plans to fast-track its research and development efforts, hire experts from the US and Japan, and enhance partnerships with academic institutions and corporations. Bridging the Japan-US gap with state-of-the-art technology, NanoQT is poised to redefine global cooperation in quantum computing.
About NanoQT: Based in Tokyo, Japan, and California, US, NanoQT specializes in developing quantum processing units (QPU) using their signature nanofiber cavity Quantum Electrodynamics (QED) system, aiming to innovate in the quantum repeaters and distributed computational sectors.
