Merck Venture Arm Invests in Quantum Computing Startup Seeqc

(WSJ) Quantum computing startup Seeqc Inc. has raised more than $11 million in venture capital funding from investors including a subsidiary of German company Merck KGaA, which is interested in using the technology for materials science and pharmaceutical development.
M Ventures, the corporate venture arm of Merck, has invested $5 million in Elmsford, N.Y.-based Seeqc, betting that in several years, the startup’s technology could save Merck time and money related to simulating drugs and chemicals. The Series A is expected to close later this spring, according to a Seeqc spokesperson.
“We think this technology will change the world of simulations for us if it proves to be scalable,” said Philipp Harbach, head of in silico research at Merck.