Quantum News Briefs July 9: planqc secures €50M Series A Funding to advance atom-based quantum computing • Riverlane unveils three-year quantum error correction roadmap • The future data center at the Israeli Quantum Computing Center

News Briefs:

planqc Secures €50M Series A Funding to Advance Atom-Based Quantum Computing

planqc, the European leader in digital atom-based quantum computing, proudly announces the securement of €50 million financing. This substantial Series A investment is led by the European Family Office CATRON Holding and the DeepTech & Climate Fonds (DTCF). Additional financial support is provided by Bayern Kapital, the Max-Planck Foundation, further private investors, existing investors UVC and Speedinvest and it includes a non-dilutive grant from Germany’s Federal Ministry of Education and Research (BMBF).
planqc’s unique technology, built on award-winning research at the Max-Planck-Institute for Quantum Optics (MPQ), aims for rapid advancement in the development of industry-relevant quantum computers. The new financing will be utilized to establish a quantum computing cloud service and to develop quantum software for applications in industries such as chemistry, healthcare, climate-tech, automotive, and finance. Today, planqc is already using quantum machine learning to work on climate simulations or more efficient batteries for electric vehicles.

Riverlane, a global leader in quantum error correction technology, announced July 9 it has released a three-year roadmap for its Quantum Error Correction Stack, Deltaflow, starting in 2024 and culminating in a system where quantum computers can run one million (Mega) error-free Quantum Operations (QuOps) by 2026.
Today, the world’s best quantum computers can perform at most a few hundred quantum operations before failure. This must scale to a million and, ultimately, trillions of operations to unlock the transformative real-world applications that can open a new age of human progress.
Every reliable quantum computer will need quantum error correction (QEC) to reach this point. Deltaflow provides commercial-grade quantum computers with a comprehensive, modular QEC solution, scaling as quantum computers scale and across every qubit type.

In Other News:

Forbes reports on “The future data center at the Israeli Quantum Computing Center”

The new Israeli Quantum Computing Center (IQCC) integrates different types of quantum computers with traditional supercomputers using the NVIDIA DGX Quantum system for ultra-fast communication. Gil Press, Senior Contributor to Forbes discusses the importance of IQCC in his July 8 article summarized below.
In 2022, the Israel Innovation Authority selected Quantum Machines to establish the Israeli quantum computing center at a total budget of NIS 100 million ($27 million) over a period of three years. The center now features the world’s best-equipped testbed for developing new quantum computing technologies, offering broad access to academia and industry, according to Press.
Tthe overall vision driving the center, located at Tel-Aviv University and officially launched on June 24, is to accelerate the development of quantum computers by providing developers with the most advanced facility in terms of interoperability, modularity, and integration with high-performance computing and cloud resources.
“We’re taking the quantum elements out of the lab and into the data center,” says Yoel Knoll, VP of marketing at Quantum Machines. “This is the future data center.”