Quantum Computing Startup Zapata Computing Raises $21 Million in Series A Financing
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Apr 17, 2019--Quantum computing startup Zapata Computing ( www.zapatacomputing.com ) today announced it has raised $21 million in Series A financing. Led by Comcast Ventures and Prelude Ventures, the round includes participation from new and existing investors Pitango Ventures, BASF Venture Capital, Robert Bosch Venture Capital, Pillar VC, and The Engine.
Since spinning out of Harvard University in 2017, Zapata has rapidly become an established player in quantum computing with an exceptional team of scientists. Zapata has emerged as a leading enterprise technology company focused on developing a powerful software platform and quantum algorithms to enable the next generation of discoveries — for a wide range of industries including chemistry, pharmaceuticals, logistics, finance and materials — on quantum computers.
“For our Series A, we looked specifically for world-class investors who bring a global reach and a depth of experience in enterprise software and applications,” said Christopher Savoie, CEO and cofounder of Zapata. “The success of Zapata’s quantum software platform in delivering real world advances in computational power for applications — particularly in chemistry, machine learning, and optimization — has sparked an enormous demand from Fortune 100 and Global 1000 enterprises worldwide. The new financing will power our expansion strategy, enabling us to accelerate product development and expand our business into new markets and regions.”
To date, the tech talent shortage in quantum science has been a critical bottleneck to the industry’s progress.
“The playbook for quantum computing is being written right now by first movers like Zapata,” said Alán Aspuru-Guzik, cofounder of Zapata. “As the enterprise demand for our quantum solutions continues unabated, Zapata has a distinct opportunity to aggressively and rapidly cultivate the next generation of quantum science talent who can transform the promise of quantum technology into reality.”
With growing customer demand, Zapata is developing powerful, hardware-agnostic solutions on the latest quantum hardware made by Google, IBM, Rigetti, Honeywell, IonQ and others. Zapata holds an exclusive license to a portfolio of quantum algorithms from Harvard University. Zapata is also a founding member of the Quantum Industry Coalition, an industry group instrumental in driving the bipartisan passage of the National Quantum Initiative in the United States.
Press Kit & Photos: http://bit.ly/ZapataSeriesA
“Quantum computers will solve problems that classical computers haven’t been able to. But as it is still early, the best and brightest minds are needed to drive algorithms and software vital to fuel commercial applications. Zapata has assembled a world-class team that is already pushing the envelope of what’s possible and delivering huge advances in quantum computing. This team has the proven ability to attract the right talent and partners focused on driving the technology toward transforming a wide range of industries.” — Gil Beyda, Managing Director of Comcast Ventures
“With a founding team of the best minds in quantum computing and an unrivaled expertise in quantum algorithms, Zapata will be a driving force for the next era of quantum computing by serving as the vital bridge between quantum software and quantum hardware for enterprises.” — Mark Cupta, Partner of Prelude Ventures
“Led by a world-class founding team of quantum scientists, Zapata is leading the charge in changing how the world uses computing. We are excited to invest in Zapata as the company continues its product and expansion plans in enabling the next generation of accessible, commercial high-performance computing.” — Ayal Itzkovitz, Managing General Partner of Pitango Ventures
“We are happy to support this promising start-up. Zapata is positioned to add value to a wide variety of industries, including chemicals, pharmaceuticals, automotive, aerospace, and finance. Zapata will fill a growing demand for quantum solutions that address key issues its customers are facing.” — Markus Solibieda, Managing Director of BASF Venture Capital
“Driven by efforts from Zapata, quantum computing has evolved from the research of laboratories into now deployable technology. Zapata’s quantum computing algorithms have the potential to accelerate developments in Bosch relevant fields such as material science. Zapata is already creating quantum computing solutions for a variety of applications and markets, and with RBVC’s experience and expertise across a breadth of business sectors and innovations, we look forward to helping accelerate Zapata’s progress.” — Ingo Ramesohl, Managing Director of Robert Bosch Venture Capital
ABOUT ZAPATA COMPUTING
Founded in 2017 and based on technology developed at Harvard University, Zapata Computing is building the leading enterprise software company for quantum solutions to enable the next generation of accessible, commercial high-performance computing. Co-founded by Alán Aspuru-Guzik, a world leader in quantum simulation for chemistry and materials, Zapata’s founding team includes Christopher Savoie, Yudong Cao, Jonathan Olson, Peter Johnson, and Jhonathan Romero. www.zapatacomputing.com
View source version on businesswire.com:https://www.businesswire.com/news/home/20190417005484/en/
CONTACT: Connie Zheng
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE RESEARCH SCIENCE
SOURCE: Zapata Computing
Copyright Business Wire 2019.
PUB: 04/17/2019 09:43 AM/DISC: 04/17/2019 09:43 AM