ACCESS Newswire
16 Sep 2023, 04:38 GMT+10
PALO ALTO, CA / ACCESSWIRE / September 15, 2023 / Nanofiber Quantum Technologies Inc. ('NanoQT') raised $8.5m from leading venture capital investors. Phoenix Venture Partners (PvP) in the US, and Japan's JAFCO Group Co Ltd, SPARX Group Co Ltd, Keio Innovation Initiative, Inc. (KII), and Waseda University Ventures (WUV) financed the round through convertible notes.
Founded in 2022, NanoQT is a leading startup company focused on fiber connectable quantum computing hardware. Unlike superconducting circuits and ion traps for quantum computing, NanoQT uses a technology called nanofiber cavity Quantum Electrodynamics (QED). This technology has been derived from over a decade of intensive research by Professor Takao Aoki at Waseda University, Japan, a leading expert in quantum computing and co-founder of NanoQT.
NanoQT owns a novel and proprietary quantum processing unit (QPU) that employs neutral atoms and photons as qubits, capable of processing and storing quantum information while communicating with other QPUs. Modularity and scalability of interconnected QPUs offer a unique platform for distributed quantum computing and quantum networks for a variety of useful applications. NanoQT's QPU aims to revolutionize quantum computing.
'While cavity QED has long been a recognized platform in quantum computing, developing the ideal cavity posed significant challenges. We've overcome these challenges using our proprietary QED technology,' comments Dr. Akihisa Goban, NanoQT's CTO and co-founder, who studied cavity QED technologies under Professor Jeff Kimble at Caltech.
'We are thrilled with the support from our US and Japanese investors. We aim to spotlight our unique approach and its strengths. With the funding, our primary objective is to develop our proprietary QPU for quantum repeaters, an innovation not yet seen in the market,' proclaims Dr. Masashi Hirose, NanoQT's CEO and co-founder, an MIT graduate and former McKinsey and Company consultant.
'For PvP, investing in NanoQT isn't merely another venture investment. This is our first investment in a Japan-origin startup. We are deeply impressed by NanoQT's innovative approach in the quantum hardware sector and are pleased to support their US expansion,' expresses Dr. Nobi Kambe, General Partner of PvP.
'Our confidence in NanoQT's potential comes from its leadership. The investment is rooted in our belief in NanoQT's management team led by Dr. Hirose and Dr. Goban. We're confident they can assemble a global team well beyond Japan,' comments Keisuke Miyoshi, the President and CEO of JAFCO.
Takaki Demichi, Director and Head of Mirai Creation Investment (SPARX), has a similar sentiment. 'NanoQT's distinct approach doesn't just introduce novelty. It crucially addresses the longstanding challenge of connectivity, enhancing the scalability of quantum computers.'
Naoji Nomura, Principal of KII, emphasizes that 'NanoQT is an outstanding startup with extremely high potential for the global social implementation of moonshot-class quantum network technology, developed over many years at Japanese universities.'
Dr. Hiroaki Ohta, General Partner of WUV, mentioned, 'We are delighted to invest again, having supported NanoQT since the seed round. NanoQT has shown significant growth, especially in terms of collaborations, the R&D team, and intellectual property, which are fundamental for a hardware startup.'
Fueled by this funding, NanoQT plans to accelerate its R&D, onboard talent from the US and Japan, and foster collaborations with academia and private corporations. With the Japan-US synergy, armed with cutting-edge technology, and oriented towards US-Japan collaborations, NanoQT aspires to exemplify global collaboration in the quantum computing field.
About Nanofiber Quantum Technologies, Inc.
Nanofiber Quantum Technologies (NanoQT) is a technology company that develops quantum processing units (QPU) using a novel and proprietary nanofiber cavity Quantum Electrodynamics (QED) system. NanoQT aims to develop connected QPUs that operate as quantum repeaters and distributed computational units. NanoQT currently operates in Tokyo, Japan, and California, US.
Nanofiber Quantum Technologies, NanoQT, and logo are trademarks of Nanofiber Quantum Technologies, Inc.
Contact Information
Dai Tsukada
Head of Operations
[email protected]
SOURCE: Nanofiber Quantum Technologies Inc.
Get a daily dose of Chicago Chronicle news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Chicago Chronicle.
More InformationVancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...
LONDON, U.K.: A little-known investment fund based in the United Arab Emirates has emerged as the most prominent public backer of U.S....
SAN FRANCISCO, California: Across the U.S., a growing number of people are taking obesity treatment into their own hands — literally....
By Reena Bhardwaj New York [US], June 29 (ANI): A prominent Hindu spiritual leader has been recognised by New York City officials...
BEIJING, June 28 (Xinhua) -- Here are the latest Chinese sports headlines from the past week: 1. China's Wang Xinyu finishes runner-up...
By Naveen Kapoor New Delhi [India], June 27 (ANI): The Aircraft Accident Investigation Bureau (AAIB) Lab in New Delhi, is currently...
Washington DC [US], June 27 (ANI): 'The Social Network' fans are in for a treat as their favourite movie is coming back with a sequel....
(250626) -- NEW YORK, June 26, 2025 (Xinhua) -- Khaman Maluach (R) poses for a photo with NBA commissioner Adam Silver after being...
New Delhi [India], June 26 (ANI): Congress leader Jairam Ramesh on Thursday strongly criticised the delay in starting an official investigation...