The company recently raised USD 18,1 million in a Series A funding round, backed up by Tencent and other investors, raising the total amount to around USD 21,3 million.
According to Tencent officials, the investment was taken with a science-driven approach, as it was purely financial. The company also took into consideration the `black box` paradox that appears as a challenge in investing in quantum. Evaluating early-stage deep-tech businesses and firms in areas like quantum, nuclear fusion, and biotech can represent a difficulty because of the core technology that is in its early proof-of-concept phase.
The funds are set to be used in the process of developing the company’s products, as well as its expansion to Europe, where Horizon Quantum Computing plans to open an office in Ireland. Furthermore, the money will also help with the scheduled launch of the early access program that is part of its developer software, later in 2023.
Its computers were designed to be able to carry out complicated calculations in a fast and secure way, representing a part of the firm’s focus on simplifying the process of developing quantum software applications. This will help programmers as they would not need to understand the underlying quantum mechanics anymore in order to do their job.
Horizon Quantum Computing’s approach to quantum programming gives the possibility of programs written in a single unified language to be compiled and run on either conventional or quantum computers. This is set to produce fast, efficient, and seamless implementations no matter the platform.
The company’s strategy offers customers greater flexibility and the opportunity to develop and design quantum algorithms across new industries and domains without the need for deep quantum expertise or knowledge.
Horizon Quantum Computing also focuses on the process of automatically constructing quantum algorithms based on programs that are written in classical languages. This allows any programmer to gain a quantum speedup without needing to understand the underlying computational model, as well as without having to restrict themselves to the functionality of libraries that already exist.
Furthermore, while using the services, the source code is parsed first, then recasted in a form that simplifies the code, aiming for the quantum speedups to be detected more easily and safely. Elements of its program are classified and replaced afterward. In the last step of the process, they are translated into the basic building blocks of quantum algorithms, and processed into a quantum program.
The whole procedure is a part of the company’s plan to develop a complete compiler stack that will span the entire chain, from algorithms construction to the psychical level of implementation.
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