Austin-based quantum computing startup Strangeworks has landed $4 million to build out its platform.
The lead investor in the deal was Lightspeed Venture Partners, with participation from
Ecliptic Capital, GreatPoint Ventures, Lux Capital, BoxGroup and Amplify Partners and private individuals.
The company was founded in 2017 by William Hurley, an Austin serial software entrepreneur who goes by the nickname “Whurley.”
Hurley previously founded Honest Dollar, which helps small businesses open employee retirement accounts. Honest Dollar was acquired by Goldman Sachs in 2016 for an undisclosed price.
Strangeworks designs quantum software tools for software developers, system managers, researchers, technical staff and chief information officers.
The tools are aimed at helping users take advantage of quantum computers, which are devices designed to harness the rules of quantum mechanics to deliver more processing power than traditional computers.
In April, IBM Corp. partnered with eight startups including Strangeworks to accelerate the development of quantum computing.
Under the partnership, the startups became part of the IBM Q Network, a worldwide community dedicated to advancing quantum computing and exploring practical applications for business and science.
Membership in the Q Network allows the startups to run experiments and algorithms on IBM quantum computers via cloud-based access.
Strangeworks, which has seven employees, is initially focused on providing quantum tools to four industries -- aerospace, energy, finance and pharmaceuticals.
The company said it will initially debut a subscription service to its developer and system management tools. It did not specify when the launch will happen.
“We are at the dawn of the commercial quantum era, and by combining an experienced team with a smart go to market approach, Strangeworks is well positioned to lead in this fast-growing industry,” said Ray Lane, managing partner with GreatPoint Ventures. “Our investment in Whurley and his team expresses our confidence in their leadership in this nascent industry.”
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