Nanofiber Quantum Technologies Raises $8.5 Million for Advancements in Fiber-Connectable Quantum Computing

Photo Credit: Nanofiber Quantum Technologies Inc.

PALO ALTO, Calif., September 15, 2023 (VSNewsNetwork.com) - Nanofiber Quantum Technologies Inc. ("NanoQT"), a startup specializing in quantum computing hardware, has successfully raised $8.5 million in a funding round backed by several leading venture capital firms. Phoenix Venture Partners (PvP) in the United States, along with Japanese firms 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 focuses on the development of fiber connectable quantum computing hardware. The company employs a unique technology known as nanofiber cavity Quantum Electrodynamics (QED). This technology was developed over a decade by Professor Takao Aoki at Waseda University in Japan, a leading expert in the field of quantum computing and a co-founder of NanoQT.

"We've overcome significant challenges in developing the ideal cavity using our proprietary QED technology," stated Dr. Akihisa Goban, NanoQT's CTO and co-founder. According to Dr. Goban, this technology allows for the creation of a novel and proprietary quantum processing unit (QPU) that uses neutral atoms and photons as qubits.

Dr. Masashi Hirose, NanoQT's CEO and co-founder, commented on the recently secured funding: "With the funding, our primary objective is to develop our proprietary QPU for quantum repeaters, an innovation not yet seen in the market."

The investor community expressed strong confidence in NanoQT's leadership and technology. Dr. Nobi Kambe, General Partner of PvP, noted, "We are deeply impressed by NanoQT's innovative approach in the quantum hardware sector and are pleased to support their U.S. expansion." This was echoed by Keisuke Miyoshi, the President and CEO of JAFCO, who said, "The investment is rooted in our belief in NanoQT's management team. We're confident they can assemble a global team well beyond Japan."

The funding is expected to accelerate NanoQT's research and development efforts, support talent acquisition from the US and Japan, and foster academic and corporate collaborations.

For further information, visit www.nano-qt.com.

Source: Nanofiber Quantum Technologies Inc. via Newswire