Quantum Computing startup, BosonQ Psi raises USD 525k
BosonQ Psi is a Quantum-based enterprise SaaS company that has raised USD 525,000 in the pre-seed funding round. The funding round was led by 3TO1 Capital and saw participation from India and US-based angel investors like Abhay Tandon, Vijay Sethi, Chandan Chowdhury, Saptorshi Hore, Neeraj Khandelwal, Ankur Jain, Vijay Rajagopal, Abhishek Sureka, Shankar Rachakonda and Anand Reddy. BosonQ Psi was founded in 2020 by Abhishek Chopra (CEO), Rut Lineswala (CTO) and Jash Minocha (CFO). The company is now developing the world’s first Quantum-powered engineering simulation software called BQPhy. This software could be used by companies in automotive, aerospace and manufacturing industries to accelerate their time-to-market along with the quality of their products. “Quantum computing, with its unimaginable power, will unlock the new realm of such simulations which previously couldn’t be performed accurately or were cost and time prohibitive. With BQPhy, engineering and R&D teams can now avoid costly recall issues and speed their products’ innovation cycle, respectively. For businesses, this means reducing both CAPEX and OPEX, respectively”, says Abhishek Chopra, CEO, BosonQ Psi. The MVP OF BQPhy was launched earlier this year at the Quantum Business Europe conference. The company is currently carrying out pilots with several global companies. With the pre-seed funding, the company is now gearing up for a product launch next. The alpha and beta versions of the product will be launched later in 2022. “We believe in investing in smart founders who are audacious enough to build the future! The BQP founders and team are building the future through quantum tech, which has a multifold impact on society. Through their innovative simulation engineering modules powered by quantum tech, they would solve problems for large enterprises such as faster GTM and robust products and for the consumers around safety and confidence. It’s a huge market with a multi-billion-dollar TAM, and the founders have the gumption to make it happen! We firmly believe in their vision and are glad to be a part of their journey”, says Abhay Tandon, Co-Founder and GP at 3T01 Capital.
BosonQ Psi is now developing the world’s first Quantum-powered engineering simulation software called BQPhy.
BosonQ Psi is now developing the world’s first Quantum-powered engineering simulation software called BQPhy.
["AI Startups"]
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["AI", "ML", "R", "Go", "API", "innovation", "funding", "programming_languages:R", "programming_languages:Go", "emerging_tech:quantum computing"]
I am a technology journalist with AIM. I write stories focused on the AI landscape in India and around the world with a special interest in analysing its long term impact on individuals and societies. Reach out to me at shraddha.goled@analyticsindiamag.com.