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Classiq: A Quantum Computing Development Platform

Streamlining quantum computing for developers and scientists

AI technology
Written by

Todd McIntyre

Published on

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3 min

Alumni Ventures portfolio company Classiq provides quantum software developers across industries with a platform for designing useful quantum applications and deploying it seamlessly on quantum clouds and hardware devices of their choice.

The Significant Potential of Quantum Computing

Quantum computing promises a revolutionary leap in data processing capabilities. There are PhD courses dedicated to learning the underlying mechanics of quantum theory, but the practical ramifications and applications of the technology are easy to grasp. Quantum computers possess incredible potential in cryptographic security, artificial intelligence, complex physics simulations, and more. As a result, quantum computing will impact virtually all industries and sectors in the next few decades.

One example of the promise of quantum computing is Alumni Ventures portfolio company Classiq. It provides developers across industries a platform for developing useful quantum software and deploying it seamlessly on clouds and hardware devices of their choice. Classiq’s patented Quantum Algorithm Design platform delivers the higher-level abstraction* required to implement industrial-grade quantum circuits through a streamlined interface for developers and scientists.

*”Abstraction” in computing refers to the removal of details that are irrelevant combined with a focus on what is relevant in a given context

Think Like a VC: Classiq

Todd McIntyre, Managing Partner of Spike Ventures, shares what our team liked about quantum software company Classiq, which led us to invest.

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What We Liked About This Opportunity

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    Large Market Potential

    IDC projects customer spend for quantum computing to grow from $1.1 billion in 2022 to $7.6 billion in 2027. This represents a five-year compound annual growth rate (CAGR) of 48.1%.*
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    Strong Technical Team

    Classiq was founded by developers from Talpiot, an elite Israel Defense Forces (IDF) training program for recruits who have demonstrated outstanding academic ability in the sciences. These alumni are in high demand, and Classiq counts nine of them on their team.
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    Patented Technology

    The company has a differentiated product and has filed 10 patents to date, with plans to file additional patents in the next several years. This positions them well for a surge in quantum-related tech development.

*Michael Shirer; Heather West, “IDC Forecasts Worldwide Quantum Computing Market to Grow to $7.6 Billion in 2027,” International Data Corporation, August 17, 2023

A New Programming Paradigm For Quantum

Classiq has created a dedicated platform for developers to easily create quantum circuits out of conventional functional code. This solves one of the primary challenges facing prospective quantum developers: quantum architecture requires a fundamentally different paradigm for writing programs. Conventional computers manipulate “bits” — logical 1s and 0s. Quantum computers manipulate “qubits,” which exist in a variety of states at any given time.

Classiq provides a Quantum Algorithm Design (QAD) platform that enables the creation of quantum circuits at a time when quantum computing is trending mainstream. QAD is the equivalent of computer-aided design (CAD) for quantum systems. With QAD, quantum software engineers and scientists can streamline the coding of prototype quantum programs.

Unravel the Complexity of Quantum Computing

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How We Are Involved

Spike Ventures (for the Stanford community) sponsored Alumni Ventures’ investment in Classiq’s $49 million Series B in 2022 — “the largest quantum software round to date.” The funding was raised across three rounds, featuring participation from Awz Ventures, Hewlett Packard Pathfinder, HSBC, Phoenix Holdings, Samsung NEXT, and others.

AV invested in an initial $33 million round alongside sibling funds Strawberry Creek Ventures (for the UC Berkeley community), Westwood Ventures (for the UCLA community), and AV’s Total Access Fund and Deep Tech Fund.

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Contact [email protected] for additional information. To see additional risk factors and investment considerations, visit av-funds.com/disclosures.

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