Paris-based Welinq, a startup that provides solutions to increase the computational power of quantum processors, announced that it has raised €5M in a pre-seed round of funding led by Quantonation.
Runa Capital, the French National Quantum Initiative, the French Banque Publique d’Investissement (BPI), and the European Commission also participated in the round.
Welinq says the capital will help it to scale its quantum computing and enable quantum internet deployment.
Welinq was founded by Tom Darras, Julien Laurat, Eleni Diamanti, and Jean Lautier-Gaud, who had previously partnered in their academic careers.
The platform provides solutions to scale up quantum computing through its ‘quantum memory technology.
It also acts as a quantum infrastructure to enable quantum internet deployment.
The French company claims to have developed the world’s first efficient quantum storage.
The quantum memories technology enables the storage and on-demand release of quantum information without altering its properties.
By leveraging laser-cooled neutral-atom technology, the team has demonstrated 90 percent storage-and-retrieval efficiency, indicating how much information is retained through the process without being lost.
The company claims this technology is mature enough for quick deployment in HPC (high-performance computing) centers and quantum communication infrastructure.
Read more on Tech Gist Africa:
Le Collectionist, Paris-based Airbnb for the one percent, raises €60M
Paris-based Fairmat raises €34M in a Series A round of funding