NanoQT Raises $8.5 Million in Funding Round to Advance Quantum Computing Technology

Nanofiber Quantum Technologies Inc. (NanoQT) has successfully raised $8.5 million in a funding round, with participation from global venture capital firms. The round was led by Phoenix Venture Partners (PvP) from the US and JAFCO Group Co Ltd, SPARX Group Co Ltd, Keio Innovation Initiative, Inc. (KII), and Waseda University Ventures (WUV) from Japan.

NanoQT, founded in 2022, specializes in developing fiber connectable quantum computing hardware, specifically their nanofiber cavity Quantum Electrodynamics (QED) technology. This innovative approach, pioneered by Professor Takao Aoki from Waseda University, Japan, who is also a co-founder of NanoQT, uses neutral atoms and photons as qubits for quantum processing and communication.

One key aspect of NanoQT’s technology is their proprietary quantum processing unit (QPU), which is modular and scalable. This makes it an ideal platform for distributed quantum computing and various quantum network applications. Dr. Akihisa Goban, NanoQT’s CTO, highlighted the company’s success in overcoming challenges associated with the cavity QED platform.

The funding will primarily be used to innovate a unique QPU for quantum repeaters, a solution unmatched in the market. NanoQT CEO Dr. Masashi Hirose expressed gratitude for the investors’ support and shared the company’s plans to accelerate research and development efforts, hire experts from both the US and Japan, and strengthen partnerships with academic institutions and corporations.

The investment marks PvP’s first venture into a Japanese startup, highlighting NanoQT’s pioneering position in the quantum hardware industry. Other investors also praised NanoQT’s potential for growth, emphasizing their collaborations, strong R&D team, and intellectual property.

NanoQT aims to bridge the gap between Japan and the US with their state-of-the-art quantum computing technology. With their recent funding, they are poised to redefine global cooperation in the field.

– NanoQT Press Release