Singapore’s quantum computing software startup Entropica Labs snags US$1.8M
Entropica Labs, a quantum computing software solution that is based in Singapore, announced that it has taken home S$2.6 million (US$1.8 million) in seed funding led by deep tech investor Elev8. Joining the round are government-owned deep tech investor SGInnovate, early-stage enterprise and deep tech venture capital (VC) firm Wavemaker Partners, Japanese software enterprise group TIS Inc, talent investor Entrepreneur First, family-owned heritage business Lim Teck Lee Group -chaired by Razer-backer Lim Kaling, VC firm V1 Capital, and US-based quantum computing startup Rigetti Computing, also participated in the round.
According to The Business Times, Entropica plans to use the funding to expand its technical team and continue the development of its proprietary software architectures as well as gaining greater access to a growing number of quantum computing systems.
Quantum computing is yet to reach large-scale adoption and to do so, users and researchers will need an extensive software layer analogous to the one that exists for conventional computers. Entropica offers the software to its users so it can give access to processors that are capable of solving problems that even the most powerful supercomputers cannot tackle.