Qunova Computing, a software company from Daejeon, South Korea, that works in the chemical, pharmaceutical, and industrial engineering fields, has raised $10 million in Series A funding.
The investors in this round included S Ventures, Korea Development Bank, GU Equity Partners, Company K, Quantum Ventures Korea, JB Investment, CKD Venture Capital, and Daesung Private Equity.
The company plans to use the funding to grow its operations and continue developing its products.
Qunova Computing was founded in 2021 and is led by CEO Kevin June-Koo Rhee. The company develops special algorithms to bring the benefits of quantum computing to today’s technology.
These algorithms have already been tested with top quantum hardware companies and research institutes. The results show that Qunova can provide real advantages for users, even with current Noisy Intermediate Scale Quantum (NISQ) computers.
The company aims to unlock the huge potential of quantum computing for industrial users by cutting down the number of trials needed to create new materials with specific features.
This will help companies save both time and money in research and development, allowing them to launch new products faster and at lower cost.
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