11 Best Quantum Computing Startups to Watch in [2023]

Have you ever wondered who is on the list of Quantum Computing Companies with the highest growth rates?

You’re not alone.

There are hundreds of Quantum Computing Companies found there, and keeping track of the hottest new startups can be challenging.

But don’t worry, we’ve got you covered. Here are the top 11 fast-growing Quantum Computing Startups that have top-tier venture capital funding.

What are Quantum Computing Startups?

Quantum computing startups are companies that are researching and developing quantum computing technology. Quantum computing is a type of computing that uses the principles of quantum mechanics to process information. 

The technology promises to revolutionize computing by allowing for much faster processing power and improved accuracy for complex calculations. Quantum computing startups are researching and developing hardware, software, and algorithms that can harness the power of quantum computing. 

Examples of quantum computing startups include Rigetti Computing, IonQ, and Cambridge Quantum Computing.

Top 11 Fastest-Growing Startups In Quantum Computing

1) IonQ

IONQ is a company that creates quantum information processors for a variety of applications.

Details of the startup:

• Country: United States
• City: College Park
• Started in: 2015
• Founders: Christopher Monroe, Jungsang Kim
• Number of employees: 51-100
• Funding amount: $82,000,000
• Number of funding rounds: 3
• Number of investors: 15

You can find their website here.

2) Xanadu

Xanadu is a business that combines and builds quantum silicon photonic chips for photonic quantum computing.

Details of the startup:

• Country: Canada
• City: Toronto
• Started in: 2016
• Founders: Christian Weedbrook
• Number of employees: 51-100
• Funding amount: $135,621,646
• Number of funding rounds: 7
• Number of investors: 16

You can find their website here.

3) Strangeworks

Strangeworks brings the power of quantum computing to everyone in one convenient location. Visit http://quantumcomputing.com for additional information.

Details of the startup:

• Country: United States
• City: Austin
• Started in: 2018
• Founders: David Cardona, Justin Youens, William Hurley
• Number of employees: 11-50
• Funding amount: $4,000,000
• Number of funding rounds: 1
• Number of investors: 8

You can find their website here.

4) QANplatform [QAN blockchain platform]

QANplatform is a hybrid blockchain platform that is quantum-resistant. With QANplatform, you can create software apps like DApps or Defi in 5 minutes and perform business activities on the blockchain.

Details of the startup:

• Country: Estonia
• City: Tallinn
• Started in: 2019
• Number of employees: 11-50
• Funding amount: $2,100,000
• Number of funding rounds: 1
• Number of investors: 4

You can find their website here.

5) Quantum Computing

Quantum Computing is working on ways to make quantum computing hardware and software more commercially viable.

Details of the startup:

• Country: United States
• City: Leesburg
• Started in: 2018
• Number of employees: 11-50
• Funding amount: $7,475,500
• Number of funding rounds: 3

You can find their website here.

6) PASQAL

PASQAL develops quantum processors for application in difficult computing problems.

Details of the startup:

• Country: France
• City: Palaiseau
• Started in: 2019
• Founders: Christophe Jurczak, Georges-Olivier Reymond
• Number of employees: 1-10
• Funding amount: € 25,000,000
• Number of funding rounds: 3
• Number of investors: 7

You can find their website here.

7) Zapata Computing

Zapata Computing is a quantum software business that provides industrial and commercial computing solutions.

Details of the startup:

• Country: United States
• City: Boston
• Started in: 2017
• Founders: Alán Aspuru-Guzik, Christopher Savoie, Jhonathan Romero, Jonathan Olson, Peter Johnson, Yudong Cao
• Number of employees: 51-100
• Funding amount: $67,396,550
• Number of funding rounds: 5
• Number of investors: 14

You can find their website here.

8) Agnostiq

Agnostiq is developing a quantum computing development platform to aid organizations in completing mission-critical activities.

Details of the startup:

• Country: Canada
• City: Toronto
• Started in: 2018
• Founders: Edwin Tham, Elliot MacGowan, Oktay Goktas
• Number of employees: 1-10
• Funding amount: $2,801,819
• Number of funding rounds: 5
• Number of investors: 6

You can find their website here.

9) IQM

IQM focuses on superconducting technology to create scalable hardware for universal quantum computers.

Details of the startup:

• Country: Finland
• City: Espoo
• Started in: 2018
• Founders: Jan Goetz, Juha Vartiainen, Kuan Yen Tan, Mikko Möttönen
• Number of employees: 51-100
• Funding amount: € 70,750,000
• Number of funding rounds: 5
• Number of investors: 11

You can find their website here.

10) Q-CTRL

As intuitive software, world-class quantum control engineering skills

Details of the startup:

• Country: Australia
• City: Pyrmont
• Started in: 2017
• Founders: Michael Biercuk
• Number of employees: 11-50
• Funding amount: $15,000,000
• Number of funding rounds: 4
• Number of investors: 8

You can find their website here.

11) QuintessenceLabs

The World’s Leading Quantum Security Company

Details of the startup:

• Country: Australia
• City: Canberra
• Started in: 2008
• Founders: Vikram Sharma
• Number of employees: 51-100
• Funding amount: $30,553,756
• Number of funding rounds: 7
• Number of investors: 2

You can find their website here.

FAQs

Is Quantum Computing Business Profitable?

Quantum computing is still a relatively new technology, and its potential is not yet fully realized. As such, it is difficult to say definitively whether or not it is a profitable business. 

In the long term, quantum computing could open up entirely new markets and opportunities, and businesses that invest in quantum computing now could reap the rewards in the future. 

However, in the short term, many businesses may find it difficult to justify the cost of using quantum computing technology, as the cost of these systems is still relatively high.

What Is The Average Investment In Quantum Computing?

The average investment in quantum computing businesses and startups can range from a few hundred thousand to tens of millions of dollars. The amount of investment needed depends on the size and scope of the business and the technology it is developing.