Qedma Raises $26M in Funding Round with IBM Participation

The Challenges of Quantum Computing and the Rise of Error Mitigation

Quantum computers, despite their potential, are inherently sensitive systems. Errors represent a significant obstacle for the quantum computing field, hindering the realization of applications in areas like finance, pharmaceutical research, and materials development.

Google has highlighted the error-correction capabilities of its Willow quantum chip. Simultaneously, IBM is pursuing the development of a fault-tolerant quantum computer, aiming for completion by 2029, and is actively collaborating with companies such as Qedma, an Israeli startup in which it has invested.

Qedma's Software-Based Approach to Error Reduction

While much of the focus remains on hardware improvements, Qedma specializes in quantum error mitigation software. Their core product, QESEM, analyzes noise patterns to suppress certain error types during algorithm execution and mitigate others through post-processing techniques.

According to Professor Dorit Aharonov, co-founder and chief scientific officer of Qedma, this technology allows for the accurate execution of quantum circuits that are up to 1,000 times larger than those achievable with current hardware alone.

Collaboration and the Pursuit of Quantum Advantage

IBM engages in both quantum hardware and software development. They also recognize the benefits of partnering with companies like Qedma and Algorithmiq, a Finnish startup backed by Tiger Global, that concentrate on the software layer, as explained by IBM’s VP of Quantum, Jay Gambetta.

Gambetta believes that progress in quantum computing necessitates a collaborative effort. He expressed optimism that a community-driven approach could lead to widely accepted definitions of quantum advantage and, subsequently, to practical applications that will expand the industry.

Defining and Achieving Quantum Advantage

Quantum advantage typically signifies the demonstration of quantum computers' superiority over classical computers. However, Gambetta notes that the definition of “useful” remains subjective.

Initial demonstrations of quantum advantage are likely to occur in academic settings before being applied to real-world problems. Establishing consensus on these achievements will require careful validation to avoid artificial or overly constrained scenarios.

Qedma anticipates demonstrating tangible quantum advantage within the current year, as stated by its CEO and co-founder, Asif Sinay.

Qedma's Origins and Funding

Sinay, holding a doctorate in physics, previously worked at Magic Leap, a prominent AR company. Like many Israeli startup founders, he is a Talpiot program alumnus, Israel’s elite military program.

Qedma recently secured $26 million in Series A funding, led by Glilot Capital Partners, with participation from existing investors like TPY Capital and new investors, including Korea Investment Partners and IBM.

Since last September, Qedma’s software has been accessible through IBM’s Qiskit Functions Catalog, enhancing quantum accessibility for end-users. Sinay emphasizes that Qedma’s solutions are designed to be hardware-agnostic.

Expanding Hardware Compatibility and Partnerships

Qedma has successfully demonstrated its technology on IonQ’s Aria computer, a trapped ion quantum computing system. Furthermore, the company has an evaluation agreement with a major, unnamed industry leader and collaborated with Japan’s RIKEN on integrating quantum computing with supercomputers.

The Q2B Tokyo presentation, co-presented by Qedma’s CTO and co-founder, Professor Netanel Lindner, highlighted these collaborations. Lindner, an associate professor at Technion, is actively seeking to recruit talent from his former students and network.

Growth and Future Plans

Qedma intends to utilize the new funding to expand its team from approximately 40 to between 50 and 60 employees. This expansion will include researchers, software engineers, and personnel for marketing and sales.

The company’s software addresses a key challenge for potential users of quantum computing – the need for specialized expertise in managing noise and running circuits. It allows users to define desired accuracy levels and resource allocation without requiring in-depth knowledge of quantum hardware.

Gambetta explains that Qedma’s software provides options for users to specify their requirements, seamlessly integrating into their existing workflows.

Accelerating the Path to Practical Quantum Applications

While experiments utilizing these tools are underway, the timing of broader quantum advantage remains a subject of debate. Qedma aims to expedite this process by offering a streamlined approach.

Unlike error correction methods that increase overhead and limit scalability, Qedma’s approach does not necessitate additional quantum bits, or qubits. Lindner asserts that quantum advantage can be achieved even before reaching a million qubits.

Other companies, such as Alice & Bob, are pursuing alternative strategies, like developing fault-tolerant quantum computers based on “cat qubits” that are inherently resistant to certain errors.

Qedma remains supportive of efforts to increase qubit counts and improve qubit quality. However, they acknowledge the trade-offs involved, as software-based error mitigation often leads to longer processing times. The optimal approach will depend on the specific application, but ultimately, quantum computing must demonstrate its capabilities in real-world scenarios.