HQS Quantum Simulations strengthens management teams
Wednesday, June 21, 2023
HQS Quantum Simulations landed 1M EUR in funding from the Trumpf group and intends to leverage the fresh capital injection and the reinforcement to the management team to make quantum computers viable for the first time in solving real problems in materials research and the pharmaceutical industry.
HQS Quantum Simulations receives further capital injection and strengthens its management team. The TRUMPF Group's corporate venture capital unit, Trumpf Venture II GmbH, joins the company as a new one-million-euro investor. HQS Quantum Simulations had already closed on a Series A financing round last year. Michael Bolle has also been part of the Advisory Board since then. The former CEO, CTO and CDO of Robert Bosch GmbH brings along years of experience as a technology expert and leading manager. He is primarily dedicated in his new role to the technological development of HQS Quantum Simulations' software.
The quantum technology market has been growing rapidly, reaching a new record high during the last years. So far, however, this key technology has suffered from high error rates so only has limited use for solving real problems in research and industry. This is exactly where HQS Quantum Simulations comes in with its innovative software solution. Instead of conventional variational approaches, HQS Quantum Simulations uses current research results and bases its software's architecture on open quantum systems. These are quantum mechanical systems that interact with their environment, also called the bath, and thus receive more information. This innovative approach means HQS Quantum Simulations can in part utilize the intrinsic errors of existing quantum computers as a resource. HQS software is mainly used in the research of quantum systems. Determination of material properties is particularly relevant for the chemical industry and in the research and development of quantum technology.
Trumpf group invests 1 Million EUR in HQS Quantum Simulations
HQS Quantum Simulations intends to leverage the fresh capital injection and the reinforcement to the management team to make quantum computers viable for the first time in solving real problems in materials research and the pharmaceutical industry. "Our collaboration with Trumpf Venture allows us to further consolidate our team's expertise and take significant steps toward the practical quantum systems. At the same time, we will be able to provide important impetus for the use of quantum computers in industry through the Trumpf Venture network. Michael Bolle brings us his invaluable years of experience as a quantum expert at the interface of practice and research to ensure that our solutions are tailored exactly to the requirements of research and industry," says Michael Marthaler, CEO of HQS Quantum Simulations.
Michael Bolle primarily utilizes his expertise at HQS Quantum Simulations to bring quantum computing and high-tech industry together. To this end, he has taken over as chair of the Advisory Board and provides significant impetus for market positioning. "HQS Quantum Simulations is one of the few start-ups with the expertise to take quantum simulation to the level where materials scientists can actually work in the field and produce innovative research results. Our software is already in use, something we are very proud of. Our vision, however, is to fully exploit the potential of quantum simulation and firmly anchor it in industrial applications. This will markedly move the quantum revolution forward," he says.
Trumpf Venture GmbH, the new investor, shares this conviction. "Quantum simulation will set completely new standards for industrial applications in the future and the HQS Quantum Simulations team is one of the few pioneers in this field. We are confident that HQS Quantum Simulations will become one of the key companies for the next generation of digitally networked industry. On the one hand, quantum simulations can be fully integrated into existing workflows using the HQS Quantum Simulations approach. More crucially, the software runs both on current high-performance computing systems, but can also be seamlessly applied to quantum systems," says Dieter Kraft of Trumpf Venture II GmbH.
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