In 2017, Zapata Computing spun out of Harvard to develop quantum software and algorithms for business and they have received over $26 million in funding.
A quantum computing start-up company called Zapata has worked with IBM to develop a new way to factor large numbers, using it on the largest number that has been factored with a quantum computer so far. The team found that 1,099,551,473,989 is equal to 1,048,589 multiplied by 1,048,601.
Read more: https://www.newscientist.com/article/2227387-quantum-computer-sets-new-record-for-finding-prime-number-factors/#ixzz687H0BZf3
The $21 million round was led by Prelude Ventures and Comcast Ventures, and included participation from Pillar VC, The Engine, BASF Venture Capital, Pitango Ventures and Robert Bosch Venture Capital. The raise will bring the company’s total funding to about $26.45 million.
Zapata’s scientists helped create the field of near-term quantum algorithms including the invention of VQE, the progenitor of variational quantum algorithms. They use this expertise to solve customer problems.
Zapata’s focus right now is on applications where quantum computing can offer some advantages over traditional supercomputing, particularly in three key areas: simulation of chemical reactions, machine learning and optimization problems, which are of particular interest in areas like logistics and planning.
Zapata’s product is Orquestra™ which is a Quantum Platform. You can use it to compose quantum workflows and execute them across the full range of quantum technologies.
Zapata is developing powerful, hardware-agnostic solutions for a wide range of industries including chemistry, finance, logistics, pharmaceuticals, engineering, and materials.