Ukrainian Haiqu has attracted $11 million in investments. What will the funding be used for?
Ukrainian startup Haiqu, which develops quantum software, announced $11 million in funding in an investment round led by Primary Venture Partners.
Ukrainian startup Haiqu, which develops quantum software, announced $11 million in funding in an investment round led by Primary Venture Partners.
Other investors who participated in Haiqu’s financing included Toyota Ventures, MacVenture Capital, Qudit Investments and Silicon Roundabout Ventures, Reuters reported, citing a Haiqu press release.
According to McKinsey estimates, the total quantum technology market could be worth $100 billion.
«Too few experiments are being conducted today because the costs of quantum cloud technologies are too high and the performance of the hardware remains insufficient. Our goal is to change this overnight with software that can run large applications at a much lower cost,» said Richard Given, CEO and co-founder of Haiqu.
The startup’s Ukrainian co-founder, Mykola Maksymenko, noted that the IBM experiment, which required about $50,000 and 10 hours of quantum computer work, could be performed on the Haiqu platform in less than a minute and for up to $100.
Haiqu was founded in 2022 and has offices in Ukraine, the United States, and Europe. According to Maksymenko, Haiqu currently employs dozens of specialists. Haiqu’s Ukrainian division is focused on R&D and develops high-performance numerical methods, AI, infrastructure, and software.
Haiqu will use the raised funding to develop its own operating system for quantum computing. This should simplify the launch of applied quantum tasks and significantly reduce computational costs compared to existing approaches.
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