5 Cutting Edge Quantum Computing Startups to Watch in 2023

Quantum computing is one of the most exciting and rapidly advancing fields in technology today. Major tech companies like Google, IBM, and Microsoft are investing heavily in quantum computing research, anticipating its potential to revolutionize everything from drug discovery to artificial intelligence. While these tech giants grab most of the headlines, some promising quantum startups are also making waves. Here are 5 cutting-edge quantum computing startups to keep an eye on in 2023.

1. Rigetti Computing

Rigetti Computing logo

Based in Berkeley, California, Rigetti Computing is a full-stack quantum computing company that builds its own quantum processors and offers cloud-based access to its quantum machines. Rigetti’s newest quantum processor, Aspen-11, contains 113 superconducting qubits. Aspen-11 demonstrates a high level of stability and consistency, important prerequisites for achieving the error correction necessary to scale quantum computers. With a recent $300 million funding round, Rigetti is one of the best-funded startups in quantum computing.

2. IonQ

IonQ logo

IonQ, headquartered in College Park, Maryland, uses trapped ytterbium ions for its quantum bits or “qubits.” Lasers are used to control and manipulate the ions. IonQ’s trapped ion approach allows for a very pure quantum state, meaning there is less “noise” which introduces errors. In late 2021, IonQ became the first publicly traded quantum computing company after a merger with SPAC. IonQ plans to launch a computer with 4,000+ qubits by 2025.

3. PsiQuantum

PsiQuantum logo

PsiQuantum, based in Palo Alto, California, is developing silicon photonics-based quantum computers. Instead of qubits made of superconducting materials or ions, PsiQuantum uses photons of light trapped in silicon chips. With fabrication techniques adapted from traditional silicon semiconductor manufacturing, PsiQuantum aims to be the first company to launch a commercial fault-tolerant quantum computer. PsiQuantum has raised $665 million from investors and formed a partnership with GlobalFoundries to manufacture its quantum photonic chips.

4. ColdQuanta

ColdQuanta logo

Located in Boulder, Colorado, ColdQuanta takes a different approach from gate-model quantum computers. ColdQuanta is building a quantum processor based on cold atom technology. By leveraging principles of quantum mechanics, ColdQuanta’s Hilbert cold atom quantum computer will be able to tackle optimization problems and quantum machine learning. This 100-qubit cold atom technology could give ColdQuanta an edge in near-term applications of quantum computing.

5. Quantum Circuits Inc (QCI)

Quantum Circuits Inc (QCI) logo

Based in New Haven, Connecticut, QCI is focused on developing intermediate-scale quantum computing systems using superconducting qubits. QCI takes a “lab-on-a-chip” approach, putting all of the necessary control circuitry on the quantum processor chip itself, enabling more qubits on a single chip. QCI has created a 64-qubit processor chip and intends to launch a commercial 256-qubit system in 2023. With an easily scalable qubit design, QCI aims to bridge the gap between early-stage quantum computers and the future of fault-tolerant quantum computing using logical qubits.

Conclusion

The field of quantum computing is moving incredibly fast. While tech giants like Google and IBM dominate the headlines, these 5 innovative startups are pioneering new approaches to quantum computing hardware and applications. As they drive progress toward more stable, scalable quantum computers, these startups could become major players in the second quantum revolution.