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Danish Startup Kvantify Raises €10M to Integrate Quantum Computing with Life Sciences

Danish Startup Kvantify Raises €10M to Integrate Quantum Computing with Life Sciences

A €10 million seed funding round led by Danish venture capitalist Dreamcraft, biotech financier Lundbeckfonden BioCapital, alongside private investment firm 2degrees, has been shut down by Danish quantum software developer Kvantify. Other notable investors include Danish lead quantum VC 2xN, an international startup investor with a focus on certain industries, and EIFO, which is well-known for its investments in NIL Technology and EvodiaBio.

Usage of Funds

Danish Startup Kvantify Raises €10M to Integrate Quantum Computing with Life Sciences

Image Source: techfundingnews.com

With the help of this finance, Kvantify will be able to maintain its position as the industry leader in quantum computing while concentrating primarily on creating applications for the health sciences. The investment will hasten the development of novel approaches that use quantum computing to address challenging issues in the discovery of drugs and other fields. It will also encourage the advancement of quantum computing techniques for chemical simulations, increasing their industry-wide application.

The Company's Concept

In 2022, Nikolaj Zinner, Hans Henrik Knudsen, and Allan Grønlund launched Kvantify intending to enable enterprises without specialized skills to leverage the revolutionary power of HPC and quantum computing. Acknowledging the potential of new technologies to address intricate problems that go beyond the capability of traditional computers, they put together a team of highly skilled specialists in cloud computing, chemistry, mathematics, and physics to meet their challenging objectives.

What Operates the Business?

Kvantify uses high-performance computing and quantum technology to develop ground-breaking answers to challenging problems in science and industry. Its goal is to eventually make quantum computing technology broadly available and a useful tool for companies all around the world.

Investor Opinion

Quantum computing can provide accuracy and derisking to the early stages of drug development, enabling speedier speed to market, according to Jacob Falck Hansen, a partner at Lundbeckfonden BioCapital. We are thrilled to collaborate with Kvantify to bring medicine development and quantum computing together. Dreamcraft General Partner Carsten Salling continued, saying,

We are excited to work with Kvantify to bridge quantum computing and drug development.” Carsten Salling, General Partner at Dreamcraft, added, “We cannot wait to see how Kvantify will help solve today’s seemingly impossible problems.” Marco Stutz, Partner at Redstone, noted, “Kvantify’s interdisciplinary team and innovative approach are perfectly placed to bring tremendous value to commercial markets.”

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About Kvantify

Kvantify’s tactical emphasis on using quantum computing for the life sciences, a field where advances in computing can significantly enhance outcomes, shows great promise. It is well-positioned to make significant contributions thanks to its solid financial backing from reliable investors and a knowledgeable founding team. The startup’s goal to democratize complicated computing technology is in line with current movements toward making quantum computing more widely available and useful.

 
Quantum Computing

How Benioff Paul’s Quantum Computing Theory Formed The Foundation Of Quantum Computers?

Quantum computing brings new spectacles that changed many things about conventional computing. No doubt, traditional computing is efficient. But a large data handling using classical computers that utilizes conventional computing might fail. However, a quantum computer could perform such a complex computation. In the 20th century, Quantum computing was a rising field for research. That time, Paul Benioff helped with his research in quantum information theory. Also, it proved the theoretical possibility of a quantum computer. In fact, he introduced the world for the first time that computers could operate as per the law of quantum mechanics.

Paul
Benioff’s Journey

Paul Benioff is an American physicist, well known for his research in quantum computing. In 1970, he started research on the non-classical method of computation. In a short duration, he proposed the theoretical feasibility of quantum computing. Other than this, he researched various fields of chemistry, physics, and mathematics.

Image Source: Google Images

Early
life

Paul
Benioff was born in Pasadena in California on May 1, 1930. Paul’s
father was a seismology professor at the California Institute of
Technology. Also, his mother was English graduated at that time.
Apparently, the well-educated family background must be helpful to
developed interest in science.

Education

For
an undergraduate degree in Botany, Benioff attended the University of
California, Berkeley. In 1951, he completed his under-graduation
course. After that, he worked for TracerLab in the field of nuclear
chemistry. In 1959, after returning to Berkeley Paul obtained a Ph.D.
in nuclear chemistry.

Career

Paul
starts his career as a post-doctoral fellow at the Weizmann Institute
of Science. He completed that internship in 1960. After that, he
worked for six months as a Ford fellow at Niels Bohr Institute. It
was the well-known institute of that period. In 1961, he grabbed the
chance to work at Argonne National Lab. In fact, he worked there
until 1995. During 1961-1978, he worked in the chemistry division.
However, after 1978 he changed his division to Environmental impact
Division.

Apart
from that, he was a visiting professor at Tel Aviv University in
1979. He taught the quantum mechanics foundation which was his
research topic. Also, he worked as a visiting scientist for two years
at CNRS Marseilles.

Research
in Quantum Computing

In the 1970s, he began research in the non-conventional computing method, i.e., Quantum computing. In the early stages, he presented several research papers in this field. Later, he published a complete description of Turing Machines’ quantum mechanical model in 1980. This model was based on Charles H. Bennett’s reversible Turing machine. However, Paul Benioff’s theoretical presentation on the quantum computer was efficient enough to eliminate the dissipation of excessive energy.

At the same time, it was reversible. In fact, his research paper was first that showed reversible quantum computing is theoretically possible. Based on his research, many other scientists discover the field of quantum computing. Surely, Benioff formed the foundation for quantum computing.

How
Benioff’s research set the foundation for quantum computers?

In
1982, he published a revised paper on quantum mechanical Turing
machines. Based on this, Richard Feynman developed a universal
quantum simulator. Furthermore, based on Benioff and Feynman’s
research, other scientist Deutsch showed the power of quantum
computers. He proposed that with quantum computers, computational
problems can be solved faster. Because the classic computer was not
effective in handling large numbers.

Quantum
computing- Centre of Attraction

Benioff continued his research and published many papers. Also, several other researchers followed his research and came up with new discoveries in the field of quantum computing. Soon, quantum computing became the topic of attraction. The industrial sector, banking sector as well as government agencies kept a constant eye on this field. In fact, this field became an attraction for many other scientists. Presently, quantum computing is a fast-growing research sector that offers applications in cybersecurity, cryptography and many other fields.

Other
researches of Paul Benioff

Other
than quantum computing, he researched nuclear reaction theory. Also,
he conducted research to show the relationship between physics and
mathematics foundation. In fact, Benioff continues research in
physics after retirement.

Later
Success

Benioff
honored with many prestigious awards. Includes, Quantum communication
award for the International organization in 2000. Also, he awarded
with Quantum computing and communication prize from Tamagawa
University, Japan. In 2001, he honored with Special University of
Chicago medal for his extraordinary performance at Argonne National
Lab. Furthermore, Argonne Lab held a conference in Benioff’s honor
for his work in quantum computing.

Today, his contribution to quantum computing enables the field of research for quantum mechanical models, quantum robots, and other quantum computing topics.