Quantum Computing Startup Zapata Computing Raises $21 Million in Series A Financing
Quantum computing startup Zapata Computing today announced it has raised $21 million in Series A financing. Led by Comcast Ventures and Prelude Ventures, the round includes participation from new and existing investors Pitango Ventures, BASF Venture Capital, Robert Bosch Venture Capital, Pillar VC, and The Engine.
Since spinning out of Harvard University in 2017, Zapata has rapidly become an established player in quantum computing with an exceptional team of scientists. Zapata has emerged as a leading enterprise technology company focused on developing a powerful software platform and quantum algorithms to enable the next generation of discoveries — for a wide range of industries including chemistry, pharmaceuticals, logistics, finance and materials — on quantum computers.
The new financing will power our expansion strategy, enabling us to accelerate product development and expand our business into new markets and regions.
Zapata CEO, Christopher Savoie
“For our Series A, we looked specifically for world-class investors who bring a global reach and a depth of experience in enterprise software and applications,” said Christopher Savoie, CEO and cofounder of Zapata. “The success of Zapata’s quantum software platform in delivering real world advances in computational power for applications — particularly in chemistry, machine learning, and optimization — has sparked an enormous demand from Fortune 100 and Global 1000 enterprises worldwide. The new financing will power our expansion strategy, enabling us to accelerate product development and expand our business into new markets and regions.”
To date, the tech talent shortage in quantum science has been a critical bottleneck to the industry’s progress.
“The playbook for quantum computing is being written right now by first movers like Zapata,” said Alán Aspuru-Guzik, cofounder of Zapata. “As the enterprise demand for our quantum solutions continues unabated, Zapata has a distinct opportunity to aggressively and rapidly cultivate the next generation of quantum science talent who can transform the promise of quantum technology into reality.”
With growing customer demand, Zapata is developing powerful, hardware-agnostic solutions on the latest quantum hardware made by Google, IBM, Rigetti, Honeywell, IonQ and others. Zapata holds an exclusive license to a portfolio of quantum algorithms from Harvard University. Zapata is also a founding member of the Quantum Industry Coalition, an industry group instrumental in driving the bipartisan passage of the National Quantum Initiative in the United States.
Our team put together these posts to help people understand what we do.