Governments, organisations and members of the financial ecosystem are all focusing on harnessing quantum technology to strengthen information and data security. One company operating in this field is Switzerland-based Terra Quantum.
The company that provides Quantum-as-a-Service in the areas of algorithms, computing and security, announced on Thursday that it has onboarded Investcorp as a new investor. The investment amount remains undisclosed.
Founded in 1982, Investcorp is a global investment manager that specialises in alternative investments in private equity, real estate, credit, absolute return methods, GP stakes, infrastructure, and asset management for insurance companies. The firm has $50B in AUM.
Gilbert Kamieniecky, Head of Global Tech at Investcorp, says, “Terra Quantum is highly relevant to many of our current and future high-growth portfolio companies, and we have seen full alignment on our core values: having integrity and being performance-driven, collaborative, entrepreneurial and global.”
Investcorp will help Terra Quantum to expand the commercialisation of its products.
Leading the quantum revolution
Founded in 2018 by Markus Pflitsch, Terra Quantum aims to bridge the gap between classic computing and quantum technology through its hybrid approach. It wants to help users achieve a quantum advantage for their processes and business performance enhancements.
The company offers an end-to-end solution for quantum security and quantum cryptography, enabling its clients to use efficient and secure high-bandwidth Quantum Key Distribution (QKD) over long distances. Using this in-depth knowledge, quantum resistant blockchain and crypto algorithms are being developed.
Terra Quantum claims that its technology provides meaningful solutions to a variety of industries, including aerospace, financial services, automotive, chemicals, utilities, and healthcare.
Terra Quantum offers “Quantum-as-a-Service” (QaaS) in three core areas:
- Quantum Algorithms as a Service: Users get access to a large collection of algorithms, including hybrid quantum optimisation and hybrid quantum neural networks, which can be used to solve challenging logistical issues or recognise patterns. Additionally, the company creates new quantum algorithms for its clients or modifies already-existing ones to suit their unique requirements.
- Quantum Computing as a Service: While simultaneously creating native quantum processing units (QPUs), Terra Quantum provides clients with its high-performance simulated QPUs. This offers enterprises and researchers access to quantum computing capabilities via the cloud, so they can run algorithms remotely.
- Quantum Security as a Service: Through this service, Terra Quantum offers its unique solutions for secure quantum and post-quantum communications worldwide.
Founder Markus Pflitsch says, “This is an important step for Terra Quantum, as we not only demonstrate ‘Private Equity’-readiness but also signal that same readiness to the broader quantum technology market. Many companies are currently struggling to find investors, but we are dedicated to drive the quantum ecosystem.”
