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Samsung, in the united arab emirates, and funds, leading to $55 million investment in quantum computing startup

(Reuters) – the U.S. quantum computing startup, IonQ, said on Tuesday, raised $55 million in a funding round that was led by the venture funds supported by Samsung Electronics uk limited and the government of the United Arab Emirates (uae).

With the investment of the Samsung Catalyst Fund, the Mubadala Capital, Maryland, usa, on the basis of a IonQ, said its total funds raised to-date to reach $77 million. The company was not known for his appreciation.

The researchers believe quantum computers will be able to operate millions of times faster than today’s advanced supercomputers, allowing for the potential tasks, ranging from the assignment of complex molecular structures and chemical reactions on the strengthening of the power of artificial intelligence to be possible.

Alphabet, Inc., Google, International Business Machines Corp and Microsoft Corp all have to be either investments are made or initiated research projects in quantum computing.

IonQ has 4 quantum computers, each about the size of four regular refrigerator is that it works in the states of Maryland, and has the time to get them to universities and businesses.

Unlike some of its competitors, which is necessary in order to keep track of the environment in which the quantum computer is at absolute zero, IonQ, the computers in the room, said to be the Chief Executive Officer, and Peter Chapman.

Chapman said that most of the IonQ to the quantum computer the parts are readily available off-the-shelf, which helps keep the cost down.

The high costs associated with the construction of quantum computers, along with the low-temperature environment in which they will be required to have a challenge in making them is a profitable business.

“I have a joke that Amazon provides the most complete set of spare parts for us,” said Chapman.

It’s a custom part of a IonQ-the machine is a special chip which is made by a third-party vendor. Chapman declined to name the supplier but said that the part was created using common chip-making technology.

Francis Ho, co-head of the Samsung Catalyst Fund, said the Phone, a huge chipmaker themselves are invested, in part because it hopes that one day it is possible to supply the components for quantum computers. But, Ho said, Samsung would also have big potential customer.

All Over the world, governments are worried about quantum computing, because it can be used to break the current encryption technology.

Chapman said that while the company has no substantial revenues, and there are the customers, and the countries will prevent them from doing business with the chinese.

Quantum computing has been a nation-state level. It really is in the USA compared to other countries, which are trying to leapfrog the U.S., and its technological domination,” said Chapman.

Report by Stephen Nellis in San Francisco; Editing by Subhranshu Sahu

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