Thursday, 1 August 2024, Bengaluru, India
Bloq Quantum is an artificial intelligence-powered quantum software startup that secured Rs 1.3 crore from Inflection Point Ventures in its pre-seed funding round. The funding round saw the participation of several new and existing investors. The startup plans to use this fresh capital to scale its operations, product development, increase its workforce, and business growth. The company will use some of this investment to improve its AI capabilities, quantum algorithms, and overall platform functionality.
The software startup provides a platform to simplify enterprise adoption of quantum computing with low-code requiring and user-friendly interface. The company currently works with various technical companies while offering its services to clients worldwide. The Kerala startup provides its services globally and offers quantum computing solutions. Bloq Quantum previously secured 95.8k USD in a funding round from its existing investors. The platform claims to make development 10 times faster and easier by providing algorithms for any use case with simple inputs. The application uses quantum insights to gain valuable business insights such as technical feasibility, potential use cases, and risk assessments. The startup allows users to run algorithms in any quantum hardware platform ensuring maximum flexibility and efficiency.
The company offers a platform that collects quantum insights and provides users with interactive, adaptive, and robust personalized quantum code. The platform uses advanced technologies and artificial intelligence to accelerate enterprise adoption and make quantum computing easier to use. The company provides solutions to enhance accessibility and improve user outcomes. The startup’s key offerings include BloqEnterprise, which is a bitcoin router platform with associated llibraries. BloqSuite, blockchain infrastructure software, and BloqThink which is a consulting service and architecting service prototype platform for enterprises.
The quantum software startup was founded by Sreekuttan L S & Jay Patel to make the adoption of quantum computing easier for enterprises. According to market research, the quantum computing sector is expected to grow at a CAGR of 36.89 percent and increase in market size. The global quantum computing market was valued at around $10.12 billion in 2022 and it is predicted to grow and reach 125 billion in the next six years. The development came just after the quantum software startup ecosystem saw increased interest from investors. The company faces competition from other startups in the same segment such as R3 and Solana.
Conclusion:
The AI-driven quantum computing startup Bloq Quantum secured Rs 1.3 crore in its pre-seed funding round led by Inflection Point Ventures with the participation of various new and existing investors. The startup intends to use these fresh proceeds to scale its operations, enhance its platform, and improve its platform and AI capability. The platform aims to make quantum computing easier with a low-code interface for enterprises. The company previously secured $95.8k in funding from its existing investors. The company provides three key offerings including BloqEnterprise, BloqThink, and BloqSuite. The quantum computing sector is predicted to increase and reach $125 billion by 2030.
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