infinityQ closes seed-extension round to bring their technology to commercialization – GlobeNewswire

MONTREAL, Feb. 03, 2022 (GLOBE NEWSWIRE) -- infinityQTechnology Inc. (https://www.infinityq.tech/), thecreator ofquantum analog computing, has announced the closing of their seed extension round with strategic investors, such as Hevella Capital, iGlobe Partners, and Westcott Investment Group,along with returning investors Cato Stonex and Louis Vachon. This will aid in the development of the next generation of their technology and bring applications to the market- which will beat least 100 timescomputationally faster than its predecessor,while improving its already ultra-low energy consumption by 10 times. The development of products based on their technology will bring speedup to different industries, starting with gaming.

We are very pleased to supportinfinityQon shaping tomorrow and on contributing to one of the most groundbreaking technologies of the future, says MarkusKreipl,Investment Manager atHevellaCapital. WithinfinityQsquantum analog computing technology, problems can be solved 100,000x faster and significant progress can be made in medicine, physics, chemistry, banking, gaming and many more. [...] Whereas the road to a classical programmable, fault-tolerant quantum computer is still long,infinityQsquantum analogtechnology is already up and running on its way to further increasequbitsto 5,000+soon.InApril 2021, the company announced thereveal of their independent cloud platform, infinityQube,focusing onoptimization problems. With new capabilities, including graph-based problems, the company is working on the commercialization of their solutions to the gaming industry. They will continue developing the nextgeneration of their chip, codenamed Cper, which will be designed to seamlessly integrate with systems to solve complex problems with an increased computational speed up. We are incredibly excited to back a world classwomen-led team that is going to be a pioneer incommercializingquantum[speed-up]not tomorrowbut today, said Court Westcott, MP at Westcott Investment Group.

Based on infinityQs novel approach using the superposition of states to explore the whole space of solutions at once, they can solve computationally intensive problems such as world generation in your favorite video games.

The closing of thisseed extension round shows promise for the young startup in the Quebec ecosystem.Since June 2020,the2-year-oldcompany has raisednearly $5mn USD from investors spanningtheglobe from the US to Singapore.infinityQ isnow focusing on its first commercial efforts. With the completion of this seed extension round, infinityQ will be able to go from prototypes to commercially available products that will allow users to significantly reduce the processing time required to solve complex computational problems and in some cases to even be able to solve currently unsolvable problems,says Ricardo Pascoe, Chairman at infinityQ. infinityQs quantum analog technology will revolutionize the world of classical, quantum and supercomputing.

Weincorporated our company in January 2020, just before the pandemicchanged ourentire lives. Now more than ever, we understand that the needfor computational speed up is crucial to making our communities more resilient to idiosyncraticevents. Our mission is to leave the world better than how we found it, so we will focus on going where thefirstneedisfor computational speed-up, notsolelywhere it canbenefit the bottom line, says Aurelie Helouis, CEO & Founder of infinityQ.

About infinityQ

infinityQ, a women-founded and engineered company, is the developer of quantum analog computing devices, based in Montreal, Canada. The company brings to market the computational speed promised by quantum computing, by re-imagining the analog paradigm. Leveraging the first of its kind technology, infinityQ is open to partnerships to utilize their cloud platform capabilities to tackle the most complex problems - from the gaming to pharmaceutical industries in due course. Its low power consumption saves clients over 100 times in energy costs and enables computational power for computationally intensive problems. For more information, visit https://www.infinityq.tech/ and follow us on social media @infinityqtech.

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infinityQ closes seed-extension round to bring their technology to commercialization - GlobeNewswire