Arctic Instruments raises EUR 2.35 million for developing next-generation amplifiers for quantum computers
Finnish startup Arctic Instruments, a spinout of VTT Technical Research Centre of Finland, is looking to scale up the development and production of superconducting microwave amplifiers that enable the construction of bigger and better quantum computers.
Arctic Instruments, a spinout of VTT Technical Research Centre of Finland, has raised EUR 2.35 million in funding for the research, development and commercialisation of its superconducting microwave amplifier technology. The round was led by Lifeline Ventures, one of Finland’s biggest VCs. Lifeline is known for identifying and supporting potential category leaders in their early stages.
The company’s ability to manufacture near-quantum-limited amplifiers consistently and in volume is critical for enabling the construction of large-scale quantum computers with accurate qubit state readout.
Arctic Instruments is the only manufacturer already capable of supplying thousands of amplifiers of the required quality and consistency.
Quantum computers with more qubits and higher-quality operations have higher performance, allowing them to solve more complex and real-world problems across multiple industries.
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According to McKinsey, chemicals, life sciences, finance, and mobility are likely to be at the forefront of quantum impact and could gain as much as $2 trillion by 2035, however, getting there won’t be possible without significant scale-up of quantum computers - more qubits means more computing power.
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The founding team of Arctic Instruments consists of seasoned scientists with ample experience in superconducting circuit research. The company is a spinoff of VTT Technical Research Centre of Finland, a state-owned research and development organization.
The company’s amplifiers were developed as part of VTT’s research. Bringing about the quantum leap is one of the multi-disciplinary research organisation’s targets as it strives for a positive impact on our lives and the planet.
"We have reached a level of maturity where our capability to fabricate and test our amplifiers in volume is industry leading. In the bigger picture, the development of quantum computers remains very much a challenge, and their potential applications also remain an active topic of research", says Joonas Govenius, CEO and Co-founder of Arctic Instruments.
Add, What is clear is the need to scale up, without compromising the quality of any of the critical components. We contribute to this effort by constantly improving both the quality and consistency of our near-quantum-limited amplifiers, which are key to accurate qubit state measurements. The dedicated company and funding we now have allows us to boost our development efforts significantly".
Meanwhile, Timo Ahopelto, founding partner at Lifeline Ventures, said: "Arctic Instruments is a competent team that has been able to create a product that solves one of quantum computing’s most critical challenges. The product is based on several years of research. It is very difficult to produce a component that is accurate and reliable at the same time, and works today".
"VTT has invested in the research and development of superconducting and quantum technologies for several decades. Our goal is to make these results available to companies, and spin-off companies are one important way to do this. Arctic Instruments is a great example of how results of long-term top research are commercialized and scaled up into a global business", says Tauno Vähä-Heikkilä, Vice President, Microelectronics and Quantum Technology.
Source: VTT