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Nanofiber Quantum Technologies Secures $8.5m in Funding for Advancing Quantum Computing

Nanofiber Quantum Technologies Inc. (NanoQT) has successfully raised $8.5 million in a recent fundraising round, with backing from global venture capital firms. The round was supported by Phoenix Venture Partners (PvP) from the US and Japan’s JAFCO Group Co Ltd, SPARX Group Co Ltd, Keio Innovation Initiative, Inc. (KII), and Waseda University Ventures (WUV), who provided funding through convertible notes.

Established in 2022, NanoQT is a specialist in fiber-connectable quantum computing hardware, specifically nanofiber cavity Quantum Electrodynamics (QED) technology. This innovative approach, which differs from traditional superconducting circuits and ion traps, is the result of over a decade of research led by Professor Takao Aoki from Waseda University, who is also a co-founder of NanoQT.

At the core of NanoQT’s groundbreaking work is its proprietary quantum processing unit (QPU), which utilizes neutral atoms and photons as qubits. These qubits play a crucial role in processing and storing quantum data, as well as facilitating communication with other QPUs.

NanoQT’s interconnected QPUs are known for their modularity and scalability, making them an ideal platform for distributed quantum computing and various quantum network applications.

Dr. Akihisa Goban, CTO of NanoQT, highlighted the company’s success in overcoming challenges associated with the cavity QED platform. Regarding the funding, Dr. Masashi Hirose, CEO of NanoQT, stated that the funds would primarily be used to develop a unique QPU for quantum repeaters, a technology that currently has no equal in the market.

This investment marks PvP’s first venture into supporting a startup originating from Japan. Dr. Nobi Kambe, General Partner of PvP, commended NanoQT’s pioneering role in quantum hardware. Keisuke Miyoshi, President and CEO of JAFCO, expressed confidence in NanoQT’s leadership, while Takaki Demichi from SPARX acknowledged NanoQT’s innovative solution to the long-standing issue of quantum computer connectivity.

Other investors, including Naoji Nomura from KII and Dr. Hiroaki Ohta from WUV, praised NanoQT’s remarkable potential and growth trajectory, highlighting the startup’s collaborations, strong R&D team, and intellectual property.

With the recent funding, NanoQT plans to accelerate its research and development efforts, hire experts from the US and Japan, and strengthen partnerships with academic institutions and corporations. By bridging the gap between Japan and the US with state-of-the-art technology, NanoQT aims to redefine global cooperation in the field of quantum computing.

About NanoQT: Headquartered in Tokyo, Japan, with a presence in California, US, NanoQT specializes in developing quantum processing units (QPU) using their nanofiber cavity Quantum Electrodynamics (QED) system. Their focus is on innovation in the quantum repeater and distributed computational sectors.

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