6 Quantum Computing Companies to watch in 2023

6 Quantum Computing Companies To Watch In 2023

We highlight six companies that are focused on amazing quantum innovation. There are simply too many companies to write about, so we chose just six for a variety of reasons from merger targets to their push to drive the application layer of quantum computing.

Xanadu – Full stack Quantum Computing from Canada

We love full-stack systems. Xanadu is a quantum company that can handle everything from photonic hardware to developing frameworks for QML or Quantum Machine Learning. Xanadu is very popular amongst quantum developers and well known for its two frameworks: PennyLane and Strawberry Fields (we love the Beatles theme). Xanadu has also been our company of the day.

Xanadu’s quantum computers are based on photonic quantum computing, which uses light to encode and process quantum information. Photonic quantum computers may have several advantages over other quantum computers and technology.

We still think it’s too early to decide which technologies can win out. Still, we surmise that fully integrated quantum companies will have the most significant chance of success, with a focus on applications and Quantum Machine Learning.

Xanadu has an impressive roster of talent, including well-known researchers (Maria Schuld) and developers, in addition to a very well-respected CEO & founder. Talent is one of the other reasons we think Xanadu will continue to shine throughout 2023 and beyond. The company has an impressive outreach programme that pushes participants towards quantum applications with Qhack.

Why: Focussed on Applications, QML and Full Stack Quantum, Potential to go Public

Xanadu’s mission is to build quantum computers that are useful and available to people everywhere

IBM – Shooting for over 1,000 qubits in 2023

Big Blue is no sleeping giant when it comes down to quantum developments. The (still) mainframe developer has recently announced that it has created a device with 433 qubits. The world-beating number of qubits is a way-point on the IBM quantum roadmap. However, there is more to come. Expect more from the company regarding qubit count and more machines coming online to the cloud in 2023. According to IBM’s roadmap, IBM machines should be sporting over 1,000 qubits in 2023.

It isn’t just qubit count, but the language from the IBM stable: Qiskit, goes from strength to strength. Qiskit is one of the most popular languages for programming quantum computers, and we don’t see that changing in 2023. Qiskit is becoming the C of the quantum world. There are plenty of tools, and tutorials for learners to get on board with Quantum Computers, and an IBM machine controlled by Qiskit will be the entry point for most people getting started with Quantum computing in 2023.

Why: Increasing the headline number of qubits (hopefully) to over 1,000 in 2023.

Riverlane – Building a Quantum Operating System

The Cambridge-based company is busy building out some of the tricky elements of the quantum stack. It does fundamental work on quantum error correction and control systems irrespective of the type of qubit. We love the drive to tackle the challenges that could unlock the power of quantum computing. As well as their desire to be the “Operating System” of Quantum Computers with their Deltaflow.OS.

Riverlane partners with quantum hardware companies, university labs, and industry bodies to advance quantum computer design, engineering, and benchmarking knowledge. They also work with industry partners in various sectors, including pharmaceuticals, climate science, advanced materials, and aerospace, to identify areas where quantum computing can drive significant progress.

It’s not enough to simply build quantum computers with more and better qubits. Unlocking the full spectrum of quantum computing application requires new hardware and software tools to control inherently unstable qubits and comprehensively correct system errors ten billion times or more per second.

Why: Focused on the complex challenges of the quantum stack, such as error correction. Possibly an acquisition or merger target.

SpinQ – Quantum Desktop Dreams

There are;t many companies advertising they can put a quantum computer on your desktop. But SpinQ will sell you one for a reasonable price of $5,000. SpinQ Technology is a Chinese start-up company based in Shenzhen, China. SpinQ focuses on quantum computing and aims to lead the world into a new quantum science era. It has also protected its innovations with patents. It hopes to do this by promoting the industrialization and popularization of Quantum computing.

We have included SpinQ because they fundamentally show that devices are “real”, “available” and affordable. Of course, as costs come down, we could see devices sporting higher counts of qubits. Anything that gets people excited about Quantum Computing is worth watching in our book.

Triangulum Is A Desktop Quantum Computer That Uses Nuclear Magnetic Resonance (Nmr) Technology And Has 3 Qubits. It Allows Users To Customize Quantum Circuits At The Hardware Level Through Pulse Sequence Engineering And External Port Programming.
Triangulum is a desktop quantum computer that uses nuclear magnetic resonance (NMR) technology and has three qubits. It allows users to customize quantum circuits at the hardware level through pulse sequence engineering and external port programming.

Triangulum is a 3 qubits desktop NMR quantum computer. It supports pulse sequence engineering at the hardware level. Users can customize quantum circuits on the equipment, and external port programming is allowed. Triangulum is a low cost, no maintenance, and stable equipment, which is good for quantum computing education and some simple scientific research.

Why: Showing that small quantum computers can live on the desktop and be accessible to almost anyone.

Quantinuum – Building the Quantum Commercial Pipeline

We love applications, quantum applications. We believe that the key to a company’s success will be the ability to deliver end-to-end in the quantum space. From providing hardware, middleware and the applications layer. Quantinuum is one of the largest pure-play quantum companies on the planet. It calls itself a “A Unique Full-stack Quantum Computing Company“. But in fact it does even more than that, because it is pushing the application space and we believe that quantum is looking for those killer applications and simply providing a “full-stack” is not enough.

The System Model H1, Powered by Honeywell, was the first quantum computer to pass IBM’s Quantum Volume benchmark with a measured Quantum Volume of 8192.

Early customers of the Quantum computing space will be impressed with the focus on solving real business challenges that Quantinuum has. Frankly, we need more of this focus on applications of Quantum. As you’d expect, the company has an impressive array of talent, which includes one of the leaders of QNLP (a form of quantum machine learning).

Quantinuum has already proven its value in the fields of cybersecurity, computational chemistry, compositional intelligence, machine learning, optimization and simulation. 

Why: Continuing to fly the flag of applications of quantum with toolsets and frameworks to support companies in finding advantage in quantum workflows.

OQC – Building Superconducting Circuits as A Sevice (QaaS)

Oxford quantum computing has pioneered the development of QaaS or Quantum as a Service as it is responsible for the most powerful quantum computer developed in the UK. The facility is the only commercial quantum computing laboratory in the UK. OQC designs superconducting circuits. Their innovative technology (Coaxmon) solves these challenges: it has a three-dimensional architecture that brings key componentry off-chip for vastly increased simplicity, flexibility, engineerability and scalability.

Dr Ilana Wisby is the CEO of OQC, a company whose core technology builds on the work of Dr Peter Leek, who developed the company’s core patent at the University of Oxford. Wisby obtained her PhD in quantum physics from Royal Holloway, University of London, and has worked with startups, building them from the ground up. She is also an advisor to the Quantum Metrology Institute and a member of the World Economic Forum’s Future Council on Quantum. Wisby is passionate about deep tech and is a champion for women in technology and leadership.

Why: Building UK homegrown superconducting devices and possible acquisition or merger target.


There are so many great quantum computing companies out there and we have more detailed profiles of quantum computing companies. Check out the list of 10 Quantum Companies from the UK and the list of 20 Quantum Companies from the UK.

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