The ventures arm of Merck pharmaceuticals have made a placement of $5m into Quantum Computing startup Seeqc Inc. The startup has raised over $11m including that from from M Ventures (the ventures arm of Merck).
Merck is interested in the promise of Quantum Computing for the development of materials and pharmaceuticals. Investing the the fledgling company, the pharma giant hopes to gain an advantage in simulating drugs which is one of the likely nearer term advantages of NISQ based quantum computers. Other companies around the planet are also looking at drug development as one of the first use-cases for near term quantum computers.
You can read more about the announcement here of the funding of Seeqc.
Seeqc is aiming to develop the first business ready digital quantum platforms. Combining classical and quantum computing in their chip design which uses a super-conducting multi-layer. The company emerged from Hypres which specialized in superconducting electronics. Seeqc is based in Elmsford, NY with offices in London, UK and Naples, Italy.
M Ventures (Merck)
M Ventures is the venture capital arm of Merck pharmaceuticals. M Ventures invests globally in business ideas driven by entrepreneurs.