Zapata Computing Inc. today announced that it has raised $38 million in Series B funding, up to a total of $64 million. This round was led by Comcast Ventures, Pintango, and Prelude Ventures. Other Series A investors were also involved. These include BASF Venture Capital, Robert Bosch Venture Capital, and The Engine Accelerator Fund. New investors that joined for the first time are Ahren Innovation Capital, Alumni Ventures Group, Honeywell Venture Capital, ITOCHU Corporation, and Merck Global Health Innovation Fund. The investors all have faith in Zapata’s promise to bolster efforts to commercialize quantum computing. Zapata also shows how much it has progressed since last year’s Series A funding.
Many representatives from the investors have only warm regards and encouragement for Zapata.
‘We’re excited to explore applications of quantum computing technologies within the life sciences space and believe Zapata will be an important innovator in this field and others.’Prem Tumkosit, Managing Director, Merck Global Health Innovation Fund
‘Zapata’s Orquestra makes quantum computing tangible and compatible with leading enterprises’ data analytics architectures. At ITOCHU, we look forward to developing the quantum computing ecosystem both in Japan and globally with Zapata.’Hiroshi Kajiwara, Chief Operation Officer, ICT Division, ITOCHU
‘As an investor, customer and licensed user of Orquestra, BASF’s relationship with Zapata lets us explore real quantum computing applications and build capabilities to help us compete in the quantum era—in materials and beyond.’Markus Solibieda, Managing Director, BASF Venture Capital
‘We’ve been intrigued by Zapata’s advances in the quantum algorithm space. Together with this strong group, we are excited to support Zapata to apply their Orquestra platform to accelerate progress toward disruptive quantum advantage.’Alice Newcombe-Ellis, Founding & Managing Partner, Ahren Innovation Capital
‘We’re proud to continue our investment in Zapata. With this funding, we aim to empower the team to deliver quantum-inspired business impact for the enterprise today, as well as enable quantum readiness for tomorrow. Zapata is positioned to play a central role in quantum computing’s rapid evolution.’Gil Beyda, Managing Director, Comcast Ventures
Other than launching Orquestra, the only quantum workflow management platform available right now, the company’s research continues to break into new frontiers and contribute to quantum hardware optimisation, benchmarking quantum applications, and advancing the quantum machine learning field. IBM, Honeywell, and IonQ are just three of the many partners Zapata works with to develop the hardware aspect of quantum computing technologies.
Zapata intends to use these funds for three goals:
Increase Adoption Rate of Quantum-Enabled Workflows for Data Analytics
Orquestra will improve data analytics performance, allowing companies to build their own quantum-enabled workflows. These can be executed in both quantum and classical systems before the data is collected and analysed.
Organisations will be able to use Zapata to generate augmented data sets through leveraging quantum capabilities, boost data analysis speeds, and construct better data models that are used in fields such as financial services, bio/pharmaceuticals, healthcare, logistics, materials science, telecommunications, aerospace, automotive, and more.
Scale the Zapata Team
Zapata intends to grow its science and engineering teams to support global customers as well as create new cutting-edge features and add-ons for Orquestra.
The research and solutions teams are already made up of various seasoned professionals in quantum computing. By expanding these teams, Zapata’s leadership in the quantum computing field will deepen, and reaching out to other global organisations to collaborate on developing quantum computing capabilities and practical applications will be easier.
Move Enterprise Customers Closer to Quantum Advantage
Zapata’s core mission of delivering quantum advantage for customers through real business use cases is still upheld and the new funding supports the mission immensely.
Machine learning is what Zapata believes the nearest-term quantum use cases lie in, and it will continue to work on critical optimisation and simulation projects.
About Zapata Computing
Zapata Computing Inc. is the pioneer quantum software, empowering teams to accelerate quantum development and capabilities. With the introduction of Orquestra, the first and only end-to-end, workflow-based toolset for quantum computing, Zapata is diving headfirst into the unexplored deeps that is quantum computing. Orquestra is a powerful toolset that allows a variety of complex quantum tasks to be run on hardware and software. Zapata works with many partners, many of whom are big names in the quantum and general technology industry, such as Google, Amazon, IBM, Rigetti, and more.