Entropica Labs secures US$ 4.7 million Series A funding to fuel software development and boost talent.
Singapore, November 7, 2023 — We are happy to announce that Entropica Labs has raised US$4.7 million in a Series A funding round led by Italian Deep Tech venture capital firm Liftt and existing investor Wavemaker Partners. Additional investors include SEEDS Capital, the investment arm of Enterprise Singapore; California-based CerraCap Ventures; SUTD Venture Holdings; and previous seed investors, Elev8 VC.
Entropica is a quantum software company building development tools for error correction and fault tolerance.
Quantum computers can potentially solve problems that remain intractable for even the most powerful conventional supercomputers. However, quantum computers are prone to errors, which can accumulate and erode these potential speed-ups. Drawing on years of hands-on research across multiple quantum computing modalities and platforms, Entropica Labs is tackling this fundamental challenge by building software development tools that empower users to design fault-tolerant versions of quantum circuits and algorithms.
“As hardware companies continue to unveil bigger and more advanced quantum computing systems, with some crossing significant computational thresholds, the need for sophisticated error correction schemes has never been greater. Years of working with real quantum systems have provided our Team with invaluable experience and insights into what’s needed to make quantum computers useful,” said Tommaso Demarie, Entropica Labs co-founder and CEO.
“This funding is a big step forward for Entropica, giving us even more momentum to realise our mission of providing practical error correction and fault-tolerance software solutions to the quantum industry.”
The fresh capital will be channelled into expanding the team, welcoming complementary expertise in quantum error correction, software engineering and computing architectures to fast-track software development. Entropica will also continue leveraging existing and future strategic partnerships with leading quantum hardware providers to enable rigorous testing of Entropica’s products on real quantum hardware.
“Entropica has shown impressive operational efficiency with a small but highly talented Team,” said Pierluigi Freni, Project Manager at Liftt, a first-time investor in the Company. “This is particularly compelling, given the complexity of their field and the competition for talents. This funding enables them to focus on solving the urgent challenges in quantum computing, staying both realistic and ambitious.”
Paul Santos, Managing Partner at Wavemaker Partners, which also supported Entropica in its Seed funding round, said, “We’re always looking to invest in quantum opportunities because it’s simply a matter of time before enterprise and government use cases become feasible. Despite massive funding raised in the industry, we can see that there is still enormous room to grow in terms of software development.”
“We need to make sure that quantum developers and users have the tools they need to take full advantage of quantum computers, and Entropica is building those tools. By investing in Entropica, we hope to empower the next generation of quantum developers and engineers.”
Per Aspera ad Quantum,
Per Quantum ad Astra!
About Entropica Labs — Founded in Singapore by Tommaso Demarie and Ewan Munro in 2018, Entropica’s thesis is that commercial, practical applications of quantum computers require fault-tolerant quantum error correction, i.e., the ability to actively remove errors from quantum computations. Entropica is a quantum computing software company driven by a mission to build software development tools to accelerate the arrival, and adoption, of useful quantum computers. To learn more about Entropica, visit www.entropicalabs.com.
About Liftt — LIFTT is an Italian Venture Capital chaired by the scientist-entrepreneur Stefano Buono. Operating in every industry with a focus on deep-tech, to date, it has completed 43 investments in innovative startups. While generating value for its shareholders, LIFTT supports the creation of businesses, development, employment, and economic growth, through the implementation of an ethical and transparent governance model. To learn more, please visit www.liftt.com.
About Wavemaker Partners — Wavemaker Partners is Southeast Asia’s leading venture capital firm investing in early-stage Enterprise/B2B, Deep Tech, and Sustainability startups. Since its establishment in Singapore in 2012, the firm has backed more than 190 companies across Southeast Asia, with total capital commitments exceeding US$300M and exits generating over US$1.8B in enterprise value. To learn more, visit https://wavemaker.vc/sea/.