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memQ Announces Series A Funding to Drive Extensible Quantum Networking

globenewswire.com
NVDA While not directly mentioned, NVIDIA's GPUs are crucial for high-performance computing and AI, which are foundational to the development and operation of quantum computing systems discussed in the article. The article highlights the need for advanced computing power to drive quantum networking and distributed quantum computing, areas where NVIDIA's technology plays a supporting role. IBM IBM is a major player in quantum computing research and development. The article discusses the potential of quantum networking and distributed quantum computing, fields where IBM has significant ongoing projects and investments. The advancements described by memQ could potentially integrate with or complement IBM's quantum computing efforts. GOOG Alphabet (Google) is actively involved in quantum computing research, including quantum algorithms and hardware development. The article's focus on quantum networking and distributed quantum computing aligns with areas of interest for Google, as these technologies are key to unlocking the full potential of quantum computation for complex problems. MSFT Microsoft is investing heavily in quantum computing, with a focus on quantum software and algorithms. The article's discussion of quantum networking and distributed quantum computing is relevant to Microsoft's strategy, as enabling interconnected quantum systems is crucial for realizing the benefits of quantum computing for cloud-based services and complex computations. QCOM Qualcomm, known for its mobile technology, is also exploring applications in advanced computing, including quantum. While not directly mentioned, the development of chip-scale technology for quantum networking, as highlighted by memQ, could intersect with Qualcomm's expertise in integrated circuits and communication technologies. INTC Intel is involved in various aspects of advanced computing, including research into quantum computing hardware and related technologies. The article's emphasis on chip-scale solutions for quantum networking aligns with Intel's focus on developing integrated photonic technologies and advanced semiconductor manufacturing processes. AMAT Applied Materials provides manufacturing equipment and services for the semiconductor industry, which is foundational for developing advanced computing technologies, including quantum. The article's mention of commercial fab processes for quantum networking suggests a potential indirect link to companies like Applied Materials that enable such manufacturing. LRCX Lam Research is a key supplier of wafer fabrication equipment and services. The article's reference to 'commercial fab processes' for quantum networking implies a reliance on advanced manufacturing infrastructure, where Lam Research plays a significant role in enabling the production of complex integrated circuits. MU Micron Technology is a major producer of memory and storage solutions. While the article focuses on quantum networking, the underlying infrastructure for distributed quantum computing and data processing will require advanced memory and storage capabilities, areas where Micron is a leader. AMD AMD is a competitor to NVIDIA in high-performance computing and AI processors. The development of quantum computing, as discussed in the article, relies on powerful classical computing infrastructure for control, simulation, and data handling, areas where AMD's CPUs and GPUs are relevant. SPCE While Virgin Galactic is primarily in the space tourism industry, its parent company, Virgin Group, has shown interest in various technology sectors. The article's focus on cutting-edge quantum technology and its potential market growth could align with broader investment interests of diversified conglomerates that may include Virgin Group. ATOM Atom Computing is explicitly mentioned as a collaborator, with its CEO stating that memQ's technology could be central to scaling quantum computers. This indicates a strong positive outlook and potential for synergistic growth between the two companies in the quantum computing space.

memQ Announces Series A Funding to Drive Extensible Quantum Networking Chicago, IL, March 31, 2026 (GLOBE NEWSWIRE) -- memQ™, the industry leader in quantum networking solutions for distributed quantum computing, announced today the closing of its $10M Series A round of financing. The round was co-led by Quantonation and Ocean Azul Partners, with syndicate participation from both existing and new investors.

Quantum computing is the next major shift in computing, forecasted to become a $100B market by 2035 according to McKinsey & Company; in that the quantum communications subsector alone is projected to reach up to $15B. Key workloads include quantum secure networking, distributed quantum computing, blind quantum computing, and quantum sensing. Each of these are expected to require the ability to network quantum-capable systems across a range of distances, and potentially across varied quantum computer architectures and qubit modalities.

“Quantonation was the industry’s first venture fund dedicated to quantum technologies and deep physics, recognizing the potential for quantum systems to transform our use of information,” stated Christophe Jurczak, founding partner at Quantonation.“We see in memQ the potential to unlock and accelerate the power of quantum across our entire portfolio, as well as the industry at large – and to be a clear industry leader in that process.”

The memQ xQNA portfolio provides the core components needed to network quantum systems together for modular growth, unlimited scale, and real-world use cases such as scale-out configurations, cooperative processing, and blind cloud quantum computing – all using dense and efficient chip-scale technology. The company’s quantum network interface controllers (QNICs) allow various types of quantum computers to join a network without collapsing the quantum state; the quantum memory modules (QMMs) provide stable quantum memories for centralized entanglement operations; the quantum control system (QCS) orchestrates qubit and entanglement operations across a distributed network with atomic precision; and the distributed quantum compiler (xDQC) distributes workloads across the network based upon optimum resource allocation for maximum performance.

“memQ’s breakthrough technology addresses a key issue facing today’s quantum computers: the inability to work together over classical networks; this blocks them from leveraging the type of modular scale-out configurations that are key to today’s HPC and supercomputer systems,” stated Charles Foley, Chairman and CEO of memQ. “Our end-to-end architecture provides qubit-agnostic connectivity and control of connected quantum systems over standard optical telecom links, using chip-scale solutions that are efficient, powerful, and straightforward to integrate.”

"Photonic integrated control circuits are a key enabler of the utility-scale, networked quantum systems we're building at Atom Computing. memQ is making meaningful progress on technologies that could be central to scaling quantum computers, and we look forward to collaborating with their team to accelerate that vision," said Dr. Ben Bloom, CEO and Founder, Atom Computing.

Industry analyst firm Global Quantum Intelligence (GQI) was among the first of the market research firms to analyze memQ’s technology, which was included in an industry diligence report published in December 2024. “At GQI, we monitor the evolution and development of the quantum industry as a whole – from science, to technology, to products, and eventually to business models. memQ’s approach to developing an extensible quantum network architecture based upon commercial fab processes and platforms is a leading approach to delivering quantum networking at scale,” reported Andre Konig, CEO of Global Quantum Intelligence. “Capabilities such as this will be prerequisite to quantum computing attaining its full promise.”

About memQ™

Founded in 2021 as a technology spin-out from the University of Chicago, memQ is dedicated to enabling the scalable implementation of quantum computing through standards-based connectivity across optical connections between quantum computers anywhere. The company’s portfolio provides secure connectivity and control across local, campus, metro, and wide-area quantum compute resources with high-fidelity and low-loss, regardless of qubit structures employed. More information is available at www.memq.tech.