Entropica Labs raises $4.7M in Series A funding

Singapore-based quantum software firm, Entropica Labs, has successfully secured a substantial $4.7M in a Series A funding round.

• Primary Investors: The funding round was spearheaded by Italian deep tech investor Liftt, with Wavemaker Partners, an existing backer, also contributing.

• Investors in Participation: Other participants encompass a diverse range of investors, such as Seeds Capital (Enterprise Singapore's investment division), California's CerraCap Ventures, SUTD Ventures, and Elev8.vc (Entropica's seed investors).

• Funding Goals: These funds are earmarked for team expansion in key areas, namely quantum error correction, software engineering, and computing architectures.

• Problem At Hand: Quantum computers possess the potential to address complex problems, unreachable by even the most powerful conventional supercomputers. However, these quantum computing systems have an Achilles heel – they are error-prone, with mistakes accumulating rapidly.

• Unique Offering: Entropica Labs is tackling this issue by developing software tools that enable quantum computers to identify and rectify errors during computation. This improves the reliability and scalability of information processing.

Tommaso Demarie, Entropica’s co-founder and CEO, underscored the growing need for sophisticated error correction schemes, as hardware firms continue to introduce increasingly advanced quantum computing systems.