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KARLSRUHE, Germany, July 11, 2024 /PRNewswire/ -- Kipu Quantum, the worldwide leading quantum software company, announced today the strategic acquisition of PlanQK, the German quantum computing platform successfully built and commercialized by Anaqor AG. Along with its platform, key members of its team of experts joined Kipu Quantum to lead the way in making useful quantum computing accessible to organizations of all sizes, including industrial, academic, and governmental ones. This shrewd movefollows Kipu Quantum's successful 11.4million second closing of the seed funding round led by HV Capital and DTCF in late 2023.

The well-established and industry-recognized PlanQK platform with a constantly growing quantum ecosystem of more than 100 organizations enhances accessibility to quantum computing across various sectors, serving a broad range of users from leading companies such as BASF, DB Systel GmbH, T-LABS and TRUMPF.

The acquisition will drastically acceleratethe commercialization of Kipu's application- and hardware-specific algorithms, as services through the PlanQK platform, enabling frictionlessaccess fororganizations to integrate quantum solutions into their existing processes.

Combining their strengths, Kipu Quantum and the PlanQK team are set to greatly enhance quantum computing accessibility across various industries, including pharmaceuticals, chemicals, logistics, and finance, accelerating these sectors towards achieving quantum advantage.

Strategic Integration for Accelerated Growth

Kipu Quantum's CEO, Daniel Volz, stated, "Kipu Quantum's massively compressed algorithms enable the use of today's quantum processors across multiple industries to solve industrially sizedproblems, without waiting a decade for massive quantum computers. Our work with customers such as BASF, DLR, and MasOrangehas demonstrated that this is feasible. Making our world-leading algorithm services accessible through the PlanQK platform will make our capabilitiesavailable to a much wider audience."

MichaelFalkenthal, lead architect of the PlanQK platform stated, "By merging our deep technical expertise and strengths with Kipu Quantum, we aim to deliver unparalleled value and accelerate access to quantum computing capabilities sooner than anticipated. PlanQK will remain an open, community-driven platform, enhanced by our partnerships and research initiatives to support all quantum innovators. Together, we will facilitate seamless integration of quantum solutions into existing organizational processes, significantly broadening the reach and application of advanced quantum technologies."

Enrique Solano, co-founder andChief Visionary Officer of Kipu Quantum emphasized,"We are delighted to welcome the elite team of PlanQK, bolstering our capabilities. We share the mission to achieve a first demonstration of quantum advantage. We appreciate the unique qualities and talents our new colleagues bring to achieve this mission by 2026. Together, we are here to make history and make useful quantum computing as soon as possible."

Era of Useful Quantum Computing

Alexandra Beckstein, CEO and co-founder of QAI Ventures, whose Swiss-based accelerator program KIPU graduated in 2023, commented, "We highly appreciate the strategic move in acquiring the PlanQK platform.This confirms Kipu's commitment to the era of useful quantum computing and positions the company as a frontrunner. Their innovative methods will enhance the ability to deliver high-impact quantum solutions and drive significant advancements in complex real-life computational processes. We will continue to support their journey towards business-relevant quantum computing."

About Kipu

Kipu Quantum is a German company that operates at the intersection of quantum computer hardware and application software layers, developing disruptive application- and hardware-specific quantum algorithms for a wide range of industries. These algorithms are based on a one-of-a-kind compression technology that requires orders of magnitude less quantum processor resources to solve a given problem than comparable approaches. Kipu Quantum's technology has the potential to solve industry-relevant problems in the order of 1,000 physical qubits and is compatible with any leading quantum hardware. The company is currently testing its technology with customers in the pharmaceutical, chemical, logistics and financial industries.

About PlanQK

PlanQK is the first open community-powered platform and ecosystem for quantum applications, connecting developers, industrial users, researchers, and quantum hardware providers with a platform for the integration, deployment, development, and monetization of quantum services. With over 30 successfully tested use cases and more than 100 partners, PlanQK, is a pioneer in the field of quantum platforms. Initiated in 2019 and supported through a research grant by the German Federal Ministry of Economic Affairs and Climate Affairs it has been continuously developed in collaboration with leading universities and companies.

Press contact: Joanna Folberth [emailprotected] +49 1523 4621 156

http://www.kipu-quantum.com

http://www.planqk.de

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SOURCE Kipu Quantum GmbH

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Kipu Quantum Acquires Quantum Computing Platform Built by Anaqor AG to Accelerate Development of Industrially Relevant Quantum Solutions - PR Newswire