Although Quantum computing is still developing, many new startups are taking advantage of this technology to promote their businesses. Now, Aliro Technologies has built a code, which would make developing code quite easy for the quantum surroundings. The company is announcing its funding of $2.7 million in a new funding round.
Flybridge Capital Partners is leading the seed round. Other partners include Crosslink Ventures and Samsung NEXT’s Q Fund, a fund the investor launched a year ago, dedicated specifically to AI and quantum computing.
Aliro has arrived in the market at an interesting time. Vendors are continuously making new quantum hardware to make complex calculations, which the current binary machines can’t handle, like multi-variables forecasting or medicine discovery. However, the computers built today have many critical problems.
Recently, the main development that has occurred is that many startups have arrived in the market, which are addressing these critical problems. As an example, consider the fact that quantum machines made so far are quite prone to error for longer periods. However, a startup called Q-CTRL has made a firmware that is present on top of machines to identify errors and provides urgent fixes to delay crashes.
Aliro is targeting a specific issue that quantum hardware is quite fragmented. Every machine has its operational techniques and specific languages. It is a challenging situation for specialists. Therefore, developers face even more problems.
The CEO and chairperson of the company, Jim Ricotta, said in a recent statement, “Currently, we are in an early hardware stage, where there is no standardization for quantum computing. Those based on the same technology have different connectivity and qubits. It feels just like the digital computing of the 1940s. Software developers aren’t well versed with quantum circuits because it is a different computing style. Engaging with these isn’t the same as procedural languages. There is an on-ramp from classic computers to quantum computers.”
Although Aliro has announced the new funding round, it isn’t giving specific details regarding how the platform would work. However, the main idea is that the platform of Aliro will be an engine that facilitates developers to work in the languages they know and identify problems. After that, it would assess the developer’s code and provide a channel to put it into a quantum-ready language.
This development is quite interesting and we may see quantum computing develop soon. Currently, there are a handful of companies working on quantum computing. However, it is still questionable whether these machines would be widely used or just be present among smaller providers that will provide them, SaaS style. A model like this fits with how computing is sold today. It would also open the door for big tech names, like Google, Amazon, and Microsoft. All these tech giants are investing in AI. In fact, Google recently introduced Google’s SMILY.
All such assumptions are theoretical because some problems need to be fixed. However, progress is inevitable because there are predictions that quantum computing is going to be a $2.2 billion industry by 2025. Therefore, intermediaries like Aliro might play an important role.
“I have been working alongside Aliro for the past year. I am excited to help them make a company in Quantum Computing Software.” Said David Aronoff, who is the general partner at Flybridge, “They have a world-class executive team and a combination of leading Quantum researchers. This makes Aliro a formidable player in this industry.”
Ayaj Singh, a partner at the Samsung NEXT’s Q Fund, said, “At Samsung NEXT, we focus on how the world would look in the future. Prineha and her impressive team of researchers and their knowledge of quantum computing fascinated us. Aliro’s work is quite monumental. It would affect a wide range of things like chemistry, materials development or drug discovery. We are quite happy and excited to work with Aliro.”
