ColdQuanta joins IBM working group for quantum-computing startups, research

BOULDER — ColdQuanta Inc. has joined a consortium of businesses and academic researchers with the International Business Machines Corp. (NYSE: IBM) Quantum Network.

In a statement, the Boulder company said it will integrate its existing products within Qiskit, an open-source development platform sponsored by IBM that allows developers to build control systems for quantum-computing hardware.

The Quantum Network counts more than 140 entities spanning major corporations, startups and academic researchers to apply quantum computing to practical issues.

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The partnership will also allow developers to write build-to-suit programs for “Hilbert,” the working name for ColdQuanta’s first commercial product. Hilbert is a planned 100-qubit quantum computer expected to go on sale in the second half of 2021.

A qubit, or quantum bit, is the base unit of a quantum computer and comparable to a bit in a traditional computer. While a bit is a binary representation of data such as 1 or 0, or on or off, a quantum bit can represent any proportion of either end of the binary scale and process problems at a speed and scale considered nigh-impossible by traditional computing standards.

ColdQuanta’s “cold atom” method attempts to achieve stable qubit activity by freezing atoms to near-absolute zero, where they produce minimal vibrations.

The company most recently raised $20 million in bridge financing as it continues to build a Series B round that will likely pass more than $100 million in size.

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