November 01, 2024 -- QunaSys, Inc. (Headquarters: Tokyo, Japan; CEO: Tennin Yan), a leader in quantum computing algorithms and software development, has successfully raised JPY 1.7 billion in Series B2 funding. The round was led by ­Mirai Creation Fund III managed by SPARX Asset Management Co., Ltd. (Headquarters: Tokyo, Japan; President & CEO: Shuhei Abe), with additional participation from funds managed or co-managed by JIC Venture Growth Investments (VGF I), Fujitsu Ventures (Fujitsu Ventures Fund LLC), Mitsubishi Electric (ME Innovation Fund), Osaka University Venture Capital (OUVC No.2 Fund), KDDI (KDDI Open Innovation Fund III), and Kyocera (KVIF-I), and Zeon. QunaSys has signed a new JPY 500 million commitment line agreement with Sumitomo Mitsui Banking Corporation, and has agreed with KDDI and Kyocera to pursue capital and business partnerships alongside this fundraising.

Background and Recent Business Progress

Since 2019, growing interest from both governments and industries worldwide has fueled a surge in quantum computing investments, resulting in significant progress in the research and development for practical application of quantum computers, particularly in material development simulations. Since 2023, notable advancements in error correction technologies by global players brought the vision of practical quantum computing closer to reality, marking a major turning point for the quantum computing industry.

Since raising capital in 2022 and 2023, QunaSys has continued to drive innovation in industrial applications for quantum computing. Through collaborations with leading companies and institutions such as Fujitsu and Mitsubishi Electric, we have developed a new approach in quantum chemistry calculation (Quantum-Selected Configuration Interaction) aimed at the early practical use of quantum computers, and are pioneering new applications in preparation for the era of fault-tolerant quantum computing such as in CAE (Computer-Aided Engineering).

In November 2022, we launched QURI Parts, an efficient, modular open-source quantum computing library for algorithm developers and researchers. In October 2024, we released QURI SDK, a tool designed to help drive research and development to prepare for the arrival of fault-tolerant quantum computers. QunaSys is also working with AIST (National Institute of Advanced Industrial Science and Technology) and other institutions to build quantum computing environments. Through joint research with Osaka University’s Fujii Lab, we have developed a unique error-correction architecture.

To lay the groundwork for materials innovation using quantum computers, we have been working with Zeon to build a data management system for materials development. We are also leveraging large language models (LLMs) to transform R&D environments.

In May 2023, our proposal was selected for Japan’s Photonics and Quantum Leap Flagship Program (Q-LEAP), and in October 2023, for the Strategic Innovation Program (SIP), contributing to key policy initiatives including developing quantum talent and setting standard quantum algorithm performance metrics. In October 2023, QunaSys established a new office in Denmark to expand our customer base and application areas across Europe.

Going Forward

As the quantum industry approaches a critical juncture on the path to realizing fault-tolerant quantum computing, QunaSys views this as an opportunity for significant growth. We plan to use the capital raised to accelerate our business both in Japan and internationally. Under our vision “Maximize the Power of Quantum Computing”, we will continue working with end-user companies and partners to explore new application areas, develop practical technologies, and build the foundational technologies needed to fully unlock the power of quantum computing.