December 16, 2024 -- BosonQ Psi (BQP), a pioneer in quantum-inspired simulation technology, announced the successful closure of a $3+ million Seed-I funding round, taking the total funding to $4.7Mn. The investment was led by Monta Vista Capital, with participation from Emergent Ventures, Armory Square Ventures, Alumni Ventures, and Paradigm Shift Capital.

BQP addresses a critical challenge in the $22 billion simulation market, where innovation in mission-critical industries such as Aerospace & Defence, Semiconductor, and Energy has stagnated due to outdated simulation technology.

The company's proprietary BQPhy© platform leverages quantum-inspired algorithms to accelerate advanced simulations by 10X on current high-performance computing systems, with the potential to achieve 1000X acceleration on quantum computers.

"This funding will fuel our expansion in the US and global markets, particularly within the Aerospace & Defence and Semiconductor sectors," said Abhishek Chopra, Founder and CEO of BosonQ Psi. "We're excited to scale our team and tackle the significant growth we're experiencing with ongoing and upcoming pilots."

Key achievements over the past 12 months include:

i.    Successful paid pilot with a Tier-1 Aerospace manufacturer using BQPhy's Quantum-Inspired Evolutionary Optimization (QIEO) solver

ii.    Demonstrations of QIEO with IAI North America, ABB, and India’s Ministry of Heavy Industries

iii.    Showcasing quantum-native physics-based and data-driven solvers for CFD and Computer Vision applications

iv.    Partnership with AFRL/RI under a CRADA to explore quantum computing-based digital engineering opportunities within the DoD

We were impressed with BosonQ Psi's breakthrough, innovative approach to simulation technology. It represents the real potential to significantly accelerate product development cycles in critical industries and yield dramatic cost savings in product development and design performance," said Roger Krakoff, Managing Partner at Monta Vista Capital. We're thrilled to lead this investment and support the team in their mission to transform the simulation landscape."