SG quantum computing startup Entropica Labs raises $1.8m seed round led by Elev8

Photo by Chris Ried on Unsplash

By Kristie Neo

May 11, 2020

Entropica Labs, a Singapore-based quantum computing software solutions startup, has raised $1.8 million (S$2.6 million) in seed funding led by Elev8, a deep tech venture capital firm. The round was joined by SGInnovate, Wavemaker Partners, Lim Teck Lee Group, Japanese software firm TIS Inc, V1 Capital and Entrepreneur First.

According to a statement, Entropica will use the fresh funding to expand its technical team and develop its proprietary software architecture based on quantum technology.

Entropica Labs was founded by Dr Tommaso Demarie, Dr Ewan Munro and Dr Joaquin Keller in 2018. It aims to develop software tools, methods and models to make quantum computing accessible and more mainstream. Its current focus is quantum optimisation and statistical learning to support enterprise customers in understanding and integrating quantum computing.

So far, Entropica has developed a software roadmap allowing developers and users to build and experiment quantum computing workflows on it. The deep tech firm has partnered with leading quantum hardware manufacturers such as Rigetti Computing, IBM and Microsoft to develop and test its software on their platforms.

“We are at the cusp of massive gains in technology, powered by quantum computing. Entropica Labs’ talented team is building the operating interface that allows programmers to work efficiently on quantum machines. We are excited to see the new scalable applications Entopica will unlock – from Artificial Intelligence to statistical modelling,” said Aditya Mathur, Managing Director at Elev8, in a statement.

Entropica Labs is a spinoff of Singapore’s Centre for Quantum Technologies at the National University of Singapore (NUS), where two of its co-founders, Demarie and Munro are alumni members. The founding team collectively have over 30 years of research and work experience in quantum and classical computing technologies.

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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