A Star Quantum announced on November 2 that it has completed a Series A fundraising round for a total amount of 300 million Yen (=USD2.85 million).
The capital is raised by third-party allotment to the Creation of Value Fund Venture No. 2 Investment Limited Partnership forged between Abies Ventures, Dentsu Group, and NEC Capital Solutions among others; Mitsubishi UFJ Capital No. 7 Investment Limited Partnership; NBC Angel Fund No. 2 Investment Limited Partnership; and Plug and Play Japan as well as Plug and Play Tech Center in the United States.
At the same time, they formed a strategic alliance with Dentsu to combine their experience with quantum computing to optimize the placement and timing of TV advertisements as well as accelerate operations, with the ultimate aim of developing and running new marketing solutions.
A Star Quantum was founded in July 2018. The company conducts research and development to solve combinatorial optimization problems, with a focus on the fields of logistics and advertising. Quantum computers use quantum mechanics such as superposition and quantum entanglement and are believed to be able to solve large-scale problems that conventional computers cannot solve in any feasible amount of time. The company aims to contribute to the establishment of basic technology for quantum computing, establish technology related to both quantum gates and quantum annealing, develop software that can be used to add value to businesses, and become a pioneer in commercializing it.
Using the capital raised, the company intends to intensify its collaboration with joint research partners such as Dentsu which it formed a strategic alliance with, exploring opportunities in logistics, advertising, insurance, finance, and medicine, as well as its hiring of engineers and researchers.