Team Startupcity

• Monta Vista Capital leads oversubscribed seed round; total funding reaches $6.6M
• BQP partners with U.S. Air Force Research Lab under CRADA agreement
• BQPhy platform delivers 10X faster simulations using quantum-inspired algorithms

BQP, an early-stage startup that develops dual-use quantum-accelerated simulation software, has secured about $5 million in an over-subscribed seed capital raise. The funding will go towards its growth engine digital twin platform, BQPhy, into high-stakes industries such as aerospace, defense, and semiconductors.

The funding round is led by Monta Vista Capital and takes BQP's overall funding to $6.6 million. Some of the other prominent investors are New York Ventures (venture capital arm of Empire State Development), Arc Ventures, Armory Square Ventures, Emergent Ventures, Alumni Ventures, and returning investors such as Paradigm Shift Capital and the Griffiss Institute, among a group of angel investors.

This investment follows a significant milestone a Cooperative Research and Development Agreement (CRADA) with the U.S. Air Force Research Laboratory’s Aerospace Systems Directorate (AFRL/RQ). Through this collaboration, BQP is contributing to enhancing national defense capabilities using quantum-powered modeling and simulation.

BQP co-founder and CEO Abhishek Chopra remarked, 

Our quantum-inspired solvers are redefining the benchmarks in simulation technology. The strong interest from AFRL/RQ and key industry players is clear validation of the immediate value our platform is bringing to critical applications.

Launched in 2020 by Chopra, Jash Minocha, and Rut Lineswala, BQP (BosonQ Psi) is seeking to revolutionize the $22 billion international simulation industry. Its main product, BQPhy, is designed to run effortlessly on hybrid computing environments–from traditional CPUs and GPUs to novel quantum processors.

Though deployments today are on traditional systems, BQPhy's quantum-inspired probabilistic algorithms already outpace conventional solvers up to 10X. The firm also asserts that its future quantum-native solvers, which are in development, could provide up to 1000X gains when quantum hardware is more advanced.

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BQP's expanding customer base includes a Tier-I aerospace producer, three top aerospace and defense companies, ABB, the Indian Ministry of Heavy Industries, and high-profile government entities such as the U.S. Department of Defense and the Air Force Research Laboratory.

The company is already part of the worldwide quantum computing ecosystem, partnering with industry leaders like IBM, Intel, Classiq, Strangeworks, and NORDTECH Hub, keeping its platform interoperable with emerging quantum standards and tools.

Based in Syracuse, New York, with a technology center in Bengaluru, India, BQP intends to leverage the new funds for building up its R&D, furthering commercial uptake, and expanding its visibility in international industry circles.