Bloq Quantum Secures ₹1.3 Crore in Pre-Seed Funding Led by Inflection Point Ventures
Bloq Quantum Founders: Sreekuttan L S & Jay Patel
Bloq Quantum, an AI quantum software startup co-founded in 2024 by Sreekuttan L S and Jay Patel, has raised ₹1.3 crore in a pre-seed funding round led by Inflection Point Ventures (IPV). This funding will accelerate the company’s mission to simplify and expedite enterprise adoption of quantum computing with a user-friendly, low-code interface.
Bloq Quantum is designed to make quantum algorithm development 10 times faster, providing valuable business insights. It caters to both beginners and experts, ensuring a seamless transition into quantum computing for all users.
The new funds will be allocated towards product development and expanding the team. This investment will drive innovation in quantum algorithms, enhance platform capabilities, and stimulate growth.
Key Achievements:
- Third place in the 2023 Global Fujitsu Quantum Simulator Challenge ($100K prize pool).
- First place in the TCS Quantum Challenge 2023.
About the Founders:
- Sreekuttan L S, Co-Founder & CEO: With a strong physics background from IISER Pune and experience as a Product Manager at The Quantum Insider, Sreekuttan leads Bloq Quantum’s strategic vision.
- Jay Patel, Co-Founder & CTO: An expert in Computer Engineering and Quantum Machine Learning, honed at CERN, Jay has three global Quantum Challenge awards and multiple quantum software prototypes to his credit.
Mitesh Shah, Co-Founder of Inflection Point Ventures, commented, “Understanding quantum technology and its intricate algorithms is daunting and applying it effectively in business is even more challenging. Bloq Quantum’s USP lies in offering a platform where both beginners and experts can work on quantum algorithms with a user-friendly low-code interface, bringing satisfaction and business to its customers. We believe in Sreekuttan’s capabilities and the remarkable journey of the entire Bloq Quantum team.”
As of June 2024, Bloq Quantum operates globally, providing quantum computing solutions to clients worldwide, emphasizing its dedication to pioneering quantum computing innovations.
Sreekuttan L S, CEO of Bloq Quantum, stated, “Enterprises face challenges in adopting quantum computing due to fragmented and complex algorithm development processes. Bloq Quantum aims to streamline this by offering a comprehensive solution that simplifies the creation of quantum solutions, providing a seamless experience for businesses.”
The global quantum computing market was valued at USD 10.13 billion in 2022 and is forecasted to exceed USD 125 billion by 2030, growing at a robust CAGR of 36.89% from 2022 to 2030. This rapid growth signifies substantial potential for startups like Bloq Quantum in the quantum computing sector.
About Bloq Quantum:
Bloq Quantum drives enterprise quantum technology adoption with a user-friendly, low-code interface, accelerating quantum algorithm development by a factor of ten and delivering crucial business insights. It simplifies and expedites the journey into quantum computing for both novices and seasoned professionals.
About Inflection Point Ventures and Physis Capital:
Inflection Point Ventures (IPV) is an angel investing platform with over 17,000+ CXOs, HNIs, and professionals who collectively invest in startups. IPV supports new-age entrepreneurs by providing monetary and experiential capital and connecting them with a diverse group of investors. IPV recently launched a $50 million CAT 2 AIF, Physis Capital, to invest in pre-Series A to Series B growth-stage startups.