SandboxAQ, a leader in enterprise quantitative AI solutions, has raised an additional $150 million in its Series E funding round, attracting investments from prominent technology firms including Google, Nvidia, and BNP Paribas. This infusion elevates the total Series E funding to $450 million and values the company at $5.75 billion.
Originally spun off from Alphabet in 2022, SandboxAQ specializes in developing Large Quantitative Models (LQMs) that leverage quantum computing techniques to analyze extensive numerical datasets and perform complex computations. These models have applications across various sectors, including drug discovery and financial modeling, and are accessible through platforms like Google Cloud.
CEO Jack Hidary highlighted the strategic importance of the new investments, stating, “We’ve proven ourselves from the first round in terms of delivering on our promises to a number of customers, and I think strategic investors were attracted to those breakthroughs.”
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The company, headquartered in Palo Alto with a workforce of approximately 200, plans to utilize the fresh capital to accelerate research and development efforts and expand partnerships in industries such as biopharmaceuticals, chemicals, and energy.
The participation of industry leaders like Google and Nvidia underscores the growing interest in quantum computing and its practical applications. Both companies have recently intensified their focus on quantum technologies, with Nvidia establishing a quantum research lab and Google unveiling a new generation of quantum chips.