Universities and CSIRO-backed early-stage venture firm Uniseed has invested $3 million in a quantum technology company spun out of research at the University of Queensland (UQ).
Analog Quantum Circuits (AQC) is developing key microwave electronics components required to scale up quantum computing. The technology will potentially serve the needs of quantum computing projects around the world.
Uniseed CEO Dr Peter Devine said: “This investment highlights Uniseed’s ability to properly fund early-stage deep technology inventions and commercialise innovations from our Australian research partners.”
AQC was founded by UQ researchers Professor Tom Stace and Associate Professor Arkady Federov.
Stace, the company’s chief executive, said: “AQC develops core microwave technologies for superconducting quantum computing, one of the most promising platforms being pursued globally. We are very pleased to be partnering with Uniseed to bring this to market.”
AQC’s technology builds on research funded by the Australian Research Council (ARC) including ARC Future Fellowships held by the founders, and the ARC Centre of Excellence in Engineered Quantum Systems (EQUS) at the University of Queensland.
EQUS director Professor Andrew White said: “Tom and Arkady have been working on this technology for over five years. It’s fabulous to see EQUS’ fundamental research being translated to address real needs in the sector.”