There’s one problem. Today’s quantum computers underperform traditional computing because they contain a lot of noise (i.e. inconsistency created by environmental interference). You can think of this as someone trying to speak to you while having a potato in their mouth… They may have the right answer, but you just can’t understand what the computer is trying to say.
Enter Algorithmiq
The next massive milestone is demonstrating “quantum advantage” — the ability of quantum computers to solve problems faster or more efficiently than classical computers. After deep-diving into the quantum computing field, we think Helsinki-based Algorithmiq will be the key player to solve this noise challenge. Together with IBM, they showed a proof-of-principle experiment and have created a workaround for noise. In other words, with Algorithmiq you do not need to remove the noise but rather mitigate it. To follow our Nordic example: you do not need to remove the potato if you know Danish!
The beauty of this Algorithmiq’s solution is that it is hardware agnostic, meaning it can run on any quantum device regardless of how it’s built. As many following the space know, the competition between different hardware platforms is fierce.
The first real commercial opportunity for quantum: drug discovery
It’s widely accepted that it takes around a decade and $1 billion for a new drug to get to market. This is far too much money and time separating humanity from new lifesaving drugs.
Algorithmiq’s approach is aimed at radically improving both the development time and cost of drug development by skillfully combining the power of quantum algorithms, network medicine, and AI for structure prediction, molecular similarity simulation, and realistic modeling of protein-ligand docking. To find out more how Algorithmiq synthesises these fields, read more in their research papers.
Recently, Algorithmiq announced a collaboration with IBM to super-charge its exploration of quantum algorithms applied to the life sciences. This partnership will contribute to Qiskit, an open source SDK for quantum computers, as part of the IBM Quantum Network. This collaboration aims to dramatically cut the time and cost of drug discovery and development.
One of a kind international team based in Helsinki
The team at Algorithmiq is headed by co-founder and Professor Sabrina Maniscalco. She has been working in the Quantum field over 20 years, specifically focusing on noise. She initially moved from Italy to Finland due to a professorship in Turku University, and luckily wanted to stay in Finland when building Algorithmiq.
Their team of 25+ PhDs combines expertise from unique mix of fields including quantum physics, quantum chemistry, network medicine, drug development, and AI. The magic happens in the intersection of these fields, and in short the team references about the core team were as magical.
If you’re inspired by Algorithmiq’s mission and work, they’re currently hiring. You can check out their open positions on their team page.
Crazy? Yes, and we love it.
The bottom line is that Algorithmiq is a prime example of a startup that’s taking the promise of new disruptive technology and applying it to the most viable short-term commercial opportunity. It’s a thrilling time to be involved in quantum computing, whether as an investor, a researcher, or a job seeker. We are proud to be leading the $13.7M round with participation from Presidio, Tesi and Thames Trust, together with existing backers.
