QMatter has raised $1.2 million in pre-seed funding, led by 55 North, with XTX Ventures, Bellstate Oy, and the Conception X Angel Syndicate also participating.
The startup QMatter was founded in 2024 by Dr Alexis Ralli and Dr Timothy Weaving, who met while doing their PhDs at University College London, where they researched quantum computing for quantum chemistry. Academic co-founders Professor Peter Coveney and Professor Peter Love also joined the team.
“Early on in our research, we started looking at ways to get the most out of the quantum devices we had access to. That’s where some of these ideas started to form, which have eventually become what we’re now calling quantum compression,” Weaving says to Tech Funding News.
QMatter’s platform uses quantum compression to focus on the most important quantum components of molecular simulations, ensuring hardware is used only where needed. Weaving explains this with a photo of five dogs: after strong compression, the names on their tags are gone, but you can still count the dogs and see their breeds.
“In a chemical context, the questions that matter are: is this molecule soluble, will it cross the blood-brain barrier? If you design your compression to still answer those questions confidently, you can make actionable decisions from data generated by today’s quantum hardware.”
The platform works with both quantum and classical systems, from regular computers to supercomputers. It acts as a layer beneath existing systems to improve results without requiring any replacements. “We’re not positioning ourselves as competitive with quantum software or hardware companies. We improve their output,” Weaving says.
Direct competitors include Phasecraft and Kvantify; however, there’s more competition at the application level.
“The first commercially valuable applications of quantum computing devices will likely be in chemistry and pharmaceuticals. QMatter’s compression approach accelerates the timelines and brings these applications closer to the market,” says Helmut Katzgraber, CSO & General Partner, 55 North.
Based in London and Boston, QMatter plans to use the money to expand its quantum compression platform, hire more staff, and start an industrial pilot with pharmaceutical and biotech partners. The company expects to seek a seed round in about a year.
“The goal is to demonstrate that the technology scales and can be deployed for these industrial-scale problems. That validation will put us in a good position to raise our seed round,” Weaving says.
