memQ, a Chicago, IL-based quantum memory startup, raised $2M in Seed funding.
The round was led by Quantonation, Exposition Ventures, and the George Schultz Innovation Fund.
The company intends to use the funds to accelerate the development of an on-chip quantum repeater built on its platform, enabling the quantum internet.
Led by CEO Manish Singh, memQ is building hardware for distributed quantum information.
A spin-out from the University of Chicago, memQ was co-founded in 2021 by Singh (Ph.D.) in partnership with Sean Sullivan (Ph.D.) and Supratik Guha, professor in UChicago’s Pritzker School of Molecular Engineering and senior scientist at Argonne National Laboratory.
memQ previously received non-dilutive funding from the Department of Energy (DOE) through Chain Reaction Innovations (CRI), the entrepreneurship program at Argonne National Laboratory.
The company is currently incubated at Duality, which provides capital equipment, mentorship, and access to a network of industries and potential investors.
FinSMEs
17/02/2023