Also Secures JPY 500 Million Credit Line

QunaSys, Inc. (Headquarters: Tokyo, Japan; CEO: Tennin Yan), a leader in quantum computing algorithms and software development, has successfully raised JPY 1.7 billion in Series B2 funding. The round was led by ­Mirai Creation Fund III managed by SPARX Asset Management Co., Ltd. (Headquarters: Tokyo, Japan; President & CEO: Shuhei Abe), with additional participation from funds managed or co-managed by JIC Venture Growth Investments (VGF I), Fujitsu Ventures (Fujitsu Ventures Fund LLC), Mitsubishi Electric (ME Innovation Fund)⁽¹⁾, Osaka University Venture Capital (OUVC No.2 Fund), KDDI (KDDI Open Innovation Fund III)⁽¹⁾, and Kyocera (KVIF-I)⁽¹⁾, and Zeon. QunaSys has signed a new JPY 500 million credit line agreement with Sumitomo Mitsui Banking Corporation, and has agreed with KDDI and Kyocera to pursue capital and business partnerships alongside this fundraising.
(1) Funds co-managed with Global Brain Corporation.

Background and Recent Business Progress

Since 2019, growing interest from both governments and industries worldwide has fueled a surge in quantum computing investments, resulting in significant progress in the research and development for practical application of quantum computers, particularly in material development simulations. Since 2023, notable advancements in error correction technologies by global players brought the vision of practical quantum computing closer to reality, marking a major turning point for the quantum computing industry⁽²⁾.

Since raising capital in 2022 and 2023, QunaSys has continued to drive innovation in industrial applications for quantum computing. Through collaborations with leading companies and institutions such as Fujitsu and Mitsubishi Electric, we have developed a new approach in quantum chemistry calculation (Quantum-Selected Configuration Interaction) aimed at the early practical use of quantum computers⁽³⁾, and are pioneering new applications in preparation for the era of fault-tolerant quantum computing such as in CAE (Computer-Aided Engineering)⁽⁴⁾.

In November 2022, we launched QURI Parts, an efficient, modular open-source quantum computing library for algorithm developers and researchers. In October 2024, we released QURI SDK, a tool designed to help drive research and development to prepare for the arrival of fault-tolerant quantum computers. QunaSys is also working with AIST (National Institute of Advanced Industrial Science and Technology) and other institutions to build quantum computing environments. Through joint research with Osaka University’s Fujii Lab, we have developed a unique error-correction architecture.

To lay the groundwork for materials innovation using quantum computers, we have been working with Zeon to build a data management system for materials development. We are also leveraging large language models (LLMs) to transform R&D environments.

In May 2023, our proposal was selected for Japan’s Photonics and Quantum Leap Flagship Program (Q-LEAP), and in October 2023, for the Strategic Innovation Program (SIP), contributing to key policy initiatives including developing quantum talent and setting standard quantum algorithm performance metrics. In October 2023, QunaSys established a new office in Denmark to expand our customer base and application areas across Europe.

(2) McKinsey & Company, “Quantum Technology Monitor” April 2024; Boston Consulting Group, “The Long-Term Forecast for Quantum Computing Still Looks Bright” July 18, 2024.
(3) [QunaSys-Osaka U., arXiv:2302.11320 (2023)].
(4) For example, application of quantum phase estimation for modal analysis used in structural calculations [QunaSys, arXiv:2307.07478 (2023)].
 

Going Forward

As the quantum industry approaches a critical juncture on the path to realizing fault-tolerant quantum computing, QunaSys views this as an opportunity for significant growth. We plan to use the capital raised to accelerate our business both in Japan and internationally. Under our vision “Maximize the Power of Quantum Computing”, we will continue working with end-user companies and partners to explore new application areas, develop practical technologies, and build the foundational technologies needed to fully unlock the power of quantum computing.
 

Investor Comments

Shiori Monokawa, Vice President, SPARX Asset Management Co., Ltd.
QunaSys has played a pivotal role in advancing Japan's quantum industry through its consortium, establishing a strong foothold through collaborative research focused on algorithm and application development in quantum chemistry. With recent progress in quantum computing hardware, the practical application of error-correction technology is increasingly within reach. We see QunaSys as one of the few companies capable of adding real value to the realization of quantum computing. This belief led us to invest as the lead investor in this Series B2 round. Looking ahead, we are excited to see QunaSys  leverage its unique position to drive the industrial adoption of quantum computers, positioning itself as a leading company based out of Japan.

Hayami Shimizu, CEO, Osaka University Venture Capital Co., Ltd.
QunaSys has inspired great expectations that a future where high-performance, almost dream-like materials are developed continuously may be closer than we think. The company is staffed by talented researchers dedicated to unlocking the potential of quantum computing and developing quantum algorithms that can deliver significant social benefits. We decided to invest in QunaSys, believing the investment will support the initiatives of its partner, Osaka University, to implement quantum technology in society. We are committed to fully supporting QunaSys in its continued growth.

Shouichi Nakagawa, Executive Officer, Senior General Manager, Corporate R&D Group, Kyocera Corporation
We at KVIF-I are thrilled to have the opportunity to invest in QunaSys. Our research and development is guided by our motto, “What we like to do next is what people tell us we can never do.” We believe that realizing the full potential of quantum computers requires both exploring use cases suited to their unique characteristics and developing platforms and software environments to maximize hardware capabilities. QunaSys is committed to both of these development areas and is building a talented team and strong network of collaborators, establishing itself as an essential partner for the future quantum computing era. We are fully committed to supporting QunaSys as it boldly pursues a better future with its high level of technical expertise.

Kazuhiko Chuman, Head of KDDI Open Innovation Fund & KDDI ∞ Labo, KDDI Corporation
Quantum computers are expected to bring transformational changes to industries and the economy, much like how smartphones revolutionized personal lives. However, many challenges remain on the path to commercialization. QunaSys is not only advancing approaches directly linked to practical applications but is also actively leading the societal implementation of quantum technology by building an industry-wide ecosystem. Through this investment, KDDI is committed to supporting the realization of a quantum-powered world, with QunaSys at the forefront.

Yuki Kuwabara, Venture Capitalist, JIC Venture Growth Investments Co., Ltd.
Following our investment in the previous round, we are pleased to make an additional investment in this round. Over the past two and a half years, QunaSys has more than doubled in size and made remarkable strides in advancing the industrial application of quantum computing through collaborative research with a range of companies and research institutions. As a result, the business has been steadily growing. We look forward to QunaSys continuing to lead Japan’s quantum computing industry as a key player in this field.

Kazuhiro Takahashi, R&D Center Division Manager, Zeon Corporation
We are extremely proud to deepen our collaboration with such an innovative company and its exceptional team. QunaSys is dedicated to bringing quantum computing to society, particularly in the field of chemistry, and as the only chemical industry shareholder of the company, Zeon Corporation fully aligns with its vision and strategic objectives. We have been actively working on building data infrastructure and models for the social implementation of quantum computing, and we look forward to building an even stronger partnership as we move toward future growth and success.

Dr. Shintaro Sato, Fellow, SVP & Head of Quantum Laboratory at Fujitsu Research, Fujitsu Limited
Over the past four years, we collaborated with QunaSys in various ways, including joint research and software integration, allowing us to witness their exceptional technical expertise firsthand. Quantum computing is now at a transformative stage, with further industrial applications on the horizon. As we pursue these advances, QunaSys, with its world-class capabilities and talented team, remains an indispensable partner, and we look forward to working together to drive the application of quantum technology in society.

Satoshi Takeda, Executive Officer, CDO (In charge of DX, Vice President, Business Innovation), Mitsubishi Electric Corporation
We have great respect for QunaSys's technical capabilities. Since our initial investment in 2022, we have made progress in joint research focused on quantum machine learning, achieving steady results, including presentations at international conferences. As Japan’s leading startup in quantum computing software, we have decided to make an additional investment with high expectations for further growth. We will continue collaborating on technology development to accelerate the early real-world implementation of quantum computing.
 

Comments from Existing Investors

Masahiro Sameshima, General Partner, ANRI
The time has come to see whether the quantum industry is just a bubble or if it will truly become an established sector. The real journey begins now.
To everyone at QunaSys in 2050—are you at the top of the world?

Yasuhiko Yurimoto, President & CEO, Global Brain Corporation
QunaSys has remained dedicated to its vision of realizing "industrial applications of quantum computing" and has consistently pursued this mission since its founding. Its quantum chemistry computation software is highly regarded worldwide. Additionally, the company's proactive development of a unique error-correction architecture provides a strong global competitive edge, positioning it as a key driver of industry growth. With the success of this fundraising round, we at Global Brain are fully committed to supporting QunaSys as it continues to lead the industrial applications of quantum computing, establishing itself as a global company originating from Japan.

Dr. Scott Crowder, Vice President, IBM Quantum Adoption and Business Development
We’re happy to see QunaSys continue to make impressive strides in developing quantum algorithms and services, such as their recently released Qiskit Functions service, QURI Chemistry for finding the ground state energy for molecules — a fundamental challenge in chemistry.

Emily Fontaine, Vice President, IBM Global Head of Venture Capital
Our investment in QunaSys demonstrates how the IBM Ventures capital plus model drives innovation, solidifies relationships in highly strategic areas, and helps to bring the quantum community closer to developing practical quantum applications.
 

Comment from Tennin Yan, QunaSys CEO

We are pleased to have successfully completed this funding round at a time when the quantum computing industry enters a new phase of growth. We sincerely thank our investors for placing their trust in our vision and the technologies we have developed since our founding.
While the view around near-term industrial applications of NISQ (Noisy Intermediate-Scale Quantum) computers may require revising, the success of error-correction demonstrations in 2023 and beyond has made the practical use of fault-tolerant quantum computers increasingly realistic. To continue meeting the expectations of our valued customers, we will push forward with our current research and development efforts while broadening the scope of industrial applications of fault-tolerant quantum computing through advancements in error-correcting architectures and long-term algorithm development.
Guided by our founding slogan, "We are Quantum Native.", we are committed to fostering quantum-native talent. Together with our customers and diverse partners, we will continue to challenge ourselves to create a future where quantum computing contributes to industry.
 

About QunaSys, Inc.

QunaSys was founded to bring quantum physics, which has long supported society from behind the scenes, to the forefront by actively leveraging quantum properties to achieve what conventional technologies cannot. While hardware advancements are essential for the practical use of quantum computers, progress in algorithms and software is equally critical. QunaSys contributes to the 'real-world implementation' of quantum computing by providing algorithms and software that maximize the performance of quantum hardware.

Contact Information

QunaSys, Inc.
URL: https://qunasys.com/
E-Mail: pr@qunasys.com (Public Relations and Investor Relations)

All company and product names mentioned are trademarks or registered trademarks of QunaSys Inc. or their respective owners.