{"id":93131,"date":"2025-08-19T00:46:09","date_gmt":"2025-08-19T00:46:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/93131\/"},"modified":"2025-08-19T00:46:09","modified_gmt":"2025-08-19T00:46:09","slug":"qunova-computing-closes-10-million-series-a-funding-for-hi-vqe-quantum-algorithm","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/93131\/","title":{"rendered":"Qunova Computing Closes $10 Million Series A Funding for HI-VQE Quantum Algorithm"},"content":{"rendered":"<p><a href=\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2025\/08\/image-74.png\"><img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"400\" src=\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2025\/08\/image-74.png\" alt=\"\" class=\"wp-image-36325\" style=\"width:446px;height:auto\"  \/><\/a><\/p>\n<p><a href=\"https:\/\/qunovacomputing.com\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Qunova Computing<\/a>, a developer of quantum software applications based in Daejeon, South Korea, has announced a Series A funding round of $10 million USD (13.5 billion Korean Won). The round includes investments from <a href=\"https:\/\/www.gsventures.com\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">GS Ventures<\/a>, <a href=\"http:\/\/www.kdb.co.kr\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Korea Development Bank<\/a>, <a href=\"https:\/\/www.guequity.co.kr\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">GU Equity Partners<\/a>, <a href=\"https:\/\/kpartners.co.kr\/wordpress\/en\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Company K<\/a>, <a href=\"http:\/\/quantumepk.com\/index_en.php#firstPage\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Quantum Ventures Korea<\/a>, <a href=\"https:\/\/jbinvestmentsllc.com\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">JB Investments<\/a>, <a href=\"http:\/\/www.ckdvc.co.kr\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">CKD Venture Capital<\/a> and <a href=\"http:\/\/www.daesungpe.com\/english\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Daesung Private Equity<\/a>. This funding is intended to support the company\u2019s next phase of evolution, which includes deploying additional capital for team expansion.<\/p>\n<p>The funding is tied to Qunova\u2019s quantum algorithm, <a href=\"https:\/\/arxiv.org\/abs\/2503.06292\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">HI-VQE (Handover Iteration Variational Quantum Eigensolver)<\/a>. The algorithm is hardware agnostic and has been tested on multiple quantum computers, including those developed by IBM. The HI-VQE algorithm\u2019s design is a Hybrid Quantum-Classical (HQC) computing model that aims to reduce resource demands while improving processing speed and calculation accuracy. Qunova reports that its algorithm has demonstrated performance for quantum chemistry applications with qubit counts as high as 68. The <a href=\"https:\/\/quantumcomputingreport.com\/qunovas-hivqe-chemistry-function-added-to-ibms-qiskit-functions-catalog\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">HI-VQE algorithm was also added to IBM\u2019s Qiskit functions<\/a> catalog earlier this year.<\/p>\n<p>The company\u2019s algorithms are designed to bring quantum advantage to the chemical, pharmaceutical, and industrial engineering sectors. The funding is intended to help Qunova deliver quantum advantage to industrial users by addressing challenges on the hardware side with an algorithmic approach. The company also has an algorithm designed to handle up to 100,000 combinatorial variable optimization solutions on NISQ computers.<\/p>\n<p>Read the full announcement <a href=\"https:\/\/qunovacomputing.com\/news\/130\" rel=\"nofollow noopener\" target=\"_blank\">here<\/a>.<\/p>\n<p class=\"has-small-font-size\">August 18, 2025<\/p>\n<p>                    <a href=\"#\" rel=\"nofollow\" onclick=\"window.print(); return false;\" title=\"Printer Friendly, PDF &amp; Email\"><br \/>\n                    <img decoding=\"async\" class=\"pf-button-img\" src=\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2025\/08\/printfriendly-pdf-button.png\" alt=\"Print Friendly, PDF &amp; Email\" style=\"width: 112px;height: 24px;\"\/><br \/>\n                    <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Qunova Computing, a developer of quantum software applications based in Daejeon, South Korea, has announced a Series A&hellip;\n","protected":false},"author":2,"featured_media":93132,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[191,74],"class_list":{"0":"post-93131","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-computing","8":"tag-computing","9":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/93131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=93131"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/93131\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/93132"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=93131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=93131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=93131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}