Agnostiq secures $2.4 million CAD to accelerate development of quantum computing software
Toronto-based software startup Agnostiq has raised a $2.4 million CAD ($2 million USD) seed round to bolster its quantum computing platform.
The round, which closed in December, was led by New York’s Differential Ventures, and saw participation from Scout Ventures, Tensility Venture Partners, Boost VC, and Green Egg Ventures.
For Differential and Boost, it was their second investment in the Toronto startup, as they previously provided the majority of Agnostiq’s $1 million CAD ($830,000 USD) pre-seed round.
Agnostic currently serves financial services organizations in Canada and the United States.
In an interview, Elliot MacGowan, Agnostiq’s co-founder and COO, told BetaKit the company decided to raise the round after gaining some product traction and identifying a market opportunity.
Agnostiq, Inc., a Toronto, Canada-based quantum computing SaaS startup, raised $2m in seed funding.
The round was led by Differential Ventures, with follow-on participation from Scout Ventures, Tensility Venture Partners, Boost VC, and Green Egg Ventures.
The company intends to use the funds for continued development of its software platform.
Co-founded by CEO Oktay Goktas and COO Elliot MacGowan in 2018, Agnostiq is an interdisciplinary team of physicists, computer scientists, and mathematicians with the shared aim of using technology to build practical applications for industry. The company combines quantum applications, privacy tools, and support for all of the latest quantum hardware into a platform designed to help organizations solve mission critical tasks.