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Robert Bosch Venture Capital invests in Zapata Computing

Developing algorithms for the quantum computing revolution

  • Robert Bosch Venture Capital joins a strong syndicate of Comcast Ventures, Prelude Ventures, Pitango Ventures, BASF Ventures, Pillar VC, and The Engine.
  • RBVC Managing Director Dr. Ingo Ramesohl: “Zapata’s quantum computing algorithms can accelerate our developments in material science and mobility solutions.”
  • The quantum computing software market has the chance to grow to several billions USD in 2027.

Stuttgart, Germany – Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company of the Bosch Group, has completed an investment in Zapata Computing’s Series A round. Comcast Ventures together with Prelude Ventures are leading an USD 21 million round. It includes participation from new and existing investors like Pitango Ventures, BASF Ventures, Pillar VC, and The Engine. Zapata Computing aims to be the market leader in quantum algorithms and software, providing a complete toolset for solving large optimization problems on near term quantum computers.

The potential of quantum technology

Quantum computers have the potential to solve industry relevant optimization problems, which are not solvable on classical computers. Since quantum computers use a completely new way of computing, they will be millions of times faster than even the most powerful super computers that exist today. They can revolutionize information processing especially in the fields of material science and chemistry, pharma, finance, logistics, and AI. Indications show that the market for quantum software could be worth several billions USD in 10 years from now.

Driven by efforts from Zapata, quantum computing has evolved from the research of laboratories into deployable technology. “With RBVC’s experience and expertise across a breadth of business sectors and innovations, we’re looking forward to helping accelerate Zapata’s progress”, says Dr. Ingo Ramesohl, Managing Director at RBVC. “Zapata’s quantum computing algorithms have the potential to accelerate developments in Bosch relevant fields such as material science.”

“For our Series A, we looked specifically for world-class investors who bring a global reach and a depth of experience in the fields of enterprise software and materials,” says Christopher Savoie, CEO and cofounder of Zapata. “The success of Zapata’s quantum software platform has sparked an enormous demand from Fortune 100 and Global 1000 enterprises worldwide. The new financing will power our expansion strategy, enabling us to accelerate product development and expand our business into new markets and regions.”

A strong team with proven academic track record

Since spinning out of Harvard University in 2017, Zapata has rapidly become an important player in quantum computing with an exceptional team of scientists.

“The playbook for quantum computing is being written right now by first movers like Zapata,” says Alán Aspuru-Guzik, cofounder of Zapata. “As the enterprise demand for our quantum solutions continues unabated, Zapata has a distinct opportunity to rapidly cultivate the next generation of quantum science talent.”

With growing customer demand, Zapata is developing powerful, hardware-agnostic solutions, implemented on the latest quantum hardware made by Google, IBM, Rigetti, Honeywell, IonQ and others. Zapata holds an exclusive license to a portfolio of quantum algorithms from Harvard University. Zapata is also a founding member of the Quantum Industry Coalition, an industry group instrumental in driving the bipartisan passage of the National Quantum Initiative in the United States.

About RBVC GmbH

Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. RBVC invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and future relevance for Bosch, above all, automation and electrification, energy efficiency, enabling technologies, and healthcare systems. RBVC also invests in services and business models as well as new materials that are relevant to the above-mentioned areas of business.

Additional information is available at www.rbvc.com

About Zapata Computing Inc.
Founded in 2017 and based on technology developed at Harvard University, Zapata is building the leading enterprise software company for quantum solutions to enable the next generation of accessible, commercial high-performance computing. Co-founded by Alán Aspuru-Guzik, a world leader in quantum simulation for chemistry and materials, Zapata’s founding team includes Christopher Savoie, Yudong Cao, Jonathan Olson, Peter Johnson, and Jhonathan Romero. www.zapatacomputing.com

The Bosch Group is a leading global supplier of technology and services. It employs roughly 410,000 associates worldwide (as of December 31, 2018). According to preliminary figures, the company generated sales from operations of 77.9 billion euros in 2018. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected manufacturing. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At 125 locations across the globe, Bosch employs some 69,500 associates in research and development.

Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com, www.twitter.com/BoschPresse.

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