- Published on March 29, 2022
- In AI Startups
Why did Alphabet spin off its quantum startup Sandbox?
According to a report by Gartner, 20 per cent of global companies will budget for quantum-computing projects by 2023.
- By Poulomi Chatterjee
After months of rumours and speculation, Google’s parent company Alphabet spun off its computing quantum software company Sandbox last week. Originally started as a passion project by Sergey Brin, the standalone company will now continue to be led by Jack Hidary, who has been Sandbox Group director. Hidary will lead the 55-member team. SandboxAQ emerged as its own entity after a financing round that reportedly closed at nine figures, with former Google CEO Eric Schmidt being named as chairman.
Other investors in the round included Thomas Tull, Breyer Capital, Eric Schmidt, First Light Capital Group and advisory companies like Guggenheim Investments, T. Rowe Price Associates, TIME Ventures, Section 32, Parkway Venture Capital and others. Sandbox, describes itself as a SaaS company that is making commercial products for telecom, financial services, computer security and the governmental sector. Clients like Vodafone Business, Softbank Mobile and Mount Sinai Health System are a
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Poulomi Chatterjee
Poulomi is a Technology Journalist with Analytics India Magazine. Her fascination with tech and eagerness to dive into new areas led her to the dynamic world of AI and data analytics.
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