Alphabet's Sandbox AQ has been spun off into an independent company. The move came after the quantum tech startup closed a “nine-figure” financing round and appointed former Google CEO Eric Schmidt as chairman.
The investors include Breyer Capital, Eric Schmidt, Thomas Tull, First Light Capital Group, and accounts advised by T. Rowe Price Associates, Guggenheim Investments, TIME Ventures, Section 32, Parkway Venture Capital etc.
Founded by Jack Hidary, in 2016, Sandbox AQ has been quiet for the past 5+ years and worked as an independent division. Sandbox AQ is an enterprise SaaS platform that is solving previously unsolvable problems by harnessing the exponential power of AI combined with quantum (AQ). The company plans to develop commercial products for telecom, financial services, health care, security and other computationally-intensive sectors. The company is already delivering practical quantum and AI solutions that are solving real-world challenges for a broad range of industries, the scientific and academic communities, the federal government and more.
The company also announced a list of marquee clientele such as Vodafone Business, Softbank Mobile, WIX, Mount Sinai Health System and the US federal government. Sandbox AQ aims to rapidly deliver quantum and AI solutions to Global 1000 enterprises at scale.
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