Zapata raises $38 million for quantum machine learning

Zapata Computing has raised $38 million for its quantum computing enterprise software platform. The figure, which brings its total funding to over $64 million, will be put toward Zapata's core mission: "Delivering quantum advantage for customers through real business use cases." Quantum computing leverages qubits (unlike bits that can only be in a state of 0 or 1, qubits can also be in a superposition of the two) to perform computations that would be much more difficult, or simply not feasible, for a classical computer. Unlike most quantum computing startups that build the hardware, Zapata is focused on the algorithms and software that sit on top. Based in Boston, Zapata has one product: its hardware-agnostic Orquestra quantum computing platform.