UChicago Spinout Acquired by Quantum Ecosystem Leader ColdQuanta

A University of Chicago quantum software spinout and Duality Cohort 1 participant,, has been acquired by the global quantum ecosystem leader and CQE Partner, ColdQuanta is embedded in Argonne National Laboratory’s Chain Reaction Innovations program and is also incubated by Duality, the first accelerator dedicated exclusively to supporting quantum startups, operated by the Chicago Quantum Exchange (CQE) and UChicago’s Polsky Center.

Following the acquisition, ColdQuanta, a CQE corporate partner, is establishing a Chicago-based office that will draw on the talent and innovation from the University and the city’s robust startup ecosystem.’s full team will remain on board, including CEO Pranav Gokhale, PhD ’20, and Chief Scientist Fred Chong who will lead the new office as vice president of quantum software and chief scientist of quantum software, respectively.

“Becoming part of ColdQuanta is incredibly exciting because’s strength is building software that is tailored to the physics of quantum technologies, and ColdQuanta gives us intimate access to a range of computing, sensing, and communication technologies,” said Chong, Seymour Goodman Professor in the University’s department of computer science. “Together, we will create the most effective quantum systems across a range of applications in the quantum industry.”

Moving forward, Gokhale said the team will continue to develop its quantum software platforms, SuperstaQ and SupermarQ, “but now with the backing, expertise, and resources of ColdQuanta. For example, we’ll be able to deeply integrate SuperstaQ with ColdQuanta’s ‘Hilbert’ quantum computer—this will unlock new optimizations across the quantum software stack.” in 2020 was awarded $150,000 from the George Shultz Innovation Fund, which enabled the startup to make key hires and grow the business. Gokhale also participated in the Polsky I-Corps programand was a former Innovation Fund Associate, performing due diligence on ventures coming out of the University ecosystem.

To date, has been awarded millions of dollars in federal research and major organizations, including Fortune 500 companies and national research laboratories, currently rely on its software as part of their strategic quantum initiatives. In February, was selected to receive $1.65 million in funding from the Department of Energy and announced the release of SupermarQ, an application-centric benchmarking suite for quantum computers.

The open-source benchmarking suite is based on an award-winningacademic paper authored by employees and members of EPiQC, a $10 million Expedition in Computing from the National Science Foundation.

“The quantum industry is experiencing tremendous growth as hardware and software solutions begin to take root in the real world,” said ColdQuanta CEO Scott Faris in a press release. “Since its launch, has been recognized as an innovator in quantum software and benchmarking. The combination of’s software applications and algorithms and ColdQuanta’s ground-breaking quantum computer, Hilbert, will enable customers to accelerate time to value.”

Read the full story on Polsky Center for Entrepreneurship and Innovation at the University of Chicago's website