SandboxAQ, an AI startup spun off from Alphabet in 2022, has secured an additional $150 million in funding from major technology and financial players, including Google, Nvidia, and BNP Paribas. This latest investment raises its Series E round to $450 million and increases its total funding to $950 million, valuing the company at $5.75 billion.
The Palo Alto-based firm employs quantum computing techniques to develop Large Quantitative Models (LQMs) that analyze extensive numerical datasets and perform complex computations. These models have applications in fields such as drug discovery and financial modeling and are accessible through platforms like Google Cloud.
With approximately 200 employees, SandboxAQ plans to use the new capital to drive research and development and broaden its enterprise partnerships in industries such as biopharmaceuticals, chemicals, and energy. The backing from tech giants highlights growing interest in quantum computing and its real-world applications.