Agnostiq Launches Covalent to Democratize Access to the World’s Most Advanced Cloud Computing Resources

Agnostiq, Inc., the first-of-its-kind quantum computing SaaS startup, is pleased to announce the release of Covalent, an open-source workflow orchestration platform designed specifically for quantum computing and HPC technologies. Covalent aims to make quantum and high performance computing resources more accessible to practitioners and developers, including machine learning engineers and data scientists.

Fueled by the technology’s rising popularity, the global market for quantum computing is expected to reach $5 billion by 2028. Quantum computing has the capabilities to speed up computations in the coming years, which is anticipated to accelerate innovations in many industry verticals. But, it remains largely inaccessible to the enterprise, due mainly to the novelty of the technology and the high level of expertise required to build applications. Agnostiq is building a suite of tools to lower the barriers for developers and enterprises to enter into the world of quantum computing.

Covalent solves the following challenges associated with these advanced computing technologies:

  1. Breaks workflows down into modular Python components, allowing users to easily reproduce repetitive code and avoid costly reruns; important in a high performance computing/quantum setting since running experiments on these devices is extremely expensive;
  2. Serves as a single entry point for Quantum Processors, CPUs, GPUs, and quantum-inspired hardware, with no additional setup required; and
  3. Includes an intelligent task scheduler that automatically selects the best hardware resource for a given task based on a mix of predefined as well as user-defined constraints.

The company previously secured $2 million in seed funding, led by Differential Ventures, with follow-on participation from Scout VenturesBoost VCTensility Venture Partners, and Green Egg Ventures.

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