QTFT has officially announced the successful closure of its 30 million baht Seed Round investment. This funding represents a significant milestone for the burgeoning quantum industry in Thailand and aligns with the global surge in investments towards quantum technology.
QTFT operates as a B2B enterprise, preparing organizations for the upcoming quantum era through its innovative Quantum Optimization software, which functions on a hybrid system that integrates digital and quantum technologies. This software is strategically designed to address the needs of various sectors, including finance, energy, manufacturing, and logistics. QTFT boasts a world-class research team composed of PhD holders from prestigious institutions such as Cambridge, Harvard, MIT, Berkeley, and Caltech.
According to Dr. Jirawat Tangpanitnan, Executive Chairman of QTFT, the funds acquired will be utilized to expand the team and enhance the development of a software application named SOR, which serves as a Quantum Optimization Engine for Prescriptive Data Analytics. The goal is for SOR to outperform established international competitors, particularly in real-time optimization challenges that are often difficult to achieve with digital technology. Potential applications include portfolio management, flight scheduling, production planning, and smart grid management.
In 2021, QTFT collaborated with Kasikorn Bank and KBTG to develop quantum algorithms aimed at improving loan management and reducing non-performing loan rates. This collaboration was recognized at the prestigious APS March Meeting 2022, which attracted over 12,000 attendees.
Additionally, towards the end of 2021, QTFT partnered with Fujitsu (Thailand) to implement the proprietary Quantum-inspired technology known as Digital Annealer for combinatorial optimization applications, marking the first use of such technology in Thailand, alongside QTFT's specialized software.
In terms of human resource development, QTFT is working with leading universities and research organizations, such as the Excellence Center in Physics at Suranaree University of Technology, to develop undergraduate and graduate curricula. These initiatives aim to elevate the research capabilities in quantum technology and produce skilled personnel to meet the future market demands.
As QTFT continues to innovate and expand its collaborations, it is poised to play a crucial role in advancing quantum technology in Thailand, paving the way for a new era of technological breakthroughs that can have far-reaching impacts across various industries.
