BQP received an investment from IBM Ventures in its total funding bringing it to $8 million.

BQP is building the next-generation simulation platform BQPhy® designed to solve the most complex computational challenges in aerospace, space and defense. The advanced solvers are coupled with quantum-inspired algorithms, enabling simulations beyond today's GPUs' capabilities. Running on today's high-power computers, the quantum-powered platform is multiples faster and more accurate than existing solutions. This results in accelerated time-to-market and reduced development costs by billions, empowering organizations with a sustainable, future-proof competitive advantage. Ultimately, as quantum-native systems advance, the back-end BQPhy® platform is designed to transition seamlessly, fully leveraging their capabilities. BQP has demonstrated 10X computational advantages with aerospace and defense customers. BQP was named winner of the Griffis Institute’s HUSTLE Defense Accelerator and 2023 Quantum World Congress National Security Startup Award. The company is rapidly expanding and has researchers from among the most prestigious institutes around the world. The company has graduated from prestigious programs like Intel Ignite Accelerator and Alchemist Accelerator. As of Oct 2024, BQP has raised $6.5M from venture capital, and has received grants from the U.K., Netherlands, and Indian Governments for developing various applications. The name BQP stands for BosonQ Psi pays tribute to the great Indian Physicist Dr. Satyendra Nath Bose after whose name the elementary particle in quantum mechanics, Boson, was named. Further, it incorporates the fundamental quantity that describes the state of the quantum particle – Psi.