Sandbox AQ
SandboxAQ develops quantum software algorithms that can be used with the existing cloud computing infrastructure. SandboxAQ’s post-quantum encryption replaces existing cryptography, which is vulnerable to hacking from emerging quantum computers. In addition to cryptography, SandboxAQ also works with the medical technology sector, providing quantum software that vastly accelerates drug development. SandboxAQ’s third business line is sensors, which use quantum software and sensing. SandboxAQ’s geolocation sensors provide precise GPS coordinates using only the earth’s gravitational field. This same technology also powers one of the world’s most advanced heart monitors, which is currently being tested at major medical centers.
2022
Sandbox AQ spins out of Google
2023
Sandbox AQ launches AQBioSim to work on drug development with drug developers such as: AstraZeneca and Sanofi
2022
Sandbox raises first funding round of $500M with investors that includes Parkway
2023
Sandbox AQ announces collaboration with NVIDIA
Partnering with Sandbox AQ from inception.
Parkway was the first venture capital fund to invest in Sandbox AQ, after its spin out from Google. Being one of their earliest and largest backers, means we have a very strong relationship with Jack Hidary and Eric Schmidt.
Parkway had been looking for an investment opportunity in the quantum computing space, but was unconvinced by the many other opportunities. In 2021, Parkway was introduced to Sandbox AQ’s CEO, Jack Hidary, and immediately it became clear that the business was fit for Parkway’s investment strategy. Sandbox AQ focussed on quantum software, rather than hardware, already had products it was selling, as well as paying customers.
Parkway’s conviction level of conviction on the business and the management team resulted in a $45M investment from Parkway’s funds and co-investors, making Parkway the first VC Fund to invest in Sandbox, and one of the company’s largest shareholders.
Parkway’s know-how, and ability to understand Sandbox AQ’s technology, helped build the relationship, and the level of our investment cemented it.
Parkway was the first VC Fund to back us and has been an integral partner in our global growth strategy. Without Parkway, we would not be in the same place today.
Jack Hidary
CEO, Sandbox AQ
