Company: Quantum Dice
Co-Founders: Ramy Shelbaya, Marko von der Leyen, Zhanet Zaharieva, Wenmiao Yu, George Dunlop
Website: https://www.quantum-dice.com
About Quantum Dice
Quantum Dice enhances Monte Carlo simulations, an essential part of the financial services sector, through its Quantum Random Number Generator (QRNG) solution.
Founded in April 2020, Quantum Dice was created after spinning out from the University of Oxford’s world-renowned quantum optics laboratory, where the architecture for its innovative quantum source of entropy was originally invented.
In the financial services sector, Monte Carlo simulations are used across tasks such as risk management, portfolio optimisation, pricing complex financial instruments and actuarial assessment. Their accuracy and efficiency have a direct impact on organisations’ bottom line affecting both their budgets and decision-making.
Random sampling is at the core of these simulations; however, this is a task that the current state-of-the-art in computing hardware is ill-suited for. Current industry standards are based on random numbers generated by deterministic algorithms that produce only seemingly random sequences.
Quantum Dice’s solution leverages quantum physical processes, which unlike algorithms, are intrinsically unpredictable based on the underpinning laws of physics. It is a high-speed, reliable, and highly optimised architecture for randomness generation using quantum photonics.
Quantum Dice has already demonstrated significant advantages of its quantum solution compared to the industry standard, leading to a substantial reduction in computing steps for Monte Carlo simulations and an increase in their accuracy. These advantages pave the way for significant cost, time, and energy savings, as well as the ability to make more informed decisions.
Together with STFC Hartree and HSBC, Quantum Dice has assessed the use of its QRNG on test cases relevant to Monte Carlo simulations in the financial services sector in an Innovate UK-funded project. Following the successful completion of this project, Quantum Dice announced its collaboration with HSBC to explore this further in a planned commercial proof of concept (PoC).
Since its formation, Quantum Dice has secured £3 million in funding from leading international and UK VCs (Elaia Partners, IPGroup PLC, and Future Planet Capital) as well as £2 million in Innovate UK grant funding. The Oxford-based team is now 20 and growing.
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