UCLQ software start-up acquired
12 December 2021
US investor Odyssey now holds a majority stake in Rahko.
UCL quantum software start-up Rahko has been bought by US-based Odyssey Therapeutics according to reports from The Telegraph.
Rahko was founded in mid-2018 when CEO, Leo Wossnig, and CSO, Ed Grant, first met and worked together in their PhD programs at UCL. Rahko CSO Ed Grant undertook his PhD within the UCL hosted EPSRC Centre for Doctoral Training (CDT) in Delivering Quantum Technologies.
Since its founding, the company has attracted significant interest and has partnered with Microsoft, Nvidia and IBM. Rahko describes itself as a quantum machine learning (QML) start-up. The company is focused on developing machine learning software to run on the first generation of truly practical quantum computers, which will be available in the near term, to help solve industry problems.
Odyssey has recently raised $218m in venture capital funding to back new drugs and drug discovery technology. The amount required for the acquisition of Rahko has not been made public.
The Rahko Team (Credit: Rahko)