Founded in 2021 as a University of Chicago technology spin-out and led by Chairman and CEO Charles Foley, memQ develops quantum networking solutions to enable scalable, distributed quantum computing. Its memQ xQNA portfolio includes quantum network interface controllers (QNICs), quantum memory modules (QMMs), a quantum control system (QCS), and a distributed quantum compiler (xDQC). These components are intended to allow heterogeneous quantum computers to join networks without collapsing quantum states, provide stable quantum memory for entanglement operations, orchestrate qubit and entanglement operations, and distribute workloads for optimal performance. The company emphasizes standards-based connectivity across optical links to enable modular growth, scale-out configurations, cooperative processing, and blind cloud quantum computing. memQ’s portfolio targets secure, high-fidelity, low-loss connectivity across local, campus, metro, and wide-area quantum compute resources. The company announced a $10M Series A in March 2026 co-led by Quantonation and Ocean Azul Partners.

Total raised

$12M

Funding rounds

2

Latest round

Series A

Latest activity

Mar 2026