Sandbox Officially Spins off into an Independent Company

Share Us

665
Sandbox Officially Spins off into an Independent Company
25 Mar 2022
5 min read

News Synopsis

Sandbox AQ, a software startup developing quantum computing and artificial intelligence tools for commercial use, was officially spun off from Alphabet Inc. by Google to become an independent company.

The move was funded by a funding round that included Breyer Capital, Rowe Price Associates Inc, and Guggenheim Partners LLC, among investors, the company said. The amount and the terms of the deal are not disclosed by any of the companies.

The former chief executive of Google, Eric Schmidt was announced as the new chairman of the company and some of the other high-profile investors will serve as advisors, the company said.

Launched as an independent division of Google six years ago, Sandbox now has approximately 55 engineers, scientists and technicians covering physics, chemistry, AI, neuroscience, cryptography, mathematics and other disciplines. With the new capital, the company plans to hire more AI professionals, physicists and engineers.

TWN In-Focus