Snowcap Compute Launches with $23 Million Led by Playground Global to Power the Next Era of AI and Quantum Compute
Superconducting startup aims to expand the limits of silicon
PALO ALTO, Calif., June 23, 2025--(BUSINESS WIRE)--Snowcap Compute, a startup building the first commercially viable superconducting compute platform, today launched with $23 million in seed funding led by Playground Global. Engineered for extreme performance and energy efficiency, Snowcap's architecture enables a new class of data centers optimized for AI, quantum, and high-performance computing (HPC). The platform delivers the performance and efficiency needed to power advanced AI inference and training, as well as HPC and quantum-classical hybrid workloads.
"We're building compute systems for the edge of what's physically possible," said Michael Lafferty, CEO, Snowcap. "Superconducting logic lets us push beyond the limits of existing CMOS technology, achieving orders-of-magnitude gains in processing speed and efficiency. That performance is essential for the future of AI and quantum computing."
Snowcap is led by an exceptional team of silicon industry veterans with extensive scientific, technical and operational experience. In addition to Lafferty, whose tenure as director of Cadence's "More than Moore" engineering group focused on pioneering superconducting and quantum technologies, the founding team includes Chief Science Officer Anna Herr, Ph.D., and Chief Technology Officer Quentin Herr, Ph.D., who are globally recognized as the foremost researchers in practical superconducting computers with key roles at Northrop Grumman and imec. Joining Mike, Anna, and Quentin is a roster of deep tech Silicon Valley veterans, including advisors Brian Kelleher, former SVP of GPU engineering at NVIDIA, and Phil Carmack, former VP of silicon engineering at Google.
"Snowcap represents a rare opportunity to realize dramatic performance and power efficiency gains," said Pat Gelsinger, General Partner at Playground Global and Chair of the Board at Snowcap. "Reimagining a post-CMOS world from the ground up with the most capable and experienced team in superconducting technology is exactly the kind of breakthrough that Playground was built to enable. The implications for AI, quantum and HPC are both thrilling and profound."
Built on decades of research and development, Snowcap's platform is engineered to support next-generation quantum and low-temperature compute systems, enabling exceptional speed, efficiency and low latency. Snowcap has also solved the key engineering challenges that have prevented superconducting technology from reaching broad commercialization in the past, including scaling, fab compatibility, EDA challenges, and system architecture issues.
Joining Playground in this seed round are Cambium Capital, which specializes in compute and deep tech investments, and Vsquared Ventures, a European firm with a strong track record in international semiconductor investing.
About Snowcap
Snowcap is building the first commercially viable superconducting compute platform — designed to deliver dramatic gains in speed and energy efficiency for AI, quantum, and high-performance computing. Founded by a team of experts in superconducting logic, digital architectures, and systems engineering, Snowcap is rethinking classical compute for the age of cryo and quantum infrastructure. Learn more at www.snowcapcompute.com.
About Playground Global
Playground Global is a deep tech venture capital firm with $1.2 billion under management, backing early-stage startups solving foundational challenges in next-generation compute, automation, energy transition, and engineered biology. Founded in 2015 and based in Palo Alto, Playground partners closely with technical and scientific founders to turn breakthrough ideas into lasting companies. Portfolio highlights include PsiQuantum, MosaicML (acquired by Databricks), d-Matrix, Agility Robotics, Ideon, Ultima Genomics, and Strand Therapeutics. Learn more at www.playground.vc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250623688438/en/
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