NEW YORK and MENLO PARK, Calif., March 22, 2022 (GLOBE NEWSWIRE) — Parkway Venture Capital, an emerging, NYC-based venture firm today announced their investment in Sandbox AQ, an enterprise SaaS company delivering solutions that leverage quantum tech and AI. Terms of the investment were not disclosed.
Founded in 2016 by successful serial entrepreneur, CEO and author Jack D. Hidary, the inspiration for Sandbox AQ and some of the team originated at Alphabet Inc. In 2022, Sandbox AQ became an independent company that develops quantum AI solutions for financial services, healthcare, computer security, the U.S. government and other computationally-intensive sectors.
Jack Hidary’s vision and the company’s potential quickly attracted some of the world’s top scientists, business leaders and investors.
“At Parkway, we are focused on technology companies that are using AI, complex engineering and data science to enable the advanced simulations that power tomorrow’s possibilities,” said Jesse Coors-Blankenship, co-founder and managing partner, Parkway. “Sandbox AQ is focused on what we believe to be the sweet spot of innovation and with Jack Hidary’s leadership, Sandbox AQ is positioned to be a catalyst of innovation for decades to come!”
“We are confident that Sandbox AQ has a strong potential to disrupt and redefine the status quo in key industries,” said Gregg Hill, co-founder and managing partner, Parkway. “We are proud to add Sandbox AQ to our portfolio of future-forward companies that have a vision to succeed and drive change.”
Sandbox AQ, which launched today with several prominent customers, including Vodafone Business, Softbank Mobile, WIX, and the U.S. federal government, has already begun delivering quantum and AI applications that solve real-world business and scientific challenges. The company will use the funds from Parkway VC to grow its world-class, multi-disciplinary team of engineers, scientists and technologists and increase its ability to bring transformative technologies to market.
“Jesse and Gregg deeply understand the AI landscape, data science and complex engineering,” said Jack Hidary, CEO of Sandbox AQ. “We’re excited to have them as investors because they have a unique viewpoint on the future of technology that aligns with our vision and product roadmap.”
About Parkway VC
Parkway Venture Capital is an emerging NYC venture capital firm working from New York. Founded in 2018 by Managing Partners Gregg Hill and Jesse Coors-Blankenship, Parkway is focused on supporting future-forward companies that are building their businesses around simulation and AI disruptive technology innovations at every stage. Parkway investments and exits include Frustum Inc., sold to PTC in Nov. 2018 and were lead investors in Burrow, the D2C modular furniture innovator.
About SandboxAQ
Sandbox AQ is an enterprise SaaS company delivering solutions at the nexus of quantum tech and AI. Based in Palo Alto, the inspiration for Sandbox AQ and some of the team originated at Alphabet Inc. in 2016. Sandbox AQ launched as an independent, venture-backed entity in 2022. For more information, visit www.sandboxaq.com.
