Sandbox AQ, a software startup developing quantum-computing and artificial-intelligence tools for commercial use, on Tuesday officially spun off from Alphabet Inc.’s Google to become a stand-alone company.

The move was fueled by a “nine-figure” funding round that included Breyer Capital, T. Rowe Price Associates Inc. and Guggenheim Partners LLC, among other investors, the company said. The amount and terms of the deal were not disclosed.

Eric Schmidt, Google’s former chief executive, was named chairman of the new company, and a number of other high-profile investors will serve as advisers, Sandbox said.