Boston, Massachusetts-based QuEra Computing, a developer of neutral-atom quantum computing, has completed a financing round exceeding $230m.
This investment will be channelled towards expediting the development and production of large-scale, fault-tolerant quantum computers.
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The funding round involved new investors, including Google, SoftBank Vision Fund 2, Valor Equity Partners, and others.
It also saw participation from existing investors such as QVT Family Office, Safar Partners, and all other principal existing investors.
QuEra CFO Ed Durkin said: “All our major existing investors have shown strong support by participating in this transaction, and we are thrilled to welcome such high-quality and knowledgeable new strategic and financial investors like Google and SoftBank Vision Fund, who share our long-term vision.
“This funding structure, coupled with our growing organic revenue stream, provides flexibility as we hit our development targets and scale production and provides the Company with a very long financial runway over the next several years.”
QuEra expects to receive $60m of the total funds shortly, contingent upon the fulfilment of an ongoing prerequisite funding condition.
With the newly acquired capital, QuEra intends to accelerate fault-tolerant quantum computer technology, expand its team of scientists and engineers, and enhance build and test capabilities to scale production.
It also intends to expand portfolio in application co-design, cloud, and on-premises activities with companies, research institutions, and government programmes.
QuEra interim CEO Andy Ory said: “This round represents a significant milestone for QuEra as we continue to deliver on our promise of scalable, fault-tolerant quantum computing.
“Since our last funding round in 2023, we have achieved impressive scientific, technical, and commercial milestones, which have dramatically increased the value of our business.
“This new investment will fuel our next phase of growth, enabling us to deliver large-scale quantum solutions that address critical business challenges for our customers.”
