QuEra Computing, a leader in neutral-atom quantum computing, announced it completed a financing of over $230 million. The funding will be used to accelerate the development and production of large-scale and fault-tolerant quantum computers, reinforcing the company’s position at the forefront of quantum innovation.
This funding comes from new investors, including Google (previously announced), SoftBank Vision Fund 2, Valor Equity Partners, and others. And they join QuEra’s existing investors, including QVT Family Office, Safar Partners, and all other major existing investors, who all participated.
Of the $230 million, $60 million will be received soon upon satisfying a prerequisite funding condition, currently in progress. This funding validates the considerable technical breakthroughs achieved by QuEra in collaboration with Mikhail Lukin, Markus Greiner, and their teams at Harvard, as well as Vladan Vuletic and his team at MIT. And this funding was also made possible by QuEra’s commercial progress with major customers such as AIST, as well as the new strategic partnerships the company has cultivated.
With this funding, QuEra will:
– Accelerate the development of fault-tolerant quantum computer technology.
– Rapidly expand its team of world-class scientists and engineers, with a focus on technical and scientific talent.
– Strengthening build and test capacity to scale up and meet growing demand for high-performance neutral-atom computers.
– Broaden its portfolio of application co-design, cloud, and on-premises engagements with global research organizations, Fortune 500 companies, and government programs.
KEY QUOTES:
“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.”
- Andy Ory, Interim CEO of QuEra
“We believe quantum computing has the potential to revolutionize industries, and QuEra is at the forefront of making this technology accessible and transformative. We are excited to support QuEra as it pioneers the next generation of computation, unlocking new possibilities in AI and beyond.”
- Kentaro Matsui, Managing Partner of SoftBank Investment Advisers
“As early backers of QuEra, we are pleased to both significantly increase our investment and to welcome this new group of outstanding investors. We believe that this new capital will allow QuEra to extend its technological and commercial leadership in fault-tolerant quantum computing.”
- Arthur Chu, QuEra board member and managing member of QVT
“We are deeply grateful for the continued confidence of our existing investors and excited to welcome new strategic partners who believe in our team and share our long-term vision. Their support strongly advances our mission: to accelerate innovation by building scalable, useful, and fault-tolerant quantum computers.”
- Takuya Kitagawa, President of QuEra
“We are pleased to announce this very significant and successful financing. 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.”
- Ed Durkin, CFO of QuEra
