Quoherent – a company developing room-temperature edge-capable quantum processors that promise to change quantum computing radically – recently announced the closing of its $4.7 million Series Seed financing. This funding round was led by Morpheus Ventures and joined by Draper Associates, Khosla Ventures, and Alpha Edison.
The proceeds will accelerate the development of Quoherent’s “third-wave” solid-state quantum qubits. And this new capital will supplement diversified funds from the company’s growing customer base – which spans both private and government partners, advancing Quoherent’s mission to deploy the world’s first high-fidelity, scalable quantum processors on mobile platforms.
Quoherent is the culmination of a decade-long research collaboration between its founders, Roberto DiSalvo (CEO), Alton Reich (COO), David Carroll (CTO), and the Wake Forest Center for Nanotechnology and Quantum Materials. And the company has extended its collaborative efforts to various research institutions, aiming to build a robust ecosystem around Quoherent’s quantum technology. With invaluable partnerships with universities, investors, and public and private institutions, Quoherent remains committed to realizing its vision of delivering quantum computing at the edge, when and where it is needed.
KEY QUOTES:
“We’re excited to add the leading disruptive technology venture investors in the world to the Quoherent team. Their resources and expertise will accelerate our roadmap and enable us to deliver industry-changing quantum processors.”
- Roberto DiSalvo, PhD, CEO & Co-Founder of Quoherent
“Quoherent’s big vision for fundamentally expanding the capabilities of quantum computing with room temperature, solid state technology represents the bold thinking that motivates our investing.”
- Draper Associates Founder & Managing Partner Tim Draper
“We invest early in companies that are bold and impactful. The Quoherent team is incredibly talented, and if they continue to prove their technology at scale, it will be a radical leap forward for the quantum industry.”
- Kanu Gulati, partner at Khosla Ventures
“Quoherent’s solid roadmap will deliver practical room-temperature processors in a realistic timeframe capable of operating at the edge, where first and second wave quantum computers cannot. This will drive the next wave of quantum computing technology and surpass classical computers.”
- Damien Petty, Partner at Morpheus Ventures and new board director at Quoherent
