ColdQuanta, a quantum startup headquartered in Boulder, Colorado with additional offices in Chicago, Illinois, Madison, Wisconsin, and Oxford, UK has received a $110 million Series B funding to advance and commercialize its technology. The funding round was led by LCP Quantum with additional participation from In-Q-Tel, Sumitomo Corporation of America, Breakthrough Victoria, BOKA Group Holdings I LP and existing investors  Foundry Group, Global Frontier Investments, Maverick Ventures and others.

ColdQuanta is a little different from other quantum hardware startups because they not only participate in the quantum computing market, but also have products based upon their cold atom technology in the quantum sensor, quantum networking, and component markets. They also participate in the quantum software market with their recent acquisition of Super.Tech last May. They have been in business since 2007 and still sell certain components, like glass cells, to other quantum companies. One advantage of this diversity is that it does give them some near term revenue, particular with products like quantum clocks and other sensors. There may also be some additional technical synergy between products in the different sectors. Just last week, ColdQuanta announced a partnership with Australian funding agency Breakthrough Victoria to establish the ColdQuanta-Swinburne Quantum Technology Centre at Swinburne University in Melbourne, Australia.

Additional information about this new funding is available in a news release which can be accessed here.

November 1, 2022