Quantum Circuits, Inc. has closed a Series B funding round, raising over $60 million to advance its commercialization efforts. The round was led by ARCH Venture Partners, F-Prime Capital, Sequoia Capital, and Hither Creek Ventures, with additional contributions from Canaan Partners, Fitz Gate Ventures, In-Q-Tel (IQT), Osage University Partners, Connecticut Innovations, Tao Capital Partners, and Tribeca Venture Partners.
The funding will support Quantum Circuits’ push to bring its innovative quantum systems to market. The company, a spinout from Yale University, is pioneering an industry-first with its dual-rail qubit architecture that integrates built-in error detection. This advancement addresses a major challenge in quantum computing, aiming to enhance accuracy, performance, and scalability.
CEO Ray Smets highlighted the significance of the investment in accelerating the development of reliable and scalable quantum computing solutions. Founder Rob Schoelkopf emphasized the company’s strategy of prioritizing error correction before scaling to achieve commercially viable systems.
For additional information, you can access the press release Quantum Circuits, Inc. has provided here.
August 15, 2024