This second close brings its oversubscribed Series A round to a total of $27 million. The new funding follows strong interest from both customers and investors, and according to the company reflects its commercial momentum and recent technological progress.
QuantWare develops VIO, a breakthrough technology that solves key bottlenecks in scaling quantum processors and helps to pave the way to quantum computers with over one million qubits in a single processor. By using VIO, quantum processors with orders of magnitude more qubits can be made. Because the processing power of quantum processors scales exponentially, this allows QuantWare’s customers to build exponentially more powerful quantum computers.
The additional capital will accelerate the build-out of QuantWare’s chip fabrication facilities and it will also be used to expand the team and recruit new talent to join the company’s fast-growing organisation.
“VIO plays a critical role in the future of quantum computing,” said Matthijs Rijlaarsdam, QuantWare’s CEO. “We’re now building key partnerships across the quantum ecosystem to deliver 1m qubit systems in the coming years. This additional funding accelerates that momentum.”
QuantWare is helping to drive the development of quantum and does so by leveraging its foundry platform by providing its VIO technology through its own designed processors, and via Foundry- and Packaging Services.
QuantWare has developed a global customer base with customers in 20 countries worldwide.
