Quantum Circuits, a spinout from Yale University specializing in superconducting quantum computing, has closed its Series B funding round with more than $60 million. This final investment round aims to advance the company's efforts to commercialize its quantum systems, which feature an industry-first: a powerful qubit with built-in error detection, addressing one of the critical challenges in quantum computing—error correction.
The funding round was led by ARCH Venture Partners, F-Prime Capital, Sequoia Capital, and Hither Creek Ventures, with participation from several other investors including Canaan Partners and In-Q-Tel. The new capital follows the recent hiring of Ray Smets as President and CEO, and will support the company's go-to-market plans and customer engagement strategies.
Investment Total: Over $60 million in Series B funding.
Lead Investors: ARCH Venture Partners, F-Prime Capital, Sequoia Capital, Hither Creek Ventures.
Technology Focus: Superconducting quantum computing with built-in error detection.
Recent Leadership: Ray Smets appointed as President and CEO.
Core Innovation: Industry-first dual-rail qubit with error detection, aimed at scalable, reliable quantum computing.
"By putting the power of error detection and real-time control into the hands of algorithm developers, we will accelerate their ability to create new solutions and achieve better results needed for commercial applications," said Ray Smets, CEO of Quantum Circuits.
https://quantumcircuits.com/quantum-circuits-secures-series-b-investment/
