QuEra Computing Completes $230M Financing Round

Neutral-atom quantum computing company QuEra Computing has completed a financing round of more than $230 million. The company plans to use the funds to accelerate technological development and rapidly expand its team of scientists and engineers, with a focus on technical and scientific talent, and to strengthen build and test capacity to scale up and meet growing demand for high-performance neutral atom quantum computers.

The financing validates technical advancements achieved in collaboration with Mikhail Lukin, Markus Greiner, and their teams at Harvard as well as Vladan Vuletic and his team at MIT, the company said. The financing additionally follows commercial progress with major customers, such as the Advanced Industrial Science and Technology (AIST, Japan) as well as new strategic partnerships the company has cultivated.

“This funding structure, coupled with our growing organic revenue stream, provides flexibility as we hit our development targets and scale production and provides the company with a very long financial runway over the next several years,” said Ed Durkin, CFO of QuEra.

In addition to technology acceleration, further plans include the broadening of the company’s portfolio of application co-design, cloud, and on-premises engagements with global research organizations, Fortune 500 companies, and government programs, QuEra said.

Last year the company doubled the footprint of its Boston headquarters, struck up partnerships with NVIDIA and Classiq, and launched a collaborative quantum algorithm co-design program. QuEra is also engaged in projects with the UK Quantum Testbed and the Massachusetts High Performance Computing Center.

New investors on the funding include Google, SoftBank Vision Fund 2, and Valor Equity Partners, QuEra said.