QuEra Computing, a Boston-based quantum computing company, has raised over $230 million in funding to accelerate the development of large-scale, fault-tolerant quantum computers, with backing from major investors including Google and SoftBank.
QuEra Computing, based in Boston, Massachusetts, has successfully raised more than $230 million in funding to accelerate the development and production of large-scale, fault-tolerant quantum computers. The investment round was led by QVT Family Office and Safar Partners, along with new investors such as Google (with sponsorship from Google’s Quantum AI business unit), SoftBank Vision Fund 2, and Valor Equity Partners.
Of the total raised, $60 million will be received once a prerequisite funding condition is met, a process that is currently in progress, according to the company’s statement.
Founded in 2018, QuEra uses neutral atoms to develop its quantum computers, building on research from Harvard University and the Massachusetts Institute of Technology (MIT). The company aims to use this new funding to strengthen its team, focusing on hiring additional scientists and engineers to support technical and scientific development.
The company also plans to expand its portfolio with application co-design, along with both cloud and on-premises engagements. Strengthening its build and test capacity is also part of the strategy, allowing QuEra to scale up to meet the growing demand for high-performance neutral-atom quantum computers.
This new investment will fuel our next phase of growth, enabling us to deliver large-scale quantum solutions that address critical business challenges for our customers.”
Andy Ory, QuEra’s interim CEO
One key focus area for QuEra’s quantum computing technology is the global financial services sector. The company recognizes the potential of quantum computing to revolutionize areas such as risk analysis, portfolio optimization, fraud detection, and complex financial modeling, all of which are critical components of the financial services industry.
