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HomeBusinessQuantum Machines Raises $50M in a Series B Round of Funding 2022

Quantum Machines Raises $50M in a Series B Round of Funding 2022

50m atomicosawersventurebeat: Quantum computing, a potentially ground-breaking new technology that promises to solve complex problems more quickly and efficiently than traditional computers, is set to take off. Quantum machines will be the next generation of supercomputers for deep learning, machine learning and artificial intelligence in addition to many other potential applications.

The company Quantum Circuits, Inc. (the “Company”), which is a spin-off of the White Sands National Laboratory, is focused on developing precision quantum computing technology. In March, the Company announced that it had successfully built a prototype quantum computer with eight qubits and had demonstrated error rates of less than .0003 percent. The proof-of-concept demonstration revealed clear path to the goal of an error-free, universal quantum computer with 51 qubits.

The Company’s quantum computer is designed to address complex problems, such as modeling financial data or weather forecasting. But the technology also holds promise in other areas, including medicine, chemistry, energy and security where high-performance computing can have a dramatic impact.

On April 19th, 2016 the Company announced it had closed on a $50 million Series B financing round led by several large investors. The capital will allow the Company to build a quantum computer with 51 qubits and to begin software development. The Company plans to open source its core quantum control software, allowing developers and researchers around the world to advance the field of quantum computing.

“We are absolutely delighted that leading investors have contributed their support for our vision of a universal quantum computer,” said Steve Bressler, CEO of Quantum Circuits. “We are firmly committed to bringing this technology to the world.”

About Quantum Circuits, Inc

Quantum Circuits, Inc. is focused on designing and building a quantum computer based on superconducting qubits which will be used as a prototyping platform for quantum computing systems, and for performing quantum simulations of materials. Its quantum computing technology will have broad applications in areas including artificial intelligence, machine learning, and big data analytics.

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