$230M Raised for Fault-Tolerant Quantum Computers$230M Raised for Fault-Tolerant Quantum Computers

QuEra Computing has secured $230 million in funding to accelerate the development of commercially viable neutral-atom quantum computers.

Google, via its Quantum AI business unit, SoftBank, Valor Equity Partners and existing investors participated in the funding round, with $60 million contingent on satisfying a prerequisite funding condition, which is currently in progress.

The new financing would enable QuEra to expand its team, enhance production and test capabilities, broaden its customer base and further its mission to build fault-tolerant, scalable quantum computers.

"This round represents a significant milestone for QuEra as we continue to deliver on our promise of scalable, fault-tolerant quantum computing," said QuEra interim CEO Andy Ory.

"Since our last funding round in 2023, we have achieved impressive scientific, technical and commercial milestones, which have dramatically increased the value of our business. 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."

QuEra said the financing validates its technical achievements, particularly its collaboration with leading researchers, including Misha Lukin, Markus Greiner and their teams at Harvard, and Vladan Vuletic and his team at MIT.

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QuEra's growing commercial success with key customers, including Japan's National Institute of Advanced Industrial Science and Technology (AIST), coupled with new strategic partnerships, has further strengthened the company's position in the quantum computing space.

"The transformative potential of quantum computing is immense and QuEra is uniquely positioned to make it accessible and impactful," said SoftBank Investment Advisors managing partner Kentaro Matsui.

"SoftBank Vision Fund is thrilled to invest in a company that is shaping the future of computation as the next step of AI."

QuEra's progress aligns with the increasing market demand for fault-tolerant quantum systems, which are poised to revolutionize industries including finance, pharmaceuticals, logistics and cybersecurity.