D-Wave Systems Closes $30M Equity Funding

Published On October 4, 2012 |

D-Wave Systems, Inc., a near Vancouver, Canada-based commercial quantum computing company, has closed a $30m equity funding.

Bezos Expeditions, the personal investment company of Jeff Bezos, and In-Q-Tel (IQT), the strategic investment firm that delivers innovative technology solutions in support of the missions of the U.S. Intelligence Community, have joined current investors Business Development Bank of Canada, Draper Fisher Jurvetson, Goldman Sachs, Growthworks, Harris & Harris Group, International Investment and Underwriting , and Kensington Partners Limited.

The company intends to use the capital to augment its commercial operations and further increase its capabilities.

Founded in 1999 and led by Vern Brownell, CEO, D-Wave aims to integrate new physics and computer science discoveries into new approaches to computation. Its flagship product, the D-Wave Oneā„¢, is built around a novel type of superconducting processor that uses quantum mechanics to massively accelerate computation. The company’s U.S. offices, as well as its superconducting chip foundry, are located in Silicon Valley.

FinSMEs

04/10/2012

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