The round was led by New Enterprise Associates (NEA) and GV (formerly Google Ventures), with participation from new strategic investors. In conjunction with the funding, Ron Bernal, Venture Partner at NEA, and Blake Byers, General Partner at GV, Jeong Kim, former president of Bell Labs, and Andrew Schoen, Principal at NEA, will join IonQ’s board.
The company will use the funds to continue to develop its operations.
Co-founded by Christopher Monroe of University of Maryland and Jungsang Kim of Duke University and led by David Moehring, PhD, CEO, IonQ is developing general-purpose quantum information processors to support a broad array of applications across a variety of industries.
Building on the pioneering work of the co-founders, the company now plans to bring general-purpose quantum computers to market by late 2018.
Moehring, who joined as CEO in 2016, was most recently at U.S. Intelligence Advanced Research Projects Activity (IARPA), charged with oversight of government-sponsored quantum computing initiatives.
John Preskill, the Director of the Institute for Quantum Information at Caltech, and Jagdeep Singh, founder and CEO of QuantumScape, Lightera Networks, and Infinera, are serving as advisors to the company.