QuantWare raises $178 million Series B round

We’re really proud of our portfolio company QuantWare today as it announces a $178 million (€152 million) Series B round.

We’ve backed them from the start as the first check in, and we’re part of this round too: the largest ever private round raised by a dedicated quantum processor company. Significantly, Intel Capital is among the new investors in the Series B.

QuantWare has come a long way in a short amount of time.

This round comes following the announcement of VIO-40K, a quantum processor architecture for 10,000 qubits, 100x larger than the state of the art today. The company is building KiloFab, the world’s largest dedicated quantum open architecture fab, in the Netherlands – strengthening Europe’s position in a value chain that is of key importance to its global strategic autonomy.

QuantWare is the only company that designs, fabricates, and integrates modular quantum processors on an open architecture at an industrial scale. To date, the company has shipped to more than 50 customers across 20 countries, making it the world’s largest commercial QPU supplier by volume.

"The promise of quantum computing, capable of solving humanity's intractable challenges, can only happen once it can be manufactured and deployed at scale. That is exactly what we are building," said Matt Rijlaarsdam, CEO and co-founder of QuantWare.

"VIO-40K will deliver 10,000-qubit processors on an open architecture that the entire ecosystem can build on, and KiloFab gives us the industrial production capacity to meet rapidly growing global demand. This fundraise accelerates QuantWare, and in doing so, advances the entire ecosystem toward hyperscale quantum compute, and we're proud to do so from Europe."

Congratulations to Matt, Alessandro, and the whole QuantWare team.

Look out for more deal news from us very soon.