Rigetti, Quantum Machines, QuSecure Received Roughly $88M in March

Rigetti, Quantum Machines, QuSecure Received Roughly $88M in March

Startup Funding: March 2020

Key points…

Rigetti Computing raised $71M in a Series D funding round led by Bessemer Venture Partners and joined by Morpheus Ventures. The Berkeley, CA, company designs and manufactures quantum integrated circuits for integration into existing cloud infrastructure. It also develops algorithms focused on computational chemistry and machine learning, with total funding reaching $190M. The company acquired QxBranch in 2019 and recently won a $8.6M DARPA grant to demonstrate practical quantum computing.

Quantum computing was another hot area, with three companies bringing in ~$88M together.

Quantum Machines raised $17.5M for its quantum computing platform. Comprised of specialized hardware, software tools, and a programming language, the platform aims to make it easier to code and run quantum algorithms and experiments regardless of which quantum technology is being used. Based in Tel Aviv, the company was founded in 2018. The round was led by Avigdor Willenz and Harel Insurance Investments and joined by previous investors TLV Partners and Battery Ventures, bringing total funding to $23M.

QuSecure raised $50K in funding from the United States Air Force for development of its quantum security and communication products. Based in Menlo Park, CA, QuSecure is a subsidiary of Quantum Thought, a consulting and startup incubator firm.

Source:  SEMICONDUCTOR ENGINEERING.  Jesse Allen,  Startup Funding: March 2020…

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