Rigetti Computing Announces Its Going Public Through $1.5bln SPAC Deal

IonQ is a developer in trapped ion quantum computing founded in 2015 that actively applies its technology to the aerospace and defense sectors. The company empowers satellite-based quantum networks and quantum enabled drones to improve positioning, navigation, and timing resilience in GPS denied environments, and collaborates with industry leaders like Airbus to optimize aircraft loading.

Rigetti Computing develops integrated quantum computers and superconducting processors specialized for complex aerospace optimization and satellite communication tasks, including collaborations with the U.S. Air Force. Founded in 2013, the firm produces modular, multi-chip processors internally and provides cloud-based access for large-scale, complex simulations.

Bessemer Venture Partners (BVP) is one of the oldest and most established venture capital firms in the world, tracing its roots to 1911 as a private family office created by Henry Phipps Jr. Formally establishing itself as a dedicated venture capital firm in the 1970s and opening a Silicon Valley office in 1975, the firm now manages over $19-20 billion in assets and specializes in early-stage and growth investments across sectors including cloud computing, cybersecurity, fintech, and AI. With a global presence through offices in San Francisco, New York, Boston, Bangalore, and Tel Aviv, BVP has helped scale hundreds of companies, with a portfolio boasting over 150 IPOs, including notable successes such as Shopify, LinkedIn, Pinterest, Twilio, and Yelp.

Amazon Braket – A fully managed service that allows scientists, researchers, and developers to begin experimenting with computers from multiple quantum hardware providers in a single place. Bra-ket notation is commonly used to denote quantum mechanical states, and inspired the name of the service.

The Defense Advanced Research Projects Agency (DARPA) is an independent research and development agency within the U.S. Department of Defense (DoD) established in 1958 to prevent and create strategic technological surprises for national security. Operating with a relatively small staff of program managers who are empowered to take high-risk, high-reward approaches, DARPA functions by funding cutting-edge research in academia, industry, and government laboratories rather than conducting research in-house. Its mission focuses on creating revolutionary technologies—such as the Internet (ARPANET), stealth technology, GPS, and mRNA vaccine platforms—that transition into practical military and civilian applications. DARPA programs are typically finite in duration and demand transformational breakthroughs rather than incremental improvements, positioning the U.S. at the forefront of technological innovation.

The National Aeronautics and Space Administration (NASA) is the U.S. government agency driving pioneering research and technological development in both atmospheric flight (aeronautics) and space exploration (astronautics). NASA acts as a research organization, utilizing advanced wind tunnels, supercomputing, and flight test laboratories to advance aircraft aerodynamics, propulsion, and materials, while simultaneously involved in the design, construction, and operation of launch vehicles and spacecraft for deep space exploration. Through its aeronautics research directorate, the agency works to improve the safety, efficiency, and environmental impact of aviation, whereas its space programs focus on developing cutting-edge flight systems, robotic explorers, and human transportation capabilities.

The mission of the Department of Energy is to ensure America's security and prosperity by addressing its energy, environmental, and nuclear challenges through transformative science and technology solutions. In September, 2022, Research supported by ASCR demonstrated that classical machine learning algorithms can accurately predict ground state properties and classify quantum phases of matter using data generated from quantum experiments. In November, 2022, Research supported by Q-NEXT revealed that the performance of a sensor network is constrained by the intrinsic noise associated with the quantum states used in the network. In March, 2023, Research funded by DOE SC NP achieved the first experimental observation of entanglement between dissimilar particles, specifically positive and negative pions. In August, 2023, Research funded by DOE SC BER demonstrated strong preservation of entanglement in a two-photon absorption process involving organic molecules, offering a new approach for developing quantum light-based spectroscopy and microscopy.