Top Quantum Investment, Financial Stories of 2022

Analysis chart of financial data

The quantum industry was one of the few sectors that did not suffer a serious setback in capital market fund raising. The totals for 2022 nearly equaled the amount invested in 2021, which was a blistering year for fundraising.

We will look at just some of the top stories here.

Xanadu Closes $100 Million (US) Series C

Xanadu announced it has raised $100 million USD in Series C financing. Georgian led the round with participation from Porsche Automobil Holding SE, Forward Ventures, Alumni Ventures, Pegasus Tech Ventures, Silicon Valley Bank, along with previous investors Bessemer Venture Partners, Capricorn, BDC Capital, and Tim Draper. To date, Xanadu has raised $250M USD, bringing the company valuation to $1 billion USD.

ColdQuanta Announces $110 Million Series B

ColdQuanta (Infleqtion) announced a $110 million Series B round of funding to continue commercializing the company’s product portfolio, including quantum computing, quantum algorithms and applications, atomic clocks, sensors, and components. Christopher Galvin, former Motorola chairman and CEO, joined the company’s board of directors, and is also now an investor in ColdQuanta.

“ColdQuanta’s core technology has a wide range of applications on the quantum technology spectrum. They’re not just tackling quantum computing, they’re also advancing quantum technology in developing the next generation of atomic clocks and radio frequency (RF) technologies, which provide significant advantages over classic antenna-based receivers.” — Christopher Galvin, Cold Quantum director.

China’s Origin Quantum Secures $148 Million Series B Funding Round

Origin Quantum, a quantum computing startup based in Hefei, China and founded in 2017 by Professor Guo Guoping and a team from the quantum information laboratory at the Chinese Academy of Sciences, closed a $148-million Series B (1 Billion Yuan) funding round in July of 2022.

Finnish Startup IQM Raises €128M in Series A2 Funding

IQM Quantum Computers (IQM) raised €128 million ($128m) in Series A2 funding led by World Fund to expand its international business and accelerate product development to tackle the world’s most pressing problems, especially in the climate crisis. IQM is a Finland-based company that provides on-premises quantum computers for supercomputing data centres and research labs.

Atom Computing Raises $60 Million Series B to Build Second-Generation Quantum Computer

Atom Computing, the creators of the first quantum computer made of nuclear-spin qubits from optically-trapped neutral atoms, today announced closure of a $60M Series B round. Third Point Ventures led the round, followed by Primer Movers Lab and insiders including Innovation Endeavors, Venrock and Prelude Ventures. Following the completion of their first 100-qubit quantum computing system with world-record 40 second coherence times.

Terra Quantum AG Extends Series A Funding to $75 Million

Terra Quantum AG, a globally leading quantum technology company, announced it extended its Series A funding round to $75 million, as well as its research offering a ground-breaking solution to the longstanding challenge of efficient power devices for nanoelectronics. Terra Quantum is the first company to reveal the underlying mechanism of ferroelectric-based negative capacitance while also sharing methods for its practical realization. This is a tremendous milestone for hardware design and lays the foundation for next-gen technology.

German-Based EleQtron Raises €50 million

German-based eleQtron has raised over €50 million in new funds for developing its quantum computers, according to Tech EU. Participants in the raise included Earlybird and Siegerlandfonds. eleQtron develops and operates quantum computers based on trapped ions, RF control and Magnetic Gradient Induced Coupling, or MAGIC.

Analysts’ Report Suggests Quantinuum’s Potential Valuation Could Reach $37 Billion

An equity market analyst firm estimates that Quantinuum could offer a significant return for Honeywell investors, with a valuation that could reach well into the billions. In a paper acquired by The Quantum Insider, Vertical Research Partners reported that, based on their assumptions and projections, the discounted equity value of Quantinuum could reach circa $37 billion within a decade

“The valuations are heady but the projections are based on what could be an addressable market that would be worth trillions spread over a number of industries. By 2050, Honeywell expects a $1 trillion in use cases for quantum and Quantinuum could address more than half — $550 billion — of that total addressable market.”

Quantonation Ventures Announces The Final Closing of Its €91 Million Quantum Technologies Fund

Quantonation Ventures announced the final closing of its first fund dedicated to Quantum Technologies at € 91 million, exceeding its initial target of €50 million. Quantonation reported that within three years has been able to put on a launch pad the most promising Quantum Tech companies in the world and establish itself as the largest investor in the field.

QBN and CM-Equity Sets Up €100 Million Quantum Technologies Fund

CM-Equity and Quantum Business Network (QBN) announced the creation of a new deep tech venture fund to invest in early-stage companies and scale-ups mainly within Europe. Black Quant Fund will use the €100 million for pre-seed to series A and later investments to accelerate technological advancements and the commercialization. The European Commission and national governments first and foremost Germany and France ramp up their investments to catch up in the global race with the US and China.

D-Wave Begins Trading, Secures $150 Million in Long-Term Funding

Quantum Computing pioneer D-Wave Quantum spent its first day as a publicly traded company by enjoying a 24% jump before closing at $10 per share, for a 15% gain. Alan Baratz, CEO, D-Wave Quantum, considered the listing on the New York Stock Exchange not just a significant and historic milestone for the company, but also a critical step toward its future.

“From its inception more than 20 years ago, D-Wave has focused on delivering quantum computing products and services that provide the fastest path to practical, real-world applications with customer value.” — Alan Baratz

Silicon Quantum Computing Prepares For a $130 Million (AUS) Funding Round

Silicon Quantum Computing (SQC) reportedly kicked off a $130 million (AUS) funding round in 2022. The company has already been the recipient of $83 million in seed backing from the federal and NSW governments, Telstra, Commonwealth Bank of Australia and UNSW. Simmons is currently the Scientia Professor of quantum physics at the University of NSW.

Quantum Algorithm Design Pioneer Classiq Announces $33 Million in Series B

Classiq raised $33 million in a Series B round. Investors include Hewlett Packard Pathfinder, the venture capital program of Hewlett Packard Enterprise (HPE); Phoenix, a $60-billion insurance company; Spike Ventures, a Stanford alumni investor group; and Samsung NEXT, the investment arm of Samsung.

These stories were selected based on the dollar amounts of the deals and readership feedback, including social media interaction and reads on the website itself.

 

Matt Swayne

Matt Swayne

Matt Swayne is a contributor at The Quantum Insider. He focuses on breaking news about quantum discoveries and quantum computing.

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