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Strangeworks Lands $24 Million Series A, Continues to Drive Ecosystem Expansion

Strangeworks

Insider Brief

  • Strangeworks, Inc., announced the successful completion of their $24 million Series A.
  • With this investment, Strangeworks expanded its core team and is now able to offer a wider range of technologies beyond quantum computing.
  • Critical Quote: “Five years ago, I took the stage at SXSW for our first quantum computing keynote. Since that day this team has stayed focused on our core mission, continuously beating industry expectations while utilizing only a fraction of the resources compared to the industry. Raising the Series A from these exceptional investors in this challenging economic climate sends a clear message to the market on where enterprise companies are placing their bets in the race to create quantum value.” — Founder and CEO whurley

PRESS RELEASE — Strangeworks, Inc., announced the successful completion of their $24M Series A funding on the 5th anniversary of the company’s public debut at SXSW in 2018. Led by world-class investors who share the company’s mission to empower visionaries to turn “what if” into “what is,” and who have witnessed enterprise customers benefit from the Strangeworks ecosystem, the new funding reaffirms the company’s  go-to-market strategy in the emerging quantum computing market, which is projected to hit $125 billion by 2030.

With this investment, Strangeworks expanded its core team by 40% in Q4 2022 and is now able to offer a wider range of technologies beyond quantum computing, including quantum-inspired, high-performance computing, and artificial intelligence. This allows Strangeworks to provide immediate business value to enterprises while helping them prepare for an ever-changing computing landscape.

“Today’s announcement represents a significant milestone for Strangeworks,” said founder and CEO, whurley. “Five years ago, I took the stage at SXSW for our first quantum computing keynote. Since that day this team has stayed focused on our core mission, continuously beating industry expectations while utilizing only a fraction of the resources compared to the industry. Raising the Series A from these exceptional investors in this challenging economic climate sends a clear message to the market on where enterprise companies are placing their bets in the race to create quantum value.”

”Hitachi identified quantum computing as a key technology to advance society and develops its own quantum technologies and quantum-inspired solutions. Quantum computing has the potential to help solve some of the world’s most pressing problems, from fighting climate change to curing fatal diseases that require far greater computational power than is currently available in classical computers. The Strangeworks platform removes barriers to access quantum and quantum-inspired solutions creating customer value already today,” notes Dr. Norihiro Suzuki, CTO of Hitachi, Ltd. ”Strangeworks allows simple and fast deployment of quantum resources, so customers can focus on the development of business applications. The overwhelming customer interest proves that need,” adds Tobias Jahn, Partner at Hitachi Ventures.

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“Our investment in Strangeworks is well aligned to our mission of solving our customers’ most complex challenges,” said Dan Ateya, president and managing director at RTX Ventures, the corporate venture capital arm of Raytheon Technologies. “We believe Strangeworks’ platform and their ability to make quantum and high-performance computing more accessible can support a wide range of applications in the aerospace, defense, and commercial sectors.”

“Quantum Computing is here, but exploiting its advantages requires rare know-how and lots of capital”, said Ray Lane, Managing Partner of Greatpoint Ventures. “Strangeworks democratizes quantum computing by opening proprietary platforms to consumption-based usage, this is how large tech markets are unleashed”.

The Strangeworks ecosystem is available to everyone today, having passed beta testing by select enterprises in 2022. To learn more, or to get started, visit https://strangeworks.com

For more market insights, check out our latest quantum computing news here.

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Matt Swayne

With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses. [email protected]

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The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

What: GenMat Webinar

Picture of Jake Vikoren

Jake Vikoren

Company Speaker

Picture of Deep Prasad

Deep Prasad

Company Speaker

Picture of Araceli Venegas

Araceli Venegas

Company Speaker

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