Insider Brief
- Quoherent has raised about $2.4 million in funding in a recent seed round.
- The information was released through a Security and Exchange Commission Form D.
- The company reports its developing a portable quantum computer processor that relies on topological insulators.
Quoherent has raised about $2.4 million in funding in a recent seed round, according to information filed with the U.S. Securities and Exchange Commission (SEC).
The company, based on its SEC Form D, indicated the seed round total offering amount was $4,699,999, of which the total amount sold was $2,350,001.
The Huntsville, Alabama-based company is reported to be developing a portable quantum computer processor that relies on topological insulators for its qubits. According to their LinkedIn site, these insulators protect its quantum state from external noise, so that the computers can work at a wide range of temperatures and need fewer qubits for error correction.
Founders include Roberto Di Salvo, CEO and Alton Reich, COO.
According to the SEC, a Form D — the “D” in Form D stands for “declaration” — is a document that is filed with the by companies that are raising capital through the sale of securities in a private placement, as opposed to a public offering.
The form is used to declare exemptions from the typical securities registration requirements under Regulation D of the Securities Act of 1933.
For more market insights, check out our latest quantum computing news here.
