QuEra Computing, a Boston-based neutral-atom quantum computing specialist, has secured over $230 million in new funding to accelerate the development of large-scale, fault-tolerant quantum computers.
New investors, including Google, SoftBank Vision Fund 2, and Valor Equity Partners, joined existing backers like QVT Family Office and Safar Partners. Of the total, $60 million will be received in the near future upon satisfying a prerequisite funding condition, currently in progress. This investment underscores QuEra’s technical breakthroughs reflecting strong commercial traction with major customers like AIST and expanding strategic partnerships.
Funds utilisation
With this funding, QuEra Computing will do the following:
- Accelerate the development of fault-tolerant quantum computer technology.
- Rapidly expand its team of world-class scientists and engineers, with a focus on technical and scientific talent.
- Strengthening build and test capacity to scale up and meet the growing demand for high-performance neutral-atom computers.
- Broaden its portfolio of application co-design, cloud, and on-premises engagements with global research organisations, Fortune 500 companies, and government programs.
Founded by Harvard & MIT scientists
QuEra’s neutral-atom technology is based on the patented research of its scientific co-founders, Professors Mikhail Lukin, Professor of Physics at Harvard, Markus Greiner, Professor of Physics at Harvard, and Vladan Vuletic, Professor of Physics at MIT.
They are joined on the founding team by chip-scale optoelectronic control expert Professor Dirk Englund, Associate Professor of Electrical Engineering and Computer Science at MIT, Dr. Nathan Gemelke, Chief Technology Officer, and Dr. John Pena, a serial hard-tech entrepreneur. This world-class team brings technical and commercial expertise to deliver a scalable quantum computing capability to the world.
Built the world’s largest quantum computer
QuEra developed Aquila, a 256-qubit quantum computer, making it one of the most powerful publicly available quantum machines. Unlike superconducting qubits used by companies like Google and IBM, Aquila leverages individual neutral atoms controlled by lasers, enabling high scalability, reconfigurability, and reduced error rates. Its programmable lattice structure allows for dynamic atom rearrangement, optimising quantum operations for complex problems in optimisation, machine learning, and material science.
“This round represents a significant milestone for QuEra as we continue to deliver on our promise of scalable, fault-tolerant quantum computing,” said Andy Ory, Interim CEO of QuEra. “Since our last funding round in 2023, we have achieved impressive scientific, technical, and commercial milestones, which have dramatically increased the value of our business. This new investment will fuel our next phase of growth, enabling us to deliver large-scale quantum solutions that address critical business challenges for our customers.”
“We believe quantum computing has the potential to revolutionise industries, and QuEra is at the forefront of making this technology accessible and transformative,” said Kentaro Matsui, Managing Partner of SoftBank Investment Advisers. “We are excited to support QuEra as it pioneers the next generation of computation, unlocking new possibilities in AI and beyond.”
“As early backers of QuEra, we are pleased to both significantly increase our investment and to welcome this new group of outstanding investors,” said Arthur Chu, QuEra board member and managing member of QVT. “We believe that this new capital will allow QuEra to extend its technological and commercial leadership in fault-tolerant quantum computing.”
Takuya Kitagawa, President of QuEra, said, “We are deeply grateful for the continued confidence of our existing investors and excited to welcome new strategic partners who believe in our team and share our long-term vision. Their support strongly advances our mission: to accelerate innovation by building scalable, useful, and fault-tolerant quantum computers.”
Ed Durkin, CFO of QuEra, added, “We are pleased to announce this very significant and successful financing. All our major existing investors have shown strong support by participating in this transaction, and we are thrilled to welcome such high-quality and knowledgeable new strategic and financial investors like Google and SoftBank Vision Fund, who share our long-term vision. This funding structure, coupled with our growing organic revenue stream, provides flexibility as we hit our development targets and scale production and provides the Company with a very long financial runway over the next several years.”
