2022Q3 quantum company funding up nearly 100- YoY, led by Hongyuan Quantum, D-Wave
According to ICV, a leading frontier technology consulting firm, in the third quarter (Q3) of 2022, global quantum companies closed 14 funding rounds totaling $488 million, averaging about $34.88 million per round, a significant increase from Q2's total funding of $253 million and average funding of about $15.84 million per round, up 93% and 120% sequentially.
To date, global quantum companies have raised nearly $1.5 billion in 2022.
The following are details of the Q3 financing.
BosonQ Psi: $525,000
BosonQ Psi (BQP), a SaaS quantum software business, has raised a $525,000 angel round led by 3to1 Capital with participation from key industry leaders in India and the US.
The software startup will use the fund to accelerate product development and expand into markets in Asia, North America and Europe to meet the growing demand for its products. In addition, the startup will invest the funds to hire international talent for its technology, sales and marketing teams.
Details.
https://www.bosonqpsi.com/post/bqp-preseed-news
IQM: €128 million
The round was led by World Fund, with Bayern Kapital, EIC Fund, OurCrowd, QCI SPV, Tofino and Varma as well as existing investors Maki.vc, Matadero QED, MIG Fonds, OpenOcean, Salvia GmbH, Santo Venture Capital GmbH, Tencent, Tes and Vsquared also participated in the financing.
IQM currently builds superconducting quantum processors and focuses on providing native full-stack processors that can be installed in research labs and supercomputing centers. IQM also takes an application-specific approach to create machines optimized for specific use cases through co-design with customers.
Details：
https://meetiqm.com/articles/press-releases/european-leader-in-quantum-computing-iqm-raise
s-128m-led-by-world-fund/
Atlantic Quantum: $9 million
Atlantic Quantum is a spin-off of the MIT Engineering Quantum Systems (EQuS) group founded in early 2022. They are developing scalable, fault-tolerant quantum processors using superconducting technology that will improve coherence times by an order of magnitude while employing a control scheme that will make scaling easier.Atlantic's seed round was led by The Engine, with Thomas Tull, Glasswing Ventures, Future Labs Capital and E14 also participated. The company will use the funding to expand its technology teams in Cambridge, Massachusetts and Gothenburg, Sweden.
Details.
https://www.businesswire.com/news/home/20220721005037/en/Atlantic-Quantum-Emerges-from-MIT%E2%80%99s-Engineering-Quantum-Systems-Lab-Raises-9M-Seed-Funding-to-Make-Large-Scale-Quantum-Computing-a-Reality
Origin quantum: 1 billion RMB
In July, Hongyuan Quantum completed a new round of equity financing, with this round raising nearly RMB 1 billion. This round of financing was participated by Red Earth Fund under Deep Ventures, and the rest of the follow-on new and old shareholders include 17 well-known domestic investment institutions such as CITIC Securities, CICC, BOC Investment, CCB International, Anhui Science Transfer Fund, China Science and Technology Yucheng, Yuanfang Fund, Sheng Koon Capital, etc.
Origin Quantum was founded in September 2017, and the team technology originated from the Key Laboratory of Quantum Information, Chinese Academy of Sciences, China University of Science and Technology. Currently headquartered in Hefei High-tech Zone, it has branches in Beijing, Chengdu and Shenzhen.
Details：
https://mp.weixin.qq.com/s/pFqBwcfoSRoknvdPr7w9HA
iPronics, affiliated with the Universidad Politécnica de Valencia, is the leading photonic computing company that has developed the first general-purpose photonic processor that can be reconfigured by software. The company announced on July 27, 2022 a €3.7 million financing led by Amadeus Capital Partners with the participation of Caixa Capital Risc.
iPronics introduces a new generation of photonic circuits with a grid of on-chip waveguides and tunable beam couplers that can be applied to different situations using software to program general-purpose hardware. The funding program is used to build reconfigurability of the chip while enabling photonic processing with lower power consumption and latency, opening up new commercial applications.
Details：
https://thequantuminsider.com/2022/07/30/ipronics-raises-e3-7-million-to-accelerate-the-adoption-of-programmable-photonic-chips/
Abbelight: $59,000
Abbelight, from France, focused on quantum sensing and imaging, received $59,000 in financing led by Pleiade Venture and EASME-EU Executive Agency for SMEs on August 1, 2022. The company plans to delve into quantum sensing technology for single molecule localization and launch new products in the future.
Details：
https://www.abbelight.com/news/?cat=products
QLM: £12 million
QLM Technology Ltd announced on August 4, 2022 the closing of its Series A funding round and the signing of a partnership agreement with Schlumberger, the world's largest oilfield technology services company.
Through the strategic partnership, QLM's technology will become part of Schlumberger's new emissions solutions (SEES) business for the oil and gas industry.QLM's differentiated LiDAR technology complements mobile monitors by providing accurate and sensitive measurements in situations where continuous monitoring is required, and its ability to quantify flare efficiency will ensure that flares that have not yet been removed are in optimal condition.
Details：
https://qlmtec.com/qlm-closes-investment/
D-Wave Quantum: $150 million
Canadian quantum computing pioneer D-Wave Quantum has entered into an agreement with Chicago-based Lincoln Park Capital Fund to purchase options on D-Wave Quantum common stock for an indefinite period of time over the next three years for a total of up to $150 million.
Details：
https://thequantuminsider.com/2022/08/09/d-wave-quantum-up-in-trading-secures-150-million-in-long-term-funding/
CamGraPhIC: £800,000
CamGraPhIC, a Cambridge University spin-out company developing graphene-based photonics technology, has raised £813,475 through the Enterprise Investment Scheme (EIS). This brings its total funding to £1.26 million, which was raised through an equity funding round led by Frontier IP and Wealth Club from existing and new investors. The company is developing graphene-based photonics technology for scalable, faster and cheaper devices at the heart of optical transceivers, high-speed data and telecoms networks. The technology has attracted the interest of multinational companies in the semiconductor and telecom sectors and is currently undergoing customer testing.
Details：
https://thequantuminsider.com/2022/08/09/cambridge-university-spin-out-raises-over-800k-in-funding/
EeroQ: $7.25 million
EeroQ, a quantum computer chip design company, announced its first institutional funding round after five years of development, led by multi-stage investment firm B Capital's Ascent Fund, with participation from V Capital, Calibrate Ventures, Alumni Ventures, Unbound Ventures and Red Cedar Ventures in a total seed round of $7.25 million.
The funding announcement is the latest milestone for EeroQ, which recently hired Princeton Electrical and Computer Engineering Professor Steve Lyon as Chief Technology Officer and built a 9,600 square foot state-of-the-art lab in Chicago.
Details：
https://thequantuminsider.com/2022/08/23/eeroq-announces-7-25-seed-funding-round-for-its-helium-quantum-chip-design/
Kipu Quantum: €3 million
Kipu Quantum, a German quantum computing startup based in Karlsruhe and Berlin, has closed a €3 million funding round. The round was co-led by Quantonation, a venture capital firm focused on quantum technology, Entrada Ventures, a US-based deep tech investor, and First Momentum Ventures, a Karlsruhe-based early stage investor.
Kipu Quantum will use the funding to design quantum computing products to meet the needs of customers in diverse verticals such as chemicals, pharmaceuticals, optimization, finance and logistics.
Details：
https://www.quantonation.com/2022/09/15/kipu-quantum-closes-eur-3m-funding-round-and-joins-quantonations-portfolio/
Classiq: $13 million
Classiq, a quantum computing software company, announced on September 20, 2022 that Canadian-Israeli VC Awz Fund has expanded its Series B funding round from an initial $36 million to $49 million, which will be the largest quantum software investment round to date.
The funding will be used to expand its R&D team (from 50 to 100 employees by 2023) in addition to opening local offices in Japan and Europe. In addition to adding new offices and attracting new customers and investors, Classiq has forged new partnerships this year with Amazon, ColdQuanta and Nvidia to streamline quantum experiments and accelerate enterprise access to quantum advantage.
Details：
https://thequantuminsider.com/2022/09/20/classiq-expands-series-b-to-49m-and-announces-japan-and-europe-offices/
Technology: nearly RMB 100 million
In September 2022, Quantum Spin Technology announced the completion of a Pre-B round of financing totaling nearly 100 million yuan, led by Jin Jing Heng Xun Fund and Shenzhen Bay Angel III Fund under Shenzhen Investment Control Donghai, and followed by Shun Ying Investment and old shareholders such as Shenzhen High-Tech Investment. This round of financing is also following the A+ round of strategic investment in January 2021, Quantum Spin Technology again received strategic investment from Shenzhen government capital and industrial capital, the funds raised will be used for technology research and development, team expansion and market expansion.
The addition of new capital and the addition of old capital will provide important support for the accelerated commercialization of Quantum Spin, said Xiang Jingen, founder and CEO of Quantum Spin. In the future, Quantum Spin will continue to adhere to the strategic policy of "walking on two legs" of technology research and development and commercial implementation, to promote the commercialization of the business by technological breakthroughs and innovations; the diversification of application scenarios to feed the iterative innovation of technology and products.
https://www.spinq.cn/newsDetail/SpinQ-completes-series-pre-b-financing
Qunnect: $8 million
Qunnect: Qunnect, dedicated to developing quantum memory for quantum networks, recently received $8 million in Series A funding led by Airbus Ventures, with Quantonation, SandboxAQ, NY Ventures, Impact Science Ventures and Motus Ventures, which will drive Qunnect to provide room temperature components for quantum networks and extend the distance of quantum communication links.
Details：
https://www.prnewswire.com/news-releases/qunnect-raises-8m-in-series-a-funding-led-by-airbus-ventures-301641331.html
