Aug. 15th, 2024 -- Quantum Circuits, Inc., announced it has secured a final Series B investment round of more than $60 million, providing additional capital support as the company prepares to commercialize its quantum systems with an industry first – error detection built into a more powerful qubit for scalable, higher-fidelity computing.

The investment is led by ARCH Venture Partners, F-Prime Capital, Sequoia Capital, and Hither Creek Ventures. The Series B round also includes investment from Canaan Partners, Fitz Gate Ventures, In-Q-Tel (IQT), Osage University Partners, Connecticut Innovations, Tao Capital Partners, and Tribeca Venture Partners.

Quantum Circuits is a spinout from Yale University, including Rob Schoelkopf, the Sterling Professor of Applied Physics at Yale and one of the founders of the superconducting quantum computing field. The Series B investment provides Quantum Circuits with additional latitude to engage lead customers and set commercial go-to-market plans for its unique quantum systems. The final closing follows the company’s recent appointment of President and CEO Ray Smets and delivery of cloud-based simulation for quantum applications with built-in error detection.

These systems are based on a novel superconducting architecture that solves one of the most pressing problems in quantum computing – error detection and correction. Its powerful dual-rail qubit with built-in error detection is an industry first. Quantum Circuits’ unprecedented approach provides greater accuracy, performance, and scalability for quantum systems, accelerating the path to consistent, repeatable computing results that are a prerequisite for commercially viable systems.

“At Quantum Circuits, we are delivering the industry’s first full-stack quantum computing solution with built-in error detection to realize reliable and trusted quantum computing at scale,” Ray Smets said. “By putting the power of error detection and real-time control into the hands of algorithm developers, we will accelerate their ability to create new solutions and achieve better results needed for commercial applications. The full Series B investment underscores the confidence in our approach.”

“The founding goal for Quantum Circuits has always been to focus on the biggest challenge for quantum computing – to deliver reliable fault-tolerant and scalable quantum computers,” said Rob Schoelkopf, Quantum Circuits’ founder and Chief Scientist. “We take the strategy of ‘correct first, then scale,’ using our built-in error detection and correction.”