ColdQuanta, Inc., based in Boulder, CO, announced on November 22 it has closed $10M in additional seed round equity financing from its current investors, Maverick Ventures and Global Frontier Investments. This brings the total investment in the seed round to $16.75M. The funding will be used to advance the development of ColdQuanta’s cold atom Quantum Core™ technology, the foundation for the company’s development of quantum computers and real-time quantum signal processing and positioning systems.
Over the past 18 months, ColdQuanta
has also been awarded over $7M of U.S. government contracts for a variety of
applications of ColdQuanta’s cold atom technology. This brings ColdQuanta’s
cumulative R&D funding from government contracts and grants to approximately
$30M.
“The latest commitment from our
investors underscores the enormous potential of quantum systems, and of
ColdQuanta’s opportunity to become a major provider of quantum technology
across a wide spectrum of applications,” said Bo Ewald, CEO of ColdQuanta. “We
are extremely appreciative of the support from Maverick Ventures, Global
Frontier Investments, and our U.S. government customers, as it has been
instrumental in enabling us to advance our Quantum Core technology and
accelerate our quantum roadmap.”
“Since we made our initial investment in ColdQuanta, the company has continued to execute at a very high level, and their foundational cold atom technology continues to show highly compelling results,” said Matthew Kinsella, managing director, Maverick Ventures. “We believe that quantum systems will transform both industries and people’s lives in the future, and we see a major role for ColdQuanta in aiding this transformation.”
Source: ColdQuanta
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