Qolab, Inc. Raises $16M in Series A Funding for Superconducting Quantum Computing

Qolab, Inc., a leader in superconducting quantum computing, has secured over $16.0 million in its Series A financing round. The investment was led by Octave Ventures, with co-investment from the Development Bank of Japan Inc. (DBJ), Wisconsin Alumni Research Foundation (WARF), and Phoenix Venture Partners.

The funding represents a significant step in advancing scalability in quantum systems as part of Qolab’s mission to develop utility-scale quantum computing technology. Qolab's CEO, Alan Ho, highlighted the company's ability to leverage both domestic and international support, emphasizing the strategic goals in fostering cutting-edge advancements.

 The funding will enable Qolab to expand its team of quantum scientists and engineers, accelerate development cycles, and scale its superconducting quantum processors. Qolab also plans to deepen its semiconductor partnerships to bring scalable quantum computing technology to market.

Source: Business Wire