D-Wave Systems raises $30M to keep commercializing its quantum computer

by tech on July 11, 2014

D-Wave Systems, the controversial poster child of commercial quantum computing, has raised $30 million in venture capital from Fidelity Canada Fund, Goldman Sachs, Business Development Bank of Canada and Draper Fisher Jurvetson. The company, which is headquartered in Vancounver, British Columbia, , has now raised $160 million since it was founded in 1999.

Although debate over the quantum properties of D-Wave’s system remains an ongoing affair (see, for example, these two studies — here and here — published in the past few months), researchers do seem generally excited about the types of problems D-Wave’s computer might be able to solve given the right algorithms.

And regardless if it’s ultimately determined to be a true quantum computer, D-Wave is still an interesting company to watch. The company is already working with partners in the financial services and life sciences spaces to apply the D-Wave computer to their problems, and it’s promising to deliver its infrastructure as a cloud computing service to maximize its reach. Lockheed Martin, Google and NASA are the only publicly known owners of D-Wave computers today.

For more on the types of workloads D-Wave expects its system will be able to handle, check out this Structure Data interview with D-Wave CEO Vern Brownell.

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