D-Wave Systems, a Canadian-based quantum computing startup, has raised $30m in a round of equity funding. The round was led by Bezos Expeditions, which manages Amazon founder Jeff Bezos’ personal venture capital investments and In-Q-Tel, the quasi-corporate venturing unit of the CIA.
D-Wave, which was founded in 1999, is developing commercial quantum computing systems which can cost $10m each. D-Wave raised $14m in series B funding in 2006 and $17m in 2008.
“We are pleased to have such highly regarded investors in our company,” commented D-Wave Chief Executive Vern Brownell.
D-Wave will use the funds to further its hardware success by developing more applications for its D-Wave One quantum computer system.
D-Wave’s existing investors include the Business Development Bank of Canada, Draper Fisher Jurvetson, Goldman Sachs, Growthworks, Harris & Harris Group, International Investment and Underwriting and Kensington Partners.