ColdQuanta closes year of growth achieving over 140 percent bookings increase

By IQT News posted 01 Feb 2022

(HPCWire) ColdQuanta, a global quantum ecosystem leader, today announced the completion of a milestone year in 2021, with significant momentum across all facets of the business including revenue, headcount, technical milestones, industry partnerships, leadership expansion and more.

“2021 was a successful year for ColdQuanta with unprecedented growth across all aspects of our business,” said Scott Faris, ColdQuanta CEO. “Quantum technology has earned its moment in the spotlight and our ecosystem approach to the market is paying dividends. By doubling down on key business initiatives this coming year and significantly expanding the scope of our quantum solutions, we are bringing to market a differentiated position capable of rapidly delivering on the scalable quantum promise.”

Noteworthy milestones over the last year include:
Over 140% bookings growth from both new and recurring customers and use cases
Over 70% growth in headcount, bolstering the leadership team with key executives from Luminar, Raytheon, Lockheed Martin, Webroot and related industries

Customers:
Won contract with DARPA for Quantum Apertures Program
Secured $3.6 million DARPA contract for the Science of Atomic Vapors for New Technologies (SAVaNT) project
Announced new milestones for more precise inflight navigation systems as part of the High-BIAS2 (High Bandwidth Inertial Atom Source) project
Announced key partnerships with IBM, Strangeworks and Classiq
Achieved technical milestones and honors:
Achieved quantum computer milestone by trapping and addressing 100 qubits in a large, dense 2-D cold atom array
World’s first demonstration of multi-qubit quantum algorithms on a neutral atom quantum computer
ColdQuanta Founder and CTO Dana Anderson awarded 2021 Willis E. Lamb Award for Laser Science and Quantum Optics
Albert quantum signal processing system, which enables the design and prototyping of quantum products, awarded 2022        SPIE and Photonics Media Prism Award

Expansion of world-class business and technical leadership to include:
Scott Faris, CEO
Rushton McGarr, CFO
Paul Lipman, President, Quantum Information Platforms
Chester Kennedy, President of Research and Security Solutions
Barry Behnken as EVP Engineering
Laura Thomas, Vice President of Corporate Strategy
Sarah Schupp, Vice President of People, Culture and Brand
Anjul Loiacono, Vice President of Quantum Signal Processing Platform

“ColdQuanta is uniquely positioned to usher in the new era of quantum,” said Dana Anderson, ColdQuanta’s founder and CTO. “Unlike other modalities, our cold atom method does not rely on future scientific discoveries to predictably and cost-effectively scale. At the same time, our technology is highly adaptable to multiple applications that will be used to solve some of today’s most pressing challenges across finance, healthcare, transportation and more.”

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