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Quantum funding still flowing; earnings reports await

By Dan O'Shea posted 03 Nov 2022

Multiple recent funding announcements are challenging the assumption many had earlier this year that funding for quantum technology companies was becoming scarce. Just this week, ColdQuanta announced a $110 million Series B round, and now German quantum computer developer eleQtron has raised more than €50 million (at least USD $49 million), according to Tech.eu.

This week’s announcements came after a September update from Classiq noting that its Series B round announced earlier this year had grown from $36 million to $49 million. Other recent funding announcements included Eeroq’s $7.25 million payday in August, and back in late July, IQM unveiled the biggest funding round by a European quantum firm to date, raising €128 million (about $130.5 million at the time).

All of the above does not even count what SandboxAQ recently has been up to with the launch of its Strategic Investment Program this summer and its subsequent investments in two start-ups and its acquisition of a third.

Meanwhile, amid the wave of start-ups still finding funding, all of the pure-play quantum technology companies that have gone public over the last two years are set to report their quarterly earnings this month. The line-up starts with D-Wave Quantum on Nov. 10, followed by both Rigetti Computing and IonQ on Nov. 14, and Quantum Computing Inc. on Nov. 30.

Dan O’Shea has covered telecommunications and related topics including semiconductors, sensors, retail systems, digital payments and quantum computing/technology for over 25 years.

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