Google and SoftBank invest in quantum computing startup QuEra
Investing.com -- Alphabet (NASDAQ: GOOGL ) Inc.'s Google and SoftBank (TYO: 9984 ) Group Corp. are among the new investors in QuEra Computing Inc., a Boston-based startup that aims to make quantum computing more practical, according to a Tuesday report by Bloomberg. The startup recently raised $230 million in a funding round, demonstrating increased investor interest in the potential real-world applications of quantum computing.
QuEra Interim CEO, Andy Ory, revealed that the funding round was finalized rapidly, in just a few weeks, following the company's successful resolution of a series of technical challenges. This progress attracted the attention of investors, leading to their financial commitment. However, out of the total funding, $60 million is still pending and will be disbursed upon QuEra achieving specific technical milestones, according to the company.
Ory remarked on the stark contrast in enthusiasm for the quantum industry now compared to a few years ago, describing it as "night and day." He also pointed out an ongoing competition among different technologies within the quantum computing field. QuEra's technology, which utilizes neutral atom qubits, appears to be leading the race. According to Ory, neutral atoms are currently favored because they simplify the scaling of a quantum computer. This is possible because the process can be executed at room temperature and does not necessitate large cryogenic refrigeration equipment.
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