In what is one of the largest funding rounds ever for a quantum computing company, backers included Google, SoftBank Vision Fund, Valor Equity Partners and others, as well as existing investors including Safar Partners and QVT Family Office.
QuEra is said to be now valued at more than $1bn, making it a ‘unicorn’ company.
QuEra's fundraising is the third largest for a quantum computing company in history, behind Quantinuum, which raised $300 million last year and the Australian government’s investment of $940 million in PsiQuantum, which aims to build the world's first commercially viable quantum computer in Brisbane.
"Since our last funding round in 2023, we have achieved impressive scientific, technical, and commercial milestones, which have dramatically increased the value of our business," said the company’s interim CEO Andy Ory.
QuEra was established in 2021 with a team drawn from Harvard and MIT with the goal of building the world's most powerful quantum computer.
Quantum computers have exponentially greater capability than traditional computers and can solve problems no classical computer can solve.
While the new investment funding is expected to be used to help advance the science of quantum, the company also said that it would be used to fund the building of manufacturing capacity in Massachusetts.
The company currently has 70 employees but said that it expected that number to increase in 2025 to over 100 employees.
