Qolab raises $16m for quantum supercomputer

US startup Qolab has raised over $16.0m for its scalable superconducting quantum supercomputer technology.

The Series A financing round was led by Octave Ventures with co-investment from the Development Bank of Japan (DBJ), Wisconsin Alumni Research Foundation (WARF), and Phoenix Venture Partners and will be used to scale up its team and partnerships with semiconductor companies.

The company has shown high quality superconducting transmon qubit gates produced at scale on 300mm silicon wafer fabrication tools. This led Applied Materials to retrofit its facilities specifically for qubit fabrication in partnership with Qolab.

Qolab has also worked with Hewlett Packard Enterprises, Synopsys and Fermi Labs on a recent paper on how to build a quantum supercomputer  

“Qolab is well-positioned to leverage both domestic and international support in advancing its technology,” said Alan Ho, CEO of Qolab, based in Los Angelese, California. “The combined backing from Octave Ventures and DBJ is a testament to Qolab’s role as a global innovator in quantum technology and aligns with Japan’s strategic goals in fostering cutting-edge advancements.”

“Through collaboration with strategic partnerships across the semiconductor industry, QoLab is turning quantum computing into a practical, real-world technology that will redefine industries and unlock unprecedented possibilities,” said Michael S. Kim, Founder of Octave Ventures.

Yuki Takemori, General Manager of Innovation Promotion Office at the Development Bank of Japan, added, “Qolab’s focus on precision and quality in quantum computing is impressive. Their ability to leverage partnerships and push the boundaries of qubit design is exceptional. DBJ is excited to be part of their journey as they continue to make groundbreaking advancements in this field.”