Burnaby-based quantum computing outfit D-Wave Systems, Inc. has received $30 million in equity funding from a group of investors, including Amazon.com founder and CEO Jeff Bezos, the company announced today.
Among the backers are Bezos Expeditions, BC Discovery Fund Inc. and In-Q-Tel (IQT), a strategic investment firm delivering technology solutions in support of the missions of the U.S. Intelligence community.
"We are pleased to have such highly regarded investors in our company," said Vern Brownell, CEO of D-Wave.
"Jeff Bezos and In-Q-Tel are well-known visionaries. Both understand the implications of quantum computing as a world-changing force, and these investments affirm their belief in D-Wave's unique approach to quantum computing.
"With these funds, we are accelerating our trajectory, putting this technology and its applications into the hands of users."
Bezos Expeditions and IQT join current D-Wave investors Business Development Bank of Canada, Draper Fisher Jurvetson, Goldman Sachs, Growthworks, Harris & Harris Group, International Investment and Underwriting and Kensington Partners Ltd.
D-Wave will use the new funding to augment its commercial operations and further increase its capabilities to provide solutions to its customers.
"Our intelligence community customers have many complex problems that tax classical computing architecture," said Robert Ames, vice-president in charge of information and communication technologies at IQT.
"We believe our customers can benefit from the promise of quantum computing, and this investment in D-Wave is a first step in that direction."
