QuantWare Completes $178M Series B Funding Round Led by Intel Capital

According to ChainCatcher, quantum chip developer QuantWare announced today that it has completed a $178 million Series B funding round, marking one of the largest financings in the quantum processor sector. The round was led by Intel Capital and IQT. QuantWare plans to use the funds to build the world’s largest dedicated quantum chip manufacturing facility and increase quantum processor capacity by approximately 10 times compared to current commercial products. Founded in 2021 and spun out from QuTech, QuantWare is a neutral supplier of quantum processing units (QPUs) serving over 50 customers across 20 countries, differentiating itself from competitors like IBM and Google through its modular chiplet architecture.