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ColdQuanta Raises $32M in Series A Funding to Accelerate Development of Quantum Systems

ColdQuanta, the quantum atomics company, today announced it has raised $32M in Series A funding, with additional funding expected to close soon. The round was co-led by Global Frontier Investments and LCP Quantum Partners, with current investor Maverick Ventures and new investor Foundry Group also participating. The funding will be used to advance the development of quantum computers, quantum positioning systems, and real-time quantum signal processing based on ColdQuanta’s Quantum Core™ technology. Tyler Brous, Managing Director and Portfolio Manager of Lennox Capital Partners, LP, will join the ColdQuanta board of directors.

“ColdQuanta’s unique ability to leverage their Quantum Core technology for applications spanning quantum computing, global positioning, signal processing, and communications enables them to grow their business into different multi-billion dollar markets,” said Grant Dollens, founder of Global Frontier. “Their selection for the new DOE quantum science center along with industry giants IBM and Microsoft, the large contract award from DARPA to develop a scalable quantum computer, and the successful deployment of their technology on board the International Space Station are just a few examples of outside validation of their technology and expertise. Our latest investment in ColdQuanta is a clear demonstration of our confidence in their team.”

“ColdQuanta’s unique ability to leverage their Quantum Core technology for applications spanning quantum computing, global positioning, signal processing, and communications enables them to grow their business into different multi-billion dollar markets,” said Grant Dollens, founder of Global Frontier. “Their selection for the new DOE quantum science center along with industry giants IBM and Microsoft, the large contract award from DARPA to develop a scalable quantum computer, and the successful deployment of their technology on board the International Space Station are just a few examples of outside validation of their technology and expertise. Our latest investment in ColdQuanta is a clear demonstration of our confidence in their team.”