BC’s D-Wave secures $30 Million from CIA, Amazon CEO Bezos

High profile investors the latest in a string of big players betting on quantum computing.

Comments Off on BC’s D-Wave secures $30 Million from CIA, Amazon CEO Bezos October 5, 2012
by Design Engineering Staff

BURNABY, British Columbia – Canadian quantum computer maker, D-Wave Systems, Inc., announced that it has closed a $30 million round of equity funding from Jeff Bezos’ personal investment company, Bezos Expeditions, and In-Q-Tel (IQT), the strategic investment firm for the U.S. intelligence agencies.

“Our Intelligence Community customers have many complex problems that tax classical computing architecture,” stated 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.”

The company says it will use the new funding to augment its commercial operations and further increase its capabilities to provide solutions to its customers. This added capital allows D-Wave to pursue its growth strategy with the intention of making a difference to their customers’ mission objectives.

Bezos Expeditions and IQT join current D-Wave investors, including Business Development Bank of Canada, Draper Fisher Jurvetson, Goldman Sachs, Growthworks, Harris & Harris Group, International Investment and Underwriting, and Kensington Partners Limited.