Newly minted CEO of D-Wave Systems Vern Bromwell stepped up in the #5 slot at today's CIX Top 20 and gave the VC-heavy audience a quick tutorial on quantum computing. Based in Burnaby, BC, D-Wave Systems is pioneering the development of a new class of high-performance computing system designed to solve complex search and optimization problems, with an initial emphasis on synthetic intelligence and machine learning applications.
D-Wave is currently in the R&D phase of designing, fabricating, testing and operating AQCs and the software systems required to program and use them. Initially, D-Wave will target sales of systems to institutions who wish to conduct cutting edge research in experimental and theoretical quantum information science.
D-Wave is a privately held corporation. Since their founders' round in May 1999, they have raised $70 Million from institutional investors including Draper Fisher Jurvetson, Goldman Sachs, GrowthWorks Capital, and BDC Venture Capital.