D-Wave Systems Raises $28 Million More for Quantum Computing

Posted by Rob Lewis

D-Wave Systems, the world's first commercial quantum computing company, has raised $28.4 million in venture capital from Fidelity Canada Fund, Goldman Sachs, Business Development Bank of Canada and Draper Fisher Jurvetson.

Vancouver-headquartered D-Wave Systems has been getting a lot of recognition lately for its innovative, groundbreaking technology, including being named one of the world's smartest tech companies and making the cover of TIME magazine.

In 1999 D-Wave Systems was spun out of the University of British Columbia to commercialize superconductor-based, quantum computer processors.

The once unknown firm is being lauded for its so-called "infinity machine," which promises to solve incredibly complex problems and is backed by the likes of NASA and Amazon's Jeff Bezos—yet it's virtually impossible to explain how it actually works.

SEE ALSO: D-Wave Makes Cover of TIME Magazine for Quantum Computing Innovation

In 2011, the Canadian Innovation Exchange (CIX) awarded Dr. Geordie Rose, founder and CTO of D-Wave Systems with the inaugural CIX Innovator of the Year Award.

In 2012 D-Wave Systems announced that they have raised a $30 million round from investors including the firm that manages Amazon founder Jeff Bezos's venture investments and an investment arm of the Central Intelligence Agency.

D-Wave has now raised $160 million since it was founded in 1999.

Company:
D-Wave Systems
Website:
http://www.dwavesys.com
Location:
Vancouver, British Columbia, Canada

Founded in 1999, D-Wave's mission is to integrate new discoveries in physics and computer science into breakthrough new approaches to computation. The company's flagship product, the D-Wave OnTM, is built around a novel type of superconducting processor that uses quantum mechanics to massively accelerate computation. In 2010 Lockheed Martin purchased serial number 1, completing the historic world?s first sale of a... more

Company:
BDC Venture Capital
Website:
http://www.bdc.ca
Location:
Montréal, Québec, Canada

With more than $1 billion under management and more than 25 years of industry experience, BDC Venture Capital is an investor of choice focusing on IT, health and energy/cleantech companies, as well as venture funds, with high growth potential. From seed through expansion to exit, their mandate is to help build outstanding Canadian companies, while working to create a sound financial ecosystem for Canadian... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more



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