Google leads $230M investment in Boston’s QuEra quantum startup

Quantum computing, once purely theoretical, is now gaining traction as a potential alternative to the costly pursuit of more powerful computing. Following advancements in quantum chips and error correction, Boston-based startup QuEra has secured $230 million in financing from Google and SoftBank. The funding aims to help QuEra build a practical quantum computer within the next 3-5 years. The financing is in the form of a convertible note, which will convert into equity during a future funding round.

QuEra, led by interim CEO Andy Ory, has raised nearly $50 million to date, including this round. Notable investors include Google, SoftBank Vision Fund, Valor Equity Partners, and existing backers. Though no valuation has been disclosed, QuEra’s COO hinted at a significant increase from previous rounds.

The company has already generated revenue, including a $41 million sale to Japan and cloud-based quantum services via AWS. QuEra is exploring expanding its cloud services but hasn’t yet announced new partnerships. The investment surge in quantum startups is growing, with recent rounds raised by companies like Alice&Bob, Riverlane, and SEEQC.

QuEra aims to build a neutral atom quantum supercomputer, using lasers to cool atoms and reduce errors. The company believes its architectural approach will lead to quantum computing with a real advantage over classical systems. With growing support from major partners like Google, QuEra is positioning itself as a leader in the race to deliver the first scalable, useful quantum computer.