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D-Wave Lands $50M Funding for Next Generation Quantum Computers

Today D-Wave Systems announced that it has received up to $50 Million in funding from PSP Investments. This facility brings D-Wave’s total funding to approximately US$200 million. The new capital is expected to enable D-Wave to deploy its next-generation quantum computing system with more densely-connected qubits, as well as platforms and products for machine learning applications.

This commitment from PSP Investments is a strong validation of D-Wave’s leadership in quantum computing,” said Vern Brownell, CEO of D-Wave. “While other organizations are researching quantum computing and building small prototypes in the lab, the support of our customers and investors enables us to deliver quantum computing technology for real-world applications today. In fact, we’ve already demonstrated practical uses of quantum computing with innovative companies like Volkswagen. This new investment provides a solid base as we build the next generation of our technology.”

This latest funding comes on the heels of significant momentum for D-Wave. Milestones achieved so far in 2017 include:

  • The D-Wave 2000Q quantum computer launched with first customer.  D-Wave launched a new computing system with 2000 qubits, enabling faster performance, and providing a major step toward production applications in optimization, cybersecurity, machine learning, and sampling. Cybersecurity company Temporal Defense Systems purchased the first D-Wave 2000Q system.
  • Cooperation with Virginia Tech.  D-Wave established a joint effort with Virginia Tech’s Hume Center for National Security and Technology to provide greater access to quantum computers for researchers from the U.S. Intelligence Community and Department of Defense.
  • Google, NASA, and USRA elected to upgrade. their D-Wave 2X quantum computer to the new D-Wave 2000Q system, to support their pioneering research on how quantum computing can be applied to artificial intelligence, machine learning, and difficult optimization problems.
  • Volkswagen traffic flow optimization project.  VW and D-Wave completed a joint project using a D-Wave quantum computer to optimize traffic flows, using data from 10,0000 taxis in Beijing, China. This project makes VW the first automaker to use quantum computers, and marks a promising step forward for practical quantum computing applications.
  • D-Wave initiated an open quantum software environment. with the release of qbsolv, an open-source quantum software tool that enables developers to build higher-level tools and applications leveraging the quantum computing power of D-Wave’s systems, without the need to understand the complex physics of quantum computers.

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