ColdQuanta Raises Additional Funds for Quantum Tech Development

ColdQuanta Raises Additional Funds for Quantum Tech Development - top government contractors - best government contracting event

Quantum atomics company ColdQuanta has raised an additional $10M from Global Frontier Investments and Maverick Ventures through a seed funding round, bringing the total amount of funds raised in the financing activity to $16.75M.

ColdQuanta said Friday it will use the money to further develop the Quantum Core technology for potential use in quantum computing, signal processing and positioning systems.

The company has secured a total of $24M from both public and private sources over the past 18 months, including more than $7M in contracts to provide cold atom technology to the U.S. government.

According to ColdQuanta, its government research-and-development contracts and grants has reached a cumulative value of $30M.

Quantum Core is designed to leverage ultra-cold atoms that were cooled to near absolute zero through lasers.

Boulder, Colo.-based ColdQuanta uses the technology in the production of instruments, turnkey systems and components.

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