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Quoherent Inc. Secures $4.7 Million Series Seed Financing to Advance Quantum Computing with Room Temperature, Edge-Capable, Scalable Qubit Technology

HUNTSVILLE, Ala., November 15, 2023--(BUSINESS WIRE)--Quoherent Inc., a company developing room-temperature edge-capable quantum processors, which promises to radically change quantum computing, announced today the closing of its $4.7 million Series Seed financing. The round was led by Morpheus Ventures and joined by Draper Associates, Khosla Ventures, and Alpha Edison.

"We’re excited to add the leading disruptive technology venture investors in the world to the Quoherent team," said Roberto DiSalvo, PhD, CEO & Co-Founder of Quoherent. "Their resources and expertise will accelerate our roadmap and enable us to deliver industry-changing quantum processors."

Proceeds will be used to accelerate development of Quoherent’s "third-wave" solid state quantum qubits. This new capital will supplement diversified funds from the company’s growing customer base, which spans both private and government partners, advancing Quoherent's mission to deploy the world's first high-fidelity, scalable quantum processors on mobile platforms.

Morpheus Ventures, with its strong focus on disruptive technology and quantum computing recognized the robust science and engineering stemming from many years of research and development. Damien Petty, Partner at Morpheus Ventures and new board director at Quoherent, expressed enthusiasm, "Quoherent’s solid roadmap will deliver practical room-temperature processors in a realistic timeframe capable of operating at the edge, where first and second wave quantum computers cannot. This will drive the next wave of quantum computing technology and surpass classical computers."

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"Quoherent’s big vision for fundamentally expanding the capabilities of quantum computing with room temperature, solid state technology represents the bold thinking that motivates our investing," noted Draper Associates Founder & Managing Partner Tim Draper.

"We invest early in companies that are bold and impactful," said Kanu Gulati, partner at Khosla Ventures. "The Quoherent team is incredibly talented, and if they continue to prove their technology at scale, it will be a radical leap forward for the quantum industry."

Quoherent is the culmination of a decade-long research collaboration between its founders Roberto DiSalvo (CEO), Alton Reich (COO), David Carroll (CTO), and the Wake Forest Center for Nanotechnology and Quantum Materials. The company has extended its collaborative efforts to various research institutions, aiming to build a robust ecosystem around Quoherent's quantum technology. Through invaluable partnerships with universities, investors, and public and private institutions, Quoherent remains committed to realizing its vision of delivering quantum computing at the edge, when and where it is needed.

About Quoherent

Quoherent has developed a novel quantum computing modality leveraging topological materials that enable ambient temperature operation and edge capability with low quantum noise. This innovation allows construction of quantum processors on silicon, making them scalable and capable of integrating with standard PCB technology. Its mission is to deploy the world’s first high-fidelity, scalable quantum processors on mobile platforms, delivering quantum processing at the edge. For more information, see www.quoherent.com.

About our Investors:
Morpheus Ventures: www.morpheus.com
Draper Associates: www.draper.vc
Khosla Ventures: www.khoslaventures.com
Alpha Edison: www.alphaedison.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20231115145405/en/

Contacts

Nate DeFlavio
nate.deflavio@quoherent.com