Rigetti, Berkeley, CA is one of the most well funded Quantum start-ups out there in the Quantum landscape. In fact, due its growing size it may actually qualify as a scale-up. The latest investment tranche sees a placement of $79 million possibly bringing its capitalization to over $1 Billion – a potential tech unicorn.
The Series C financing was led by Bessemer Venture Partners with Franklin Templeton joining the round with participation from Alumni Ventures Group, DCVC, EDBI, Morpheus Ventures, and Northgate Capital.
“This round of financing brings us one step closer to delivering quantum advantage to the market,”
Chad Rigetti, founder and CEO of Rigetti Computing
Rigetti is one of the most technology advanced Quantum Computing start-ups and will use the latest funds to help expands its capability into its vision of “Practical Quantum Computers”. In December 2019, Rigetti built a Quantum Computer with 32 qubits which can be accessed via the Quantum cloud (provided by Amazon AWS). Rigetti is one of the few Quantum Chip manufacturers and has its own foundry named Fab-1.
Read More about the funding round.
About Rigetti Computing
Rigetti Computing has been building and debeloping and delivers integrated quantum systems over the cloud since 2013. It also develops software solutions optimized for hybrid quantum-classical computing. Rigetti created Fab-1, the world’s first dedicated quantum chip foundry.
About Bessemer Venture Partners
The firm Venture Capital firm has backed more than 120 IPOs, including hosuehold names such as Pinterest, Shopify, Yelp, LinkedIn, Skype, LifeLock, Twilio, PagerDuty, and SendGrid.