ColdQuanta, a US-based startup, today announced it has closed $10M in additional seed round equity financing from its current investors, Maverick Ventures and Global Frontier Investments. This brings the total investment in the seed round to $16.75M. The funding will be used to advance the development of ColdQuanta’s cold atom Quantum Core™ technology, the foundation for the company’s development of quantum computers, and real-time quantum signal processing and positioning systems.
Over the past 18 months, ColdQuanta has also been awarded over $7M of U.S. government contracts for a variety of applications of ColdQuanta’s cold atom technology. This brings ColdQuanta’s cumulative R&D funding from government contracts and grants to approximately $30M. (ColdQuanta)