D-Wave Systems raises $30M to keep commercializing its quantum computer

D-Wave Systems, the controversial poster child of commercial quantum computing, has raised $30 million in venture capital from Fidelity Canada Fund, Goldman Sachs, Business Development Bank of Canada and Draper Fisher Jurvetson. The company, which is headquartered in Vancouver, British Columbia, has now raised $160 million since it was founded in 1999.
Although debate over the quantum properties of D-Wave’s system remains an ongoing affair (see, for example, these two studies — here and here — published in the past few months), researchers do seem generally excited about the types of problems D-Wave’s computer might be able to solve given the right algorithms.
And regardless if it’s ultimately determined to be a true quantum computer, D-Wave is still an interesting company to watch. The company is already working with partners in the financial services and life sciences spaces to apply the D-Wave computer to their problems, and it’s promising to deliver its infrastructure as a cloud computing service to maximize its reach. Lockheed Martin, Google and NASA are the only publicly known owners of D-Wave computers today.
For more on the types of workloads D-Wave expects its system will be able to handle, check out this Structure Data interview with D-Wave CEO Vern Brownell.