ColdQuanta Closes $6.75M Equity Investment in Quantum Technologies

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ColdQuanta, a developer of laser-cooled and ultracold atom-enabled quantum technologies, has received $6.75 million in seed financing from investors led by Maverick Ventures, with participation from Global Frontier Investments.

The funding will be used to commercialize ColdQuanta’s ultracold neutral atom technology in the areas of secure quantum communications, neutral atom quantum computing, and quantum metrology.

To date, ColdQuanta has been internally financed through contract and product revenue since its founding in 2007. Matthew Kinsella of Maverick and Grant Dollens of Global Frontier have joined the company’s board, along with Timothy Day, who has assumed the role of executive chairman.

“ColdQuanta was founded upon the vision that quantum technology would someday emerge as a paradigm having significance on par with those of the transistor and the laser,” said Dana Anderson, ColdQuanta’s CEO. “ColdQuanta is well poised to enter the emerging quantum era, addressing applications ranging from timekeeping to secure communications, and from navigation to quantum simulation and computation.”

ColdQuanta was founded as a spinoff from the JILA Institute and Physics Department at the University of Colorado, Boulder.

Published: August 2018
Businesscommercializationsearningspartnershipsfundingquantum metrologyquantum computingindustrialColdQuantalight speed

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