QuantWare completes $178 million Series B funding round with Intel Capital participating

QuantWare has just completed a $178 million Series B funding round, one of the largest fundraising rounds in the quantum chip industry to date.

This round was led by Intel Capital and IQT. The company stated it will use the funds to build the world’s largest dedicated quantum chip factory and scale up quantum processors by about 10 times compared to current commercial products.

QuantWare was founded in 2021, spun off from QuTech, focusing on the design and manufacturing of quantum processing units (QPU). The company says it currently serves over 50 customers in more than 20 countries, making it one of the leading QPU suppliers by shipment volume.

Unlike IBM and Google, which develop QPUs for internal use, QuantWare positions itself as an independent supplier. The company’s VIO platform supports modular chiplet architecture, helping third parties expand quantum chips.

QuantWare also stated that its modular model and new factory will help reduce bottlenecks in packaging, wiring, and manufacturing. The company aims to increase capacity by about 20 times to support the growth of the quantum industry chain.

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