‘Passing of torch’ in quantum computing race as Toronto’s Xanadu raises $100-million from Bessemer, CIA, Jeff Skoll

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Christian Weedbrook, founder of the quantum technologies company, Xanadu, listens in as Varun Vaidya, left, discusses the working principle of one of the building blocks of quantum computers, at their office in Toronto on June 20, 2019. Tijana Martin/The Globe and Mail Toronto startup Xanadu Quantum Technologies Inc. has raised US$100-million led by U.S. venture capital giant Bessemer Venture Partners as competition intensifies to bring quantum computers to market. The financing, first reported by The Globe and Mail this month, is also backed by Canadian billionaire Jeff Skoll’s Capricorn Investment Group and U.S. investment giant Tiger Global and past investors Georgian, OMERS Ventures and U.S. venture capitalist Tim Draper. The funding values Xanadu at US$400-million post-transaction. Notably, BDC Capital and In-Q-Tel, the U.S. Central...

CINECA and D-Wave Expand Access to Quantum Computing

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BOLOGNA, Italy and BURNABY, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) -- CINECA, the Italian inter-university consortium and one of the world’s leading global supercomputing centers, and D-Wave Systems Inc., the leader in quantum computing systems, software, and services, today announced a formal collaboration to offer Italian universities, researchers, and developers expanded access to practical quantum computing technology and resources through D-Wave’s Leap™ quantum cloud service. CINECA, which is made up of 69 Italian universities, 25 national research institutions, the Ministry of Education, and the Ministry of Universities and Research, will benefit from expanded, real-time access to the Leap quantum cloud service. This access includes D-Wave’s hybrid quantum/classical solvers, which leverage both quantum solutions and...

NEC, D-Wave and the Australian Department of Defence

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BURNABY, British Columbia, April 20, 2021 (GLOBE NEWSWIRE) -- NEC Australia and Quantum Computing firm D-Wave Systems Inc. (D-Wave) are proud to have been selected by the Australian Department of Defence to demonstrate the use of hybrid quantum computing technology to solve a “last mile resupply” problem. The technology optimises how autonomous vehicles are used to resupply army forces from a central base. NEC Australia and D-Wave were selected via a competitive proposal process. NEC and D-Wave entered into an agreement in November 2019 to accelerate the use of quantum computing by working with customers to develop applications. This is NEC’s first quantum computing application use-case developed outside Japan. NEC Australia is a highly-experienced enterprise Managed Services company, with expertise in working across State, Federal...

D-Wave receives $40 million from federal government for quantum computing tech

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Burnaby, BC-based D-Wave Systems has secured $40 million from the Government of Canada to support its quantum computing systems and software. The funding is set to be announced Thursday afternoon by the recently appointed Minister of Innovation, François-Philippe Champagne. The $40 million in government funding comes in the form of Strategic Innovation Fund (SIF) financing. It will support a $120 million project D-Wave is working on to develop quantum computer hardware and software systems. The goal behind the government capital and project is to ensure Canada “remains at the forefront of quantum technology development” and help D-Wave prove the advantage of quantum technology over classical computers. The project has also received assistance from the Sustainable Development Technologies Canada program and the Government of British Columbia,...