Xanadu Lands $100 Million as Investments Pour Into Quantum Computing

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Xanadu Quantum Technologies Inc., which aims to commercialize quantum computing using particles of light, has raised $100 million in new funding as investor interest in the industry heats up.On Tuesday, Xanadu announced a Series B funding led by Bessemer Venture Partners, one of Silicon Valley’s oldest such firms. Funding to date for the five-year-old company now totals $145 million, said Christian Weedbrook, founder and chief executive of Xanadu. Quantum computing has the potential to solve some problems many millions of times faster than a conventional computer, which is why major technology companies and startups are working to commercialize it using various approaches. Traditional computers store information as either zeros or ones. Quantum computers use quantum bits, or qubits, which represent and...

Quantum computing is so last-decade. Get ready to invest in the final frontier… teleportation

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If 2020 had you wishing you could say “Beam me up, Scotty,” you’re not alone. You may be one tiny step closer to getting your wish… in a few decades or so. Scientists from Fermilab, Caltech, NASA’s Jet Propulsion Laboratory and the University of Calgary achieved “long-distance quantum teleportation” in mid-2020, they confirmed in an academic journal article published last month. It’s another step toward realizing what’s often called quantum computing, and also toward understanding physics on a different level than we do now, perhaps well enough to someday teleport humans. And while there is no ETF specifically for that yet, here are some broad guidelines for thinking about how to invest in very nascent technologies. For starters, it’s good to understand the broad contours of the industry supporting the idea. A...

Finnish quantum computing firm IQM raises $46 million

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Nov 10 (Reuters) - Finnish quantum computing technology firm IQM has raised 39 million euros ($46 million) from investors including MIG and Tencent to boost its position in the emerging industry, it said on Tuesday.IQM, founded in 2018, develops quantum computers for research laboratories and computing centres, and has now raised a total of 71 million euros - making it one of the best-funded European firms in the sector.“Europe is ideally positioned to become a quantum leader for the future. Our decades of investment in science and research which are needed to power quantum breakthroughs play to our strengths,” it said.Quantum computers could operate millions of times faster than today’s advanced supercomputers. The technology is based on quantum bits, or qubits, that exponentially increase the amount of information that can be...