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...

Back Market, platform for refurbished tech gadgets, raises $335 million

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Back Market, an online platform for buying, selling and servicing refurbished tech gadgets, said on Tuesday it raised $335 million in its latest funding round which valued the company at $3.2 billion.The company, started in France in 2014, aims to make it easier for customers to buy refurbished gadgets like iPhones without having to worry that the seller may be peddling stolen or broken goods, said Chief Executive Thibaud Hug de Larauze.To ensure the quality of the refurbished-goods merchants, Back Market has a strict onboarding policy, he said. That includes an acceptance rate to join the platform of only 30%, followed by a sales limit of five items a day for 40 days to prove their products have low failure rates and their customer service meets the standards.“We basically take all the feedback from the clients. We make a quality score. And...

Agnostiq secures $2.4 million CAD to accelerate development of quantum computing software

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Toronto-based software startup Agnostiq has raised a $2.4 million CAD ($2 million USD) seed round to bolster its quantum computing platform. The round, which closed in December, was led by New York’s Differential Ventures, and saw participation from Scout Ventures, Tensility Venture Partners, Boost VC, and Green Egg Ventures. For Differential and Boost, it was their second investment in the Toronto startup, as they previously provided the majority of Agnostiq’s $1 million CAD ($830,000 USD) pre-seed round. Agnostic currently serves financial services organizations in Canada and the United States. In an interview, Elliot MacGowan, Agnostiq’s co-founder and COO, told BetaKit the company decided to raise the round after gaining some product traction and identifying a market opportunity. “We had a fair bit of product traction behind us and...

Cognitive Computing Technology Market Size is Projected to be Around US$ 17030 Million by 2025

Global Cognitive Computing Technology market had generated revenues worth 8493.7 Million USD in 2019 and this valuation is likely to surpass 17030 Million USD by 2025, recording a CAGR of 19 % during the forecast period 2019-2025.Request Sample Copy of this Report- Request Free SampleThe latest report on Cognitive Computing Technology market helps stakeholders, marketers, and businesses understand crucial aspects such as the growth drivers and key trends, and subsequently aid them in generating high returns by exploiting all the available opportunities. In addition, it recommends methods to effectively tackle the existing as well as upcoming challenges in this business sphere. Moreover, the document stresses on the consumption and production aspects to infer the overall performance of the market over the forecast timeline. Cognitive...

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,...

Global Fog Computing Market Trajectory & Analytics, 2020-2027 – U.S. Market is Estimated at $15.8 Million, While China is Forecast to Grow at 47.3% CAGR

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BloombergWarren Buffett Sees a ‘Red Hot’ Economy With Creeping Inflation(Bloomberg) -- Warren Buffett delivered a clear verdict Saturday on the state of the U.S. economy as it emerges from the pandemic: red hot.“It’s almost a buying frenzy,” the Berkshire Hathaway Inc. chief executive officer said during the conglomerate’s annual meeting, which was held virtually from Los Angeles. “People have money in their pocket and they’re paying higher prices,” he said.Buffett attributed the faster-than-expected recovery to swift and decisive rescue measures by the Federal Reserve and U.S. government, which helped kick 85% of the economy into “super high gear,” he said. But as growth roars back and interest rates remain low, many -- including Berkshire -- are raising prices and there is more inflation “than people would have...

The Quantum Computing market is expected to grow from USD 472 million in 2021 to USD 1,765 million by 2026, at a CAGR of 30.2%

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The early adoption of quantum computing in the banking and finance sector is expected to fuel the growth of the market globally. Other key factors contributing to the growth of the quantum computing market include rising investments by governments of different countries to carry out research and development activities related to quantum computing technology.New York, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Quantum Computing Market with COVID-19 impact by Offering, Deployment, Application, Technology, End-use Industry and Region - Global Forecast to 2026" - https://www.reportlinker.com/p05064748/?utm_source=GNW Several companies are focusing on the adoption of QCaaS post-COVID-19. This, in turn, is expected to contribute to the growth of the quantum computing market. However, stability and error...

Israeli quantum computing developer Classiq Technologies raises $10.5 million series A

Israeli quantum computing developer Classiq Technologies raises 105 million series
The company developed tools for the automatic translation of human ideas into quantum circuits Meir Orbach 16:1227.01.21 Israel-based Classiq technologies, which develops tools for converting human thought into quantum circuits, announced on Wednesday that it has raised $10.5 million in series A funding led by Team* Capital and Wing Capital.   The field of quantum computing is still in its early stages, making the task of developing algorithms for it a nearly impossible mission. After decades of research, only a meager number of quantum computing algorithms have been developed so far. While quantum hardware is being developed quickly, there remain major challenges to progress on the software front due to lack of abstractions, the basic principle driving software development.   Classiq Technologies'...

Affective computing market share will exceed to USD 136,457 million by 2030 at 35.13% CAGR during the forecast period 2020-2030 – The Courier

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Affective computing market is anticipated to exceed USD 136,457 million by 2030 from USD 26,382 million in 2019 at a CAGR of 35.13% throughout the forecast period i.e. 2020-2030. Affective computing is an arrangement of mental science, psychology, as well as, computer science that can foresee the emotional condition of humans and conveys appropriate comeback to get a helpful result. This empowers businesses comprising of the e-commerce sector to enhance their customer shopping experience and therefore vend products proficiently. It can also be utilized for online promotion as well as advertising booths to provide advantageous advertisements as per the user’s emotional condition. Affective computing involves machine intelligence, big data, emotion analytics engine, and sensors including a camera and heads up display among others to collect and...

Amazon plans to reskill 29 million people worldwide for cloud-computing jobs

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Amazon’s cloud division has become one of its most important profit drivers, posting $11.6 billion in sales in the quarter that ended Sept. 30, up 29% from a year earlier. (Photo: Mike Scarcella/ALM) Amazon is one company that has thrived during the pandemic. Now it is paying it forward by helping 29 million people worldwide retrain for cloud-computing jobs by 2025, the Wall Street Journal reported. The company committed $700 million last year to reskilling 100,000 of its own workers in the United States. The new effort will build on existing programs and include new ones in partnership with nonprofits, schools and others. Related: Amazon’s new $2B Climate Pledge Fund launches Amazon’s latest initiative is geared toward those who aren’t already employed at the company. The idea, it says, is to equip people with the education needed to...