D-Wave raises $50 million

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Quantum computing company D-Wave Systems has received new capital in the form of convertible notes from the Public Sector Pension Investment Board. PSP Investments funded $30 million at closing, with an additional $20 million available at D-Wave’s option upon the achievement of certain milestones.

The latest financing brings D-Wave’s total funding to approximately $200 million.

[Image courtesy: D-Wave]