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QCI raises $18 million

Quantum Circuits Inc (QCI) has raised $18 million in a Series A funding round. The investment was co-led by Canaan Partners and Sequoia Capital. Tribeca Venture Partners, Osage University Partners, and previous investor Fitz Gate Ventures also participated in the financing.

Brendan Dickinson of Canaan and Bill Coughran of Sequoia are joining the company’s board.

QCI is a private venture founded in late 2015. The company’s long-term goal is to develop, manufacture, and sell the first practical and useful quantum computers based on superconducting devices, according to the company’s website.

QCI was founded by three scientists from the Department of Applied Physics at Yale University: Michel Devoret, Luigi Frunzio, and Robert Schoelkopf.

[Image courtesy: QCI]

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