By Stephen Nellis
SAN FRANCISCO (Reuters) -Quantum computing firm Infleqtion said on Monday it has raised $100 million in venture capital and paired with government services contractor Science Applications International Corp to pursue defense deals.
Quantum computing holds the promise of solving problems in biology, chemistry and physics that classical computers would take thousands of years to solve. It is drawing interest – and hundreds of millions of dollars in funding – from technology companies such as Microsoft and Alphabet’s Google, as well as dozens of startups.
Most quantum computers use chips that must be kept at extremely cold temperatures in cryogenic coolers, making them expensive. Boulder, Colorado-based Infleqtion takes a different approach by beaming lasers at rubidium atoms suspended in a vacuum chamber, a process Infleqtion says lets its computers operate at room temperature.
Infleqtion plans to have a modest quantum computer by 2028, but in the meantime is using its technology for other applications, such as providing extremely precise electronic timing signals that can be used by military equipment in conflict zones where GPS signals are jammed.
Infleqtion CEO Matt Kinsella told Reuters on Friday that the company generated nearly $30 million in revenue last year.
As Infleqtion improves its core quantum technology for timing devices, that work “feeds directly into the (research and development) efforts for the computer,” Kinsella said.
Infleqtion and the government contractor will look for other applications for Infleqtion’s technology, which is the size of about three pizza boxes but expected to shrink dramatically over the next several years. Michael Hauser, vice president and managing partner of SAIC Ventures, said the technology has the potential to replace multiple antennas on military facilities.
“You get these antenna farms, and they jam each other. Well, if you’ve got this new form factor of … antenna, maybe you don’t jam yourself anymore,” Hauser told Reuters on Friday.
Investors in the current round were Glynn Capital, Morgan Stanley’s Counterpoint Global, S32, SAIC and others.
(Reporting by Stephen Nellis in San Francisco Editing by Rod Nickel)
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