QuEra, a Boston startup, has raised $230 million in a convertible note led by Google and SoftBank, aiming to develop a functional quantum computer in three to five years. This follows notable advancements in quantum chips and error correction crucial for practical quantum computing. QuEra's current leadership includes interim CEO Andy Ory, and despite not disclosing a timeline for their next equity round, they claim a significant valuation increase from previous rounds. Notably, QuEra is already generating revenue, including a $41 million sale of a quantum computer to Japan, marking a positive trajectory for the company.
On the heels of some notable advancements in quantum chips and error correction, QuEra has closed financing of $230 million to build a 'useful' fully-quantum computer.
The financing QuEra received is structured as a convertible note and represents a very substantial increase compared to its previous fundraising round, which raised just under $50 million.
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