QuEra Secures $230 Million Investment from Google, SoftBank, and Valor Equity Partners for Quantum Computing Development

QuEra, a quantum computing firm originating from MIT and Harvard, has secured up to $230 million in a Series B funding round. The investment includes participation from Google's Quantum-AI team, Softbank's Vision Fund, and Valor Equity Partners, along with existing investors. $170 million will be provided immediately, with an additional $60 million contingent on achieving specific milestones. This funding brings QuEra's total investment to $277 million, following initial rounds of $17 million in 2021 and $30 million in 2023. The company's valuation is reportedly estimated between $750 million and $1 billion. QuEra's quantum technology uses Rydberg states as qubits, eliminating the need for extensive cooling. Google's Quantum-AI team plans to contribute technically to QuEra's development, despite using superconducting qubits.