Startups
Yale Spinout in Quantum Field Draws US Intelligence Agency Money
- Sequoia’s sole quantum computing bet raised over $60 million
- Policymakers fear security impact of falling behind in quantum
Quantum Circuits seeks to make error correction more efficient in quantum computers.
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Sequoia Capital-backed Quantum Circuits Inc. raised more than $60 million from investors including a fund set up by the US Central Intelligence Agency, as concern grows about quantum computing’s potential security implications.
Sequoia’s only portfolio company in the nascent field said on Thursday it won an investment from In-Q-Tel Inc., a nonprofit that deploys funds from US intelligence agencies. Quantum Circuits will use the money to commercialize time on its superconducting quantum computer which boasts built-in error-detection.