Qolab Closes $54.2 Million Series B to Accelerate Scalable Superconducting Quantum Processors - Quantum Computing Report

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Qolab Closes $54.2 Million Series B to Accelerate Scalable Superconducting Quantum Processors

Utility-scale quantum hardware developer Qolab Inc. has announced the final closings of its $54.2 million USD Series B financing round. The capital pool consists of primary Series B Preferred Stock investments combined with the conversion of $12.6 million in convertible debt and an additional $10 million structured commitment for future convertible securities. The oversubscribed round was led by UC Investments (the University of California Office of the Chief Investment Officer), with active follow-on capital provided by prominent semiconductor and financial venture firms, including the Wisconsin Alumni Research Foundation (WARF), Octave Ventures, and Phoenix Venture Partners.