Qolab, Inc., a leading innovator in superconducting quantum computing, has raised over $16 million in its Series A funding round. The financing was led by Octave Ventures, with additional investment from the Development Bank of Japan Inc. (DBJ), the Wisconsin Alumni Research Foundation (WARF), and Phoenix Venture Partners. This milestone marks a critical step in Qolab’s mission to bring utility-scale quantum computing to market by advancing scalability and performance in quantum systems.
The funding will enable Qolab to accelerate its development of superconducting quantum processors, expand its team of quantum scientists and engineers, and strengthen partnerships within the semiconductor industry. The company is focused on delivering reliable, high-performance quantum solutions that address the limitations of current technologies, with plans to bring scalable quantum computing technology closer to real-world applications.
Alan Ho, CEO of Qolab, emphasized the global significance of the funding: “This investment highlights Qolab’s role as a leader in quantum technology and aligns with international priorities to drive innovation in this field. The combined support from Octave Ventures and DBJ reflects confidence in our ability to shape the future of quantum computing.”
Michael S. Kim, Founder of Octave Ventures, praised Qolab’s leadership and vision: “Qolab is transforming quantum computing from a theoretical concept into practical technology with vast potential. Their strategic collaborations across the semiconductor industry are key to achieving breakthroughs that will redefine industries and unlock unprecedented possibilities.”
Dr. John Martinis, CTO and cofounder of Qolab, highlighted the importance of this milestone: “This funding accelerates our efforts to develop high-performance superconducting quantum systems. It’s an exciting moment as we push the boundaries of scalable quantum technology and advance our mission of delivering practical quantum solutions.”
Dr. Robert McDermott, Head of Hardware and cofounder, noted the impact on hardware advancements: “At Qolab, we are engineering a new generation of high-coherence qubits to overcome existing technological challenges. This funding is crucial for scaling our hardware capabilities and meeting the increasing demand for quantum processors.”
Yuki Takemori, General Manager of Innovation Promotion at DBJ, added, “Qolab’s commitment to precision and quality in quantum computing is remarkable. Their innovative approach to qubit design and strategic partnerships positions them as a leader in this transformative field. We are thrilled to support their journey toward groundbreaking advancements.”
With this Series A investment, Qolab is poised to advance its technology and bring scalable quantum computing solutions closer to reality, paving the way for transformative applications across industries.
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