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Qci Completes Financing Transaction For $7,500,000 In Net Proceeds

PUBLIC · QUBTSep 28, 2022

Round Type

Funding Round

New JerseyInformation TechnologyHardwareFinancial ServicesSoftware

Description

Quantum Computing Inc. (QCI) (NASDAQ: QUBT), a leader in accessible quantum computing, has completed a financing transaction with an accredited, family office investor which provided net proceeds to QCI of $7.5 million. The transaction was structured as a non-convertible, unsecured term loan in the principal amount of $8,250,000 (the “Loan”). The Loan accumulates interest at a rate 10% per annum and matures on March 23, 2024.

Quick answer

Quantum Computing raised an undisclosed amount in a Funding Round round, dated September 28, 2022. Quantum Computing is based in New Jersey, United States.

How much did Quantum Computing raise?
Quantum Computing raised an undisclosed amount in a Funding Round round on September 28, 2022.
What does Quantum Computing do?
Quantum Computing Inc. is a quantum hardware and software company on a mission to accelerate the value of quantum computing for real-world business solutions, delivering the future of quantum computing, today.
Where is Quantum Computing based and how big is it?
Quantum Computing is based in New Jersey, United States. Fundz records about 41 employees.
Who are the decision-makers at Quantum Computing?
Fundz holds 3 contacts at Quantum Computing, including the Manager, Product Design and Manufacturing. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who else raised in Hardware and Financial Services around the same time

Companies in the same sectors as Quantum Computing that raised within 45 days of this round, from Fundz verified event records.

  • Fathom raised $46M on November 4, 2022.
  • Savvy raised $11M (Funding Round) on November 10, 2022.
  • Valid8 Financial raised $1.3M (Seed) on November 5, 2022.
  • ThoughtFocus raised an undisclosed amount on November 2, 2022.
  • Identifi raised an undisclosed amount on October 31, 2022.
  • Icertis raised $150M (Funding Round) on October 31, 2022.

Who to call at Quantum Computing, and when

A new round usually means Quantum Computing is about to hire and buy. The teams that reach out first get the meeting.

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Company Information

Company

Quantum Computing

Location

New Jersey, United States

About

Quantum Computing Inc. is a quantum hardware and software company on a mission to accelerate the value of quantum computing for real-world business solutions, delivering the future of quantum computing, today. The company provides accessible and affordable solutions with real-world industrial applications, using nanophotonic-based quantum entropy that can be used anywhere and with little to no training, operates at normal room temperatures, low power and is not burdened with unique environmental requirements. QCi is competitively advantaged delivering its quantum solutions at greater speed, accuracy, and security at less cost. QCi's core nanophotonic-based technology is applicable to both quantum computing as well as quantum sensing and imaging solutions, providing QCi with a unique position in the marketplace. QCi's core entropy computing capability, the Dirac series, delivers solutions for both binary and integer-based optimization problems using over 11,000 qubits for binary problems and over 1000 (n=64) qubits for integer-based problems, each of which are the highest number of variables and problem size available in quantum computing today. Using the Company's core quantum methodologies, QCi has developed specific quantum applications for AI, cybersecurity and remote sensing, including its Reservoir Photonic Computer series, reprogrammable and non-repeatable Quantum Random Number Generator and LiDAR products. For more information about QCi, visit www.quantumcomputinginc.com.

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Related People

3 contacts
Verified contactsPranav M., Manager, Product Design and Manufacturi…See plans and pricing
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Quantum Computing raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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