SoftBank and Google have provided a $230 million backing to the Boston-based quantum venture QuEra. The company stated that it will utilize this funding to transition into a growth phase by constructing a fully quantum computer within the next three to five years.

Boston-based quantum computing company QuEra announced the completion of a new funding round with $230 million from SoftBank and Google.

It is reported that the company will use the funding to build a fully quantum computer within the next three to five years to support its next growth phase.

QuEra’s CEO Andy Ory mentioned that the funding round was closed in just a few weeks.

This development has put the company on investors’ radar, resulting in commitments for financial support.

However, QuEra stated that $60 million of the total investment is still pending and will be paid upon reaching specific technical milestones.

Andy Ory did not share any details on when the next equity round will commence.

QuEra’s COO Yuval Boger emphasized that this move marks a significant leap compared to the previous round.

As a reminder, in the summer of 2024, they showcased their quantum computer research done in collaboration with Harvard, which featured the highest 48 logical qubits tested so far.

QuEra and Harvard physicist Harry Zhou highlighted the significance of the project by stating that it is the first machine with quantum error correction capability.